EFG Hermes Holding rebrands as EFG Holding

Image credit: EFG Holding

EFG Hermes Holding has successfully rebranded as EFG Holding to ensure the brand reflects the group’s expansion across three distinct verticals.

In addition, the EFG Hermes Foundation will now be called EFG Foundation.

Complemented by its slogan ‘Realize More’, the rebrand marks the group’s growth from one of Egypt’s first pure-play, independent investment banks to a financial ‘powerhouse’ that serves people across all income levels and companies of all sizes in 12 markets  — supported by 7,100 employees.

The three verticals under EFG Holding, the parent company led by group CEO Karim Awad, are:

• EFG Hermes: Positioned as a leading investment bank in frontier and emerging markets (FEM), the vertical consists of the group’s investment banking, securities brokerage, research, private equity, and asset management divisions. Through this franchise, EFG Holding provides its broad base of individual, institutional, and government-backed clients across the globe with advisory and capital management services in FEM. The investment bank is co-led by Mohamed Ebeid, CEO of the sell-side, and Karim Moussa, CEO of the buy-side.
• EFG Finance: The group’s NBFI (non-bank financial institution) platform in Egypt and a growth engine for financial inclusion, the vertical is home to numerous brands, including the leasing and factoring platform EFGCorp-Solutions, microfinance player Tanmeyah, mortgage finance provider Bedaya, insurance company Kaf, and e-payment platform PayTabs Egypt. The vertical is helmed by CEO Aladdin ElAfifi. While valU, the lifestyle enabling fintech solution in Egypt and a sub-brand of the group, is independently led by CEO Walid Hassouna.
• aiBANK: Since its acquisition by EFG Holding and The Sovereign Fund of Egypt (TSFE) in December 2021, the commercial bank has expanded and honed its retail, corporate, and Islamic banking offerings. The bank is led by CEO and managing director Tamer Seif.

The change in the brand name of the holding company will not impact the current management structure and reporting lines, day-to-day operations, or the level of support and cross-selling that will continue between the group’s three verticals and the level of support provided by the holding company, EFG Holding said.

EFG Hermes Holding Rebrands to EFG Holding, Signaling Strategic Transformation into a Trailblazing Financial Institution with a Universal Bank in Egypt and the Leading Investment Bank Franchise in Frontier and Emerging Markets.#UniversalBank #EFGHolding #FEM pic.twitter.com/csEHkIiS8T

— EFG Holding (@efghermes) May 25, 2023

EFG Holding: The way forward

“In recent years, the company’s business model has significantly evolved as we diversified our product offering and geographical presence to better serve our growing client base and to create value for our shareholders. It is this strategy that has allowed us to build what is now a financial powerhouse that provides businesses of all sizes and people of all income levels with the tools and access to finance that they need to live better lives, build their businesses, and drive sustainable change in the communities in which we live and work. It’s the optimal time to transform our brand to capture the breadth and magnitude of our product and service universe as well as reflect the resilience of our growth strategy,” said Awad, who has led the financial institution’s transformation since 2013.

Sharing his views about the company’s slogan, Awad said: “‘Realize More’ is the throughline from where we were almost 40 years ago to where we want to be tomorrow. Today, we realise more for clients looking to us as a gateway to some of the most compelling equities in FEM; for investors who want to deploy capital into impact investments in renewables, healthcare, and education; for consumers who need innovative financial solutions to gain financial freedom, from helping them purchase a home or educate their children; for businesses of all sizes looking to unlock their full potential; for shareholders who require visibility, profitability, and confidence in our growth strategies; and communities that need development to drive sustainable change.

“As we look ahead, our goal is to build an ecosystem of businesses that work seamlessly together to provide clients with best-in-class, end-to-end financial solutions at every stage of their lives or of the growth of their businesses, creating a positive impact on societies, economies, and the environment.”