EFG-Hermes Appoints Finance Industry Veteran as New CFO

Khalid Ellaicy brings more than 27 years of regional industry experience to his new post as Chief Financial Officer of the leading investment bank in the Arab world.

EFG Hermes (HRHO.CA), the leading investment bank in the Arab world, announced today that distinguished finance industry veteran, Khalid Ellaicy has been appointed as the firm’s new CFO. Ellaicy joins the firm with decades of invaluable experience with global and regional multinationals.

Elliacy, who assumes his duties at EFG Hermes effective today 2 January 2014, joins the firm from Orascom Telecom (OT), where he was CFO for two years. In addition to being in charge of the finance functions at this leading telecommunication provider in Africa, Asia and North America, Ellaicy was responsible for managing and coordinating the functions of the CFOs’ of all OT’s operating companies.

“We are very pleased to welcome Khalid on board, his experience as CFO of a global telecom group with operations in six countries is exactly what EFG Hermes needs as we embark upon the next chapter of our growth story,” said Yasser El Mallawany Co-CEO of EFG Hermes Holding. “His leadership skills and efficiency are impressive to say the least and I speak on behalf of the entire firm when I say we look forward to working with Khalid.”

Ellaicy’s previous experience also includes serving as CFO of Batelco, Bahrain’s premier telecommunications group with operations throughout the Middle East. Ellaicy played an important role in helping drive Batelco’s regional expansion strategy.

“Khalid has proven capabilities in managing cost efficiency, improving profitability and increasing shareholder value,” said Karim Awad, Co-CEO of EFG Hermes Holding. “In his new role he will help ensure that we continue to operate as a lean organization with maximum efficiency across all lines of business while maintaining a sharp focus on creating value for our shareholders.”

A large bulk of Ellaicy’s professional career was nevertheless spent with leading Egyptian mobile operator, Mobinil where as CFO he led a world class finance team to achieve major goals such as securing billions of dollars in financing and renegotiating debt. It is also worth noting that in 1995 Ellaicy was promoted to partner at KPMG, becoming the youngest partner in the history of the firm’s practice in Egypt.

“I am honoured to be joining EFG Hermes, a firm that has proven its resilience and ability to grow its market leadership throughout the region,” said Ellaicy. I look forward to working with each and every member of the team to build on the excellent track record that the firm has already established over 3 decades.”