EFG Hermes is best in frontier, second in MENA in 2018 Extel Survey; CI Capital third in MENA. Egypt-based investment banks had a strong showing in the 2018 Extel survey ranking research provided by brokerage houses, which saw 11,000 financial professionals at more than 4,000 firms (nearly 2,700 of them on the buy side) cast votes. EFG Hermes won the nod as the number-one frontier market brokerage firm, up from ninth place in 2017. The win comes just two years into the firm’s expansion drive into frontier emerging markets. EFG was also ranked number two in MENA behind HSBC and saw an unprecedented nine individual analysts make the top 20, including our friends Elena Sanchez-Cabezudo (financials, #3), Mohamed Abu Basha (economics, #5), Hatem Alaa (consumer, #6) and Nada Amin (consumer, #8) in the top ten. CI Capital ranked third in MENA, the firm noted in a statement (pdf) yesterday.

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