Back to the complete issue
Monday, 24 December 2018

Egypt’s Misr Capital Investments hires new team to lead restructuring

Banque Misr’s investment banking arm gets new team amid restructuring plans: Misr Capital Investments, the investment banking arm of state-owned Banque Misr, has hired a team (pdf) of veteran investment bankers and financial professionals, giving them a mandate to transform the outfit into a full-fledged investment bank.

Misr Capital Investments’ new co-CEO and MD is Khalil El Bawab (LinkedIn), who joins the bank after a more than 10-year run with EFG Hermes, where he was most recently head of fixed income at the firm’s asset management arm. Joining him are Omar Radwan (LinkedIn), a veteran of HC Securities and EFG Hermes, as chief operating officer, and Omar Ascar (LinkedIn) as senior investment manager. Staffing up in the first quarter is among the team’s first priorities, El Bawab said.

Restructuring + a wide service offering: The new team will aim to restructure the bank’s assets, create new value and put MCI’s existing licenses to work — all while keeping an eye on new opportunities. “We have very promising plans that will compliment Banque Misr’s activities. As an independent entity, we will be providing our bundle of services to public and private institutions,” El Bawab told us, adding that MCI is looking closely at the fintech space amid the Madbouly government’s drive to push for financial inclusion.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.