Euromoney survey of fund and portfolio managers finds EFG-Hermes research best in the region for the third year in a row

This is the third consecutive year that the firm's research department has topped the Euromoney survey, reflecting the high quality of their consistently thorough and unbiased research.

The EFG Hermes research team collected eight first-place rankings, twice as many as the next-best research house. The Euromoney poll, conducted in May and June of this year, asked 321 global portfolio and fund managers with regional equity investments which analysts were providing the best research coverage of the region's listed companies.

"Euromoney is very pleased with the continued growth in respondents to the survey, which is now in its third year, proving the Gulf continues to be a market of interest to major international institutional investors. The bursting of the bubble has hopefully taught more investors the value of solid research as a tool to aid them in their decision making."

commented Euromoney Magazine Chief Executive Officer Simon Brady.

"We are very pleased to be recognized once again by our clients in such a turbulent year which, I believe, reflects the depth of our knowledge of the Middle Eastern and North African markets and the quality of our work. I am confident this will continue to set us apart as the authoritative resource for the MENA markets," said Wael Ziada, Head of Research at EFG Hermes. "I would like to congratulate both the research and sales teams whose hard work and commitment have been rewarded by this strong showing in the survey"

The EFG Hermes research team ranked number one in eight sectors including, among others, telecoms, industrials, oil and gas and pharmaceuticals. The group's economics and strategy research were also ranked top by industry respondents.

EFG Hermes Research collected one first-place and one second-place more than it did in 2008. In recognizing the dominant performance of EFG Hermes, the magazine cited the investment bank's research group as having the "most convincing and coherent strategy."

Earlier this summer, EFG Hermes earned significant regional and international recognition when it was again ranked second in the 2009 Thomson Reuters Extel Survey of Middle East and North Africa markets coverage. It is the only MENA-based firm to crack the survey's headline results since the pan-European survey of investment banking and asset management has expanded to include groups based outside core European markets.

Ziada added, "EFG Hermes has played a key role in helping regional and global investors identify the region's most promising investment opportunities. The Euromoney results, along with the 2009 Extel survey, confirm our continued dominance in the region as Arab markets and economies assume greater international prominence."