EFG-Hermes Qatar is a joint venture owned 51% by EFG-Hermes and has an initial capitalization of $37m. The Qatar operation will be led by Ahmed Waly, CEO of EFG-Hermes Qatar LLC.
Waly previously worked for EFG-Hermes as a senior member of the institutional sales team, before moving to Auerbach Grayson in New York as VP Emerging Markets and thereafter to NBK as Head of Brokerage. He returns to EFG-Hermes with well developed capacity and relationships on the ground region-wide.
"Qatar has one of the world's fastest growing economies, based on its oil and gas wealth, and our presence there is integral to the continued growth of EFG-Hermes. I look forward to further building and contributing to our strength in the region, "said Ahmed Waly, CEO of EFG-Hermes Qatar.
"We are fortunate to have someone of Ahmed's caliber back with the firm and at the helm of such a strategically important market for EFG-Hermes. We will continue to reinforce our position as the region's leading investment bank, and Qatar is an important piece of this equation," said Hassan Heikal, Co-Chairman and Chief Executive Officer of EFG-Hermes.
EFG-Hermes has operations in Egypt, the UAE and Saudi Arabia, with dominant market share regionally across the breadth of its businesses.
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EFG-Hermes expansion momentum continues
- Qatar: Saturday, December 15 - 2007 at 13:13
- PRESS RELEASE
EFG-Hermes Qatar LLC has been granted a license by the Qatar Financial Centre Authority (QFCA) for investment banking and asset management business, adding to the expansion of EFG-Hermes's regional footprint.
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Notes and media contacts
About EFG-HermesEstablished in 1984, EFG-Hermes is the leading full-service investment bank in the Arab world. The firm specializes in Investment Banking, Asset Management, Private Equity, Brokerage and Research. With listings on both the London and Cairo stock exchanges, EFG-Hermes boasts a market capitalization in excess of US$4 billion.
Through its offices in Egypt, UAE, KSA and with more than 700 people from 18 Nationalities, EFG-Hermes serves a diverse client base from the Middle East and North Africa to Europe and the United States. Clients include governments, corporations, financial institutions, high net worth individuals and retail customers.
As part of its commitment to the communities in which it operates the Firm launched the EFG Foundation in 2006. This social responsibility programme aims to assist individuals and institutions in overcoming financial, educational and health related challenges.
For more information on EFG-Hermes please contact:
Rasha Kashkoush
Hill & Knowlton UAE
Tel: 00971 4 4055 624
Mob: 00971 50 450 6533
Amr Gamal
Hill & Knowlton Cairo
Tel: 002 02 27365571
Mob: 002 012 3982055
About Qatar Financial Centre
The Qatar Financial Centre (QFC) is a financial and business centre established by the Government of Qatar and located in Doha. It has been designed to attract international financial services institutions and major multi-national corporations and to encourage participation in the growing market for financial services in Qatar and elsewhere in the region. The QFC operates to international standards and provides a first class legal and business infrastructure for those operating within the QFC. The QFC has been open for business since 1 May 2005.
Posted by Medilyn Manibo, Assistant News EditorSaturday, December 15 - 2007 at 13:13 UAE local time (GMT+4)
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