EFG-Hermes maintains its position as Egypt’s premier investment bank with another year of resilient performance across all lines of business
EFG-Hermes Holding (HRHO.CA), the leading investment bank in the Arab world, has been recognized as the “Best Investment Bank in Egypt” in the Euromoney Awards for Excellence 2013. The prestigious recognition is a testament to the firm’s continued market leadership in Egypt and the region across all lines of business despite a challenging operational environment that has seen international and local players alike retreat from the field.
“From high-profile transactions to our continued leadership of the Arab world’s securities market, EFG-Hermes’ strength in 2012 was a direct outgrowth of an experienced and creative home-grown team and its remarkable ability to see through challenges,” said Karim Awad, Co-Chief Executive Officer for the Investment Bank at EFG-Hermes. “To win such an accolade at the end of a very challenging year market-wide is gratifying to the entire team.”
EFG-Hermes Investment Banking closed three landmark transactions in Egypt in 2012, including closing the largest private placement in Egypt since 2007 for Egyptian Refining Company; advising on demerger of Orascom Telecom Holding (ORTE.CA), the first-ever demerger in Egypt ; ; as well as on the merger of leading Egyptian medical laboratories Al-Borg and Al-Mokhtabar in what stands as the largest deal in the health sector across the Arab world. In addition, 2012 saw the division advising Mannai Corporation on the acquisition of 78% of Damas Group in the UAE in a landmark US$ 445 million transaction.
Meanwhile, EFG-Hermes Securities Brokerage again closed 2012 with a number-one ranking in Egypt and a leading position across other regional markets, particularly in the Gulf Cooperation Council countries. Securities Brokerage has ambitious plans for 2013 to deliver an even more compelling client experience across the platform for retail and institutional investors alike.
At EFG-Hermes Asset Management, a leading regional asset management franchise, the team delivered an outstanding performance in 2012, winning multiple awards and closing the year with five managed funds ranked number-one in their categories with two other funds ranked number two. Notably, the division won awards for performance across the region as well.
The strength of the firm’s total offering was enhanced in 2012 by another outstanding year for EFG-Hermes Research, which was again ranked the number-one research house in the region in the 2012 Euromoney MENA Research Poll, a position it has held in five of the past six years. The division comprehensively covers 124 companies and 11 economies and launched in 2012 a unique portal, Research Online, offering high net-worth and institutional clients alike a single point of access to the entire research offering.
“While it is clear our region will continue to face headwinds in the medium term, revenue generation remains a top focus for all divisions within the firm as we look to preserve our market share in our home market of Egypt while capturing new regional opportunities,” concluded Awad. “Our performance in 2012 offers an outstanding platform from which to grow. Our team’s challenge is to seek them out on behalf of our clients and our shareholders; I have no doubt we are up to the task.”
The Euromoney Awards for Excellence 2013 were presented at an awards dinner on May 29 in Dubai. Profitability, demonstrated growth, relative outperformance compared with peers and the ability to adapt to changing market conditions and / or client needs were all taken into consideration by Euromoney when determining the award winners.