Cairo – Mubasher: Egyptian Financial Group Hermes Holding (EFG Hermes) on Monday announced the opening of new headquarters in New York under the name EFG Hermes USA Inc.
The Egyptian financial services firm received the necessary licences to conduct its business operations in the US as of 1 September, the company said in a filing to the Egyptian Exchange (EGX).
The new HQ will serve as a starting point to providing services to the US market and will enable the group to expand its brokerage network and enhance the quality of its services to customers in the American market in general.
Commenting on the inauguration of the new HQ, EFG Hermes CEO Karim Awad said that the new HQ comes as part of the Group’s strategic expansions outside its main markets in the Middle East and North Africa (MENA).
Last month, EFG Hermes’ co-head of investment banking Mostafa Gad revealed that the Group had completed 10 investment deals exceeding $870 million in value since the start of 2017.
By 11:03 am Cairo time, EFG Hermes’ stock shed 0.28% to EGP 21.10.
