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Monday, 8 October 2018

The renaissance of Egyptian investment banking

** #5 Euromoney pens love letter to Egyptian investment banks: After singing the praises of EFG Hermes, which has led the Egyptian industry’s push into both non-bank financial services and regional markets, Euromoney notes in its mash letter that “Beyond EFG Hermes, long the unrivalled leader of Egyptian investment banking, firms such as CI Capital and Pharos Holding are demonstrating that they, too, have ambition. Such is the sector’s appeal that Naguib Sawiris, the founder of telecom firm Orascom and one of Egypt’s richest men, has entered investment banking, buying Beltone Financial in 2015 and investing heavily in its growth in Egypt and globally.” The epically long piece gets plenty right and serves as a good overview of the industry to those who have not previously been indoctrinated into the Priesthood of the Grand Wizards of High Finance. Read: The renaissance of Egyptian investment banking.

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