EFG Hermes looks at expanding into one or two new markets this year

EFG Hermes is looking at one or two new markets this year in South East Asia to add to the 12 countries the firm is operating in, CEO Karim Awad told Bloomberg interviewers in Dubaion the sidelines of the EFG One on One conference. “The investment won’t be big and will involve building market share from the ground up,” he said. Frontier unit CEO Ali Khalpey previously said the investment bank is eyeing expansion into Vietnam, alongside its focus on consolidating its share in recently entered African markets. EFG Hermes announced last year that it had bought Nigerian brokerage and research firm Primera Africa Securities Ltd. The firm also obtained a stock brokering license in Kenya, and plans to use Nigeria as a regional hub for its African plans.