{"id":617824,"date":"2024-03-28T00:00:00","date_gmt":"2024-03-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/28\/efg-holding-plans-to-expand-its-ksa-team-by-one-third-this-year\/"},"modified":"2024-03-28T00:00:00","modified_gmt":"2024-03-28T00:00:00","slug":"efg-holding-plans-to-expand-its-ksa-team-by-one-third-this-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/28\/efg-holding-plans-to-expand-its-ksa-team-by-one-third-this-year\/","title":{"rendered":"EFG Holding plans to expand its KSA team by one-third this year"},"content":{"rendered":"

EFG Holding eyes Saudi expansion as more businesses go public:<\/strong> EFG Holding plans to increase its staff in Saudi Arabia by 30% to 47 people as its investment bank arm, EFG Hermes, gears up to be involved in as many as six IPOs in the kingdom this year, the company\u2019s CEO Karim Awad told Bloomberg<\/a>. \u201cWe have big plans for hopefully increasing our market share, either at brokerage or investment banking.\u201d<\/p>\n

The Saudi appeal: <\/strong>The kingdom boasts a diverse range of industries in addition to strongliquidity and investor base, Awad said.<\/p>\n

Remember: <\/strong>In the cards in KSA this year is a USD 20 bn secondary sale in Aramco, whoseIPO saw EFG Hermes act as a bookrunner back in 2019<\/a>. The Public Investment Fund is also mulling more equity offerings in its portfolio companies, Bloomberg<\/a> reported last month. <\/p>\n

What does EFG Hermes have in store outside KSA?<\/strong> The investment bank has three to four IPO transactions pending in the UAE, one in Kuwait, and up to two in Egypt, Bloomberg says. Awad said that the bank also plans to continue upping its headcount in the UAE \u2014 its biggest overseas office \u2014 where currently a team of 130 employees is based.<\/p>\n

On home soil: <\/strong>Egypt has \u201cturned an important corner\u201d in light of recent FX inflows and the float of the EGP, but to revive its IPO market, \u201cyou will have to see more foreign inflows into the stock market and more investments, and I believe it\u2019ll come,\u201d Awad added.<\/p>\n","protected":false},"excerpt":{"rendered":"

EFG Holding wants to boost its market share in the kingdom either at brokerage or investment banking<\/p>\n","protected":false},"author":1,"featured_media":617825,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7691],"tags":[84,72,7087,78,2460,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-617824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-efg-hermes","tag-enterpriseam","tag-finance","tag-ipo-watch","tag-karim-awad","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"8be3b57e-4cc8-466a-907f-ce8330c9d05c","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1885.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EFG Holding plans to expand its team in Saudi Arabia by one-third this year","related_issue":[617813],"teaser":"EFG Holding wants to boost its market share in the kingdom either at brokerage or investment banking","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.71889795-0650-4e23-8f39-6a77b22198ad.mp3"},"yoast_head":"\nEFG Holding plans to expand its KSA team by one-third this year - 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Altassan joins EFG Hermes\u2019 operations in the kingdom from Bank of America, where he served as the head of investment banking for KSA. He was previously CEO of Swicorp\u2026","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597193,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/18\/efg-to-invest-usd-60-mn-in-education-pharma-acquisitions\/","url_meta":{"origin":617824,"position":3},"title":"EFG to invest USD 60 mn in education, pharma acquisitions","author":"enterpriseam admin","date":"18 July 2019","format":false,"excerpt":"INVESTMENT WATCH- EFG Hermes to invest USD 60 mn in education, pharma acquisitions: EFG Hermes is set to acquire schools in Cairo and Alexandria in a USD 30 mn transaction, and will invest another USD 30 mn in a transaction in the pharma sector, Private Equity Head Karim Moussa said\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/efg-hermes-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":587448,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/28\/efg-hermes-holding-is-now-efg-holding\/","url_meta":{"origin":617824,"position":4},"title":"EFG Hermes Holding is now EFG Holding","author":"enterpriseam admin","date":"28 May 2023","format":false,"excerpt":"EFG Hermes Holding has officially rebranded to EFG Holding after the company\u2019s shareholders signed off on the change during last week\u2019s annual general meeting, according to a statement (pdf). The rebrand \u201creflects EFG Holding\u2019s growth from one of Egypt\u2019s first pure-play, independent investment banks to what is now a financial\u2026","rel":"","context":"In "Finance"","block_context":{"text":"Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1447.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597668,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/13\/efg-holding-net-income-rises-20-y-o-y-in-2q-2023\/","url_meta":{"origin":617824,"position":5},"title":"EFG Holding net income rises 20% y-o-y in 2Q 2023","author":"enterpriseam admin","date":"13 August 2023","format":false,"excerpt":"The group\u2019s investment banking, commercial banking and non-bank financial services arms all reported revenue growth","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/530.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=617824"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617824\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/617813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/617825"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=617824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=617824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=617824"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=617824"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=617824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}