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Tuesday, 6 March 2018

Karim Awad remarks

EFG Hermes Group Chief Executive Officer got things underway with opening remarks that highlighted transformation—of both the One on One and the firm. The One on One now stands as the largest frontier- and MENA-dedicated conference globally, a sharp change from its “very humble beginnings in Sharm El Sheikh in 2002 …back then, we must have had something like six Egyptian companies and around a dozen investors at best,” Awad noted.

The firm has undergone a similar transformation under his leadership, with Awad noting that, “Today, we look at our firm not as an investment bank, but as a provider of financial services to retail, HNW, institutional and corporate clients in the MENA and frontier region. To see this vision through, we have expanded our presence to Pakistan, Kenya, Bangladesh, the US and the UK providing our clients a wider reach than ever before.”

Key takeaways:

EFG Hermes’ transaction pipeline includes its first frontier markets IPO, slated for potential execution this year. That’s coming off a year in which the firm’s corporate advisory franchise executed 16 transactions and landed a number one ranking in the regional Thomson Reuters ECM league table

The firm is now the largest buy-side house in MENA following its investment last year in FIM and the finalization of its third renewable energy investment in Europe, bringing its total AUM to c. USD 5 bn. Expect new buy-side products from the firm this year, including one to be announced “in the coming weeks,” Awad said.

Investing responsibly: EFG Hermes has become the first Egyptian financial institution to sign the United Nations’ Principles for Responsible Investment.

Read Karim’s full speech here (pdf).

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