EFG Hermes Board of Directors Names Karim Awad as Group Co-CEO

Investment banking veteran joins Yasser El-Mallawany as CEO of EFG Hermes Holding S.A.E.

EFG-Hermes (HRHO.CA), the leading investment bank in the Arab world, announced on Monday that the firm’s Board of Directors convened on 16 December and appointed Karim Awad as Group Co-CEO of EFG Hermes Holding with immediate effect.

Awad was previously CEO of the Investment Bank at EFG Hermes and was earlier Head of Investment Banking, having joined the division in 1998.

Awad has a long track record advising major corporations on equity offerings and M&A transactions and was instrumental in the development of EFG Hermes’s debt advisory practice. He has led and closed transactions with an aggregate value of more than USD 15 billion. As CEO of the Investment Bank, he planned and helped execute the company’s restructuring plan, which aims to streamline operations and reach an operating expense target of LE 500 million in 2014.

The firm is now led by both Yasser El-Mallawany and Karim Awad as Co-Chief Executive Officers of EFG Hermes Holding.