EFG-Hermes asserts investment in talent as the means to market leadership

In an effort to develop its corporate talent to the highest standards, and to capitalize on their skills, EFG-Hermes has selected 21 key employees to join the Executive Development Program (EDP).

EDP is the logical extension of the Investment Banking Program (IBP) that the Firm has been offering to graduate trainees since 2005 and which has become an example of excellence for the industry.

The principle objective of the EDP is to assist the participants to identify their strengths and their growth potential which will lead to a personalized 18-month development roadmap.

"It is important to note here that all top-notch institutions such as Merrill Lynch and Goldman Sachs have similar development programs. The 21 employees have been selected by the Executive Committee to attend the EDP: it will run from July 2008 to December 2009"

says Declan Ball, Head of Human Resources at EFG-Hermes.

The Executive Development Program consists of two phases: Phase 1 is an intensive seminar which will be taught by Dr. Ulrich Wiechmann (ex-Harvard Business School).

Phase 2 is a tailor-made personal development plan (PDP) and includes one-on-one coaching every three months. Tentative dates are set for 4Q 08 and 1Q 09.

"EFG-Hermes is the leading investment bank in the region. This is due to a very large extent to the excellent choice and quality of the Firm's people. It is one of the few employers of choice in the region and has a solid record of attracting and growing a high caliber of employees," Ball added. "EFG-Hermes' recruitment model is tightly integrated, highly innovative and has indeed become a benchmark for our competitors," he said.

Meanwhile, the Firm has been undergoing a recruitment process of global standards; for example, the firm recruits 24 associates from leading regional and international universities annually.

All go through the 14- week Investment Banking program (IBP) taught by bankers and consultants brought in from the UK and USA.

The course has an outstanding reputation in the region.

Moreover, the Firm has its own head-hunting unit to source the best talent in the market. Above all, it is regionally known that there are great opportunities for internal promotion because of the quick growth of the firm.