Daily News Egypt

EFG Hermes appoints new chief CEO for UAE operations - Daily News Egypt

Advertising Area

Advertising Area

EFG Hermes appoints new chief CEO for UAE operations

Moustafa El Chiati, an investment banking veteran with EFG Hermes, took up his duties as CEO of EFG Hermes’ UAE Operations on 1 April

EFG Hermes, the region’s leading investment bank, announced the appointment of Moustafa El Chiati as the CEO of EFG Hermes’ UAE Operations, the firm’s second-largest regional office, established in 2002. A 13-year banking veteran, El Chiati has a strong track record of leading high-profile mergers and acquisitions transactions as well as equity and debt offerings to a variety of the firm’s clients who operate across multiple industries in various regional markets.

Commenting on the appointment, EFG Hermes Group CEO Karim Awad said: “With the ongoing expansion of EFG Hermes’ geographical presence, coverage has become increasingly important to our business and to the value we intend to create for our shareholders. Accordingly, Moustafa El Chiati will move from his position in the firm’s Investment Banking Division to become CEO of EFG Hermes’ UAE Operations, handling all corporate duties in that jurisdiction. His work ethic, dedication to our core values and accumulated experience will most augment the potential of our UAE business.”

El Chiati most recently led the successful initial public offering on the Egyptian Exchange of the Arabian Food Industries Company (Domty) and Edita Food Industries (Edita). His transnational track record also includes Egypt’s first successful tradable rights issue, the sale of a leading private hospital to Abraaj Group, the acquisition of Olympic Group by Sweden’s Elextrolux AB, and several bond issuances, among other transactions.

The appointment, among others, comes as EFG Hermes takes the first of a number of strategic moves that will set in place the foundation of growth over the next five years. EFG Hermes Finance, the firm’s platform in the non-bank financial services sector, recently acquired a majority stake in Tanmeyah, Egypt’s leading microfinance provider. Late last month, EFG Hermes disclosed its intent to acquire a controlling stake in Pakistan’s Invest and Finance Securities Ltd as it prepares to take its investment banking operations into frontier markets.

Topics: EFG Hermes

Advertising Area

Breaking News

No current breaking news

Receive our daily newsletter