(MENAFN- Daily News Egypt)
EFG Hermes Holding announced today that it has successfully rebranded to EFG Holding to ensure the brand evolves in line with the Group's expansion across three distinct verticals: EFG Hermes the investment bank, EFG Finance the non-bank financial institutions (NBFI) platform, and aiBANK the commercial bank. In addition, the name change on the group level will entail changing the EFG Hermes Foundation's name to become the EFG Foundation . Today, EFG Holding stands as a trailblazing financial institution providing boundless financial opportunities with a universal bank in Egypt and the leading investment bank franchise in Frontier and Emerging Markets (FEM), consistently offering customers best-in-class, end-to-end financial services.
With a shared vision, purpose, and set of values under the new slogan ' Realize More ', the rebrand reflects EFG Holding's growth from one of Egypt's first pure-play, independent investment banks to what is now a financial powerhouse with the ability to serve people of all income levels and companies of all sizes across 12 markets through the unmatched expertise of over 7,100 employees.
“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 is 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 Group CEO of EFG Holding Karim Awad, who has led the financial institution's transformation since 2013.
The three verticals under EFG Holding, the parent company led by Group CEO Karim Awad, are:
EFG Hermes –the leading investment bank in Frontier and Emerging Markets (FEM), the vertical is home to 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 a holistic suite of 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 fastest-growing NBFI platform in Egypt and a growth engine for financial inclusion, the vertical is home to numerous brands, including leasing and factoring platform EFG Corp-Solutions , microfinance player Tanmeyah, mortgage finance provider Bedaya , insurance company Kaf , and e-payment platform PayTabs Egypt . The vertical is led by CEO Aladdin ElAfifi. While valU , the leading 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 been on an impressive growth trajectory to expand and hone 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.
' Realize More' is the throughline from where we were almost 40 years ago to where we want to be tomorrow. Today, we realize 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 on the growth of their businesses, creating a positive impact on societies, economies, and the environment,” added Awad.