EFG Hermes Holding has rebranded as EFG Holding to ensure the brand evolves in line with the banking group’s expansion across three distinct verticals; EFG Hermes the investment bank, EFG Finance the non-bank financial institution’s platform and aiBANK the commercial bank.
The name change on the group level will entail changing the EFG Hermes Foundation’s name to become the EFG Foundation. The banking group 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.
EFG Holding has $4.5 billion in regional assets under management and is present in 12 countries across four continents.
The rebrand reflects the group’s growth from one of Egypt’s 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 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,” said Karim Awad, group CEO of EFG Holding.
“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.”
The three verticals under EFG Holding:
EFG Hermes – the leading investment bank in frontier and emerging markets and the group’s investment banking, securities brokerage, research, private equity and asset management divisions.
EFG Finance – is a non-bank financial institution platform in Egypt and a growth engine for financial inclusion.
aiBANK – since its acquisition by EFG Holding and The Sovereign Fund of Egypt 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 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.