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Monday, 5 July 2021

Shakeup at the EGX board

The EGX was out yesterday with a list of nominees to fill its board of director seats for the 2021-2025 term, according to an official statement (pdf). Prime Securities Brokerage Managing Director Shawkat El Maraghy (LinkedIn) and Osool ESB’s Ehab Saied (bio) are among those vying for a seat to represent brokerage firms, while vice chairman and managing director of asset manager Azimut Ahmed Abou El Saad (LinkedIn) and Porto Group Chairman Gamal Fatahallah (LinkedIn) are both competing for a separate seat to represent other capital markets firms. Odin Investments CEO Hashem El Sayed (bio), meanwhile, is the only candidate vying for the seat representing EGX30-listed companies. It’s still unclear when the exchange will announce the election results.

Changes at the FRA board as well: The National Training Academy’s Executive Director Rascha Ragheb (LinkedIn) and former MP Marianne Azer (LinkedIn) have joined the board of directors of the Financial Regulatory Authority (FRA), according to a statement out yesterday.

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