Cairo - Mubasher: EFG Hermes said it accelerated expansion of its frontier markets drive as it continues its transformation into a premier frontier finance house with footprint that spans some of the world’s most compelling emerging and frontier markets.
EFG Hermes frontier will be headed by Ali Khalpey, said an official press release.
Khalpey owns 20-year veteran of frontier and emerging markets with a proven record of accomplishment spanning from London and New York to Johannesburg.
“The firm is pursuing a license in another frontier market and is carefully studying the potential to make other opportunistic expansions across frontier markets as part of our 2017 plans," said Mohamed Ebeid, Co-Head of Securities Brokerage at EFG Hermes.
EFG Hermes Research aims to increase its coverage universe to more than 200 stocks from 155 today, with a significant portion of the expansion set to come from initiation of coverage on the ground in frontier markets, noted Khalpey.
The expansion of EFG Hermes Frontier comes just weeks after the firm announced it is seeking regulatory approval to open EFG Hermes USA to directly serve US-based institutional clients seeking exposure to MENA and frontier markets.
