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VENTURES AFRICA – EFG Hermes, a leading investment bank in the MENA region, has appointed Karim Awad as Group Co-CEO of EFG Hermes Holding with immediate effect.
EFG Hermes, Egypt’s largest investment bank, has been without a second Chief Executive since October following the resignation of ex Group Co-CEO Hassan Heikal, leaving the sole control to current head Yasser El-Mallawany.
However, this appointment means management duties will once again be shared as both Yasser El-Mallawany and Karim Awad lead EFG Hermes Holding.
Awad was previously CEO of the Investment Bank at EFG Hermes and was earlier Head of Investment Banking, having joined the division in 1998.
The investment firm is both listed on the Egyptian and London Exchanges and operates offices across the Middle East including UAE, Qatar, Saudi Arabia, Oman, Kuwait and Lebanon.
At the filing of this report, EFG Hermes share price stood at $2.00 on the LSE .