Prime Minister of Egypt inaugurates EFG-Hermes UAE head office

Dr Ahmed Nazif met with EFG-Hermes Chairman and CEO Yasser El Mallawany and lauded the company for the success of its regional expansion model.

"The Egyptian government is not only keenly supporting investment in Egypt, but also the positive expansion stories of companies like EFG-Hermes, who are taking a home-grown brand to regional markets and elsewhere overseas" said Dr Nazif. "As one of a number of Egyptian companies offering its clients a regional offering, we will continue to contribute to support EFG-Hermes and all Egyptian companies, that together are making a contribution to economic development in the Arab world."

Since opening in the UAE in 2005, EFG-Hermes has successfully launched its full range of services, including: Brokerage, ranked 8th among 90+ brokers in the UAE; Investment Banking, notable in its role as Global Coordinator and Financial Advisor for the du IPO; and Asset Management. Its expansion has been supported by the launch in recent months of progressive brokerage services such as a client contact centre and online trading facility.

"The development of a universal banking platform across regional markets remains at the heart of our strategy and we plan to emulate our success here in the DIFC and UAE, taking the model we developed in Egypt to other markets" said EFG-Hermes Chairman and CEO Yasser El Mallawany. "Saudi Arabia is the next step in this journey, followed by other markets which we are viewing with seriousness."