Abu Dhabi investment authority accumulates an 8% stake in EFG-Hermes Holding
The Abu Dhabi Investment Authority (ADIA), one of the leading investment institutions in the world, has accumulated an 8% stake in regional investment bank EFG-Hermes. The deal gives ADIA a seat on EFG-Hermes Holding’s Board of Directors, and further institutionalises the EFG-Hermes shareholder base.
Over the last twelve months EFG-Hermes has seen impressive regional growth and continued positive financial performance. Driven by diversification of services into retail products and regional expansion across GCC markets including Saudi Arabia, EFG-Hermes has remained unaffected by the volatility of regional markets and has moved into 2007 cementing its position as a premier regional investment bank.
“ADIA is a leading force and authority across the region. Their investment highlights the confidence the market has in EFG-Hermes, and is invaluable to our plans to innovate and evolve” said Hassan Heikal, Co-chairman and CEO of EFG-Hermes.
Established in 1984 in Egypt, EFG-Hermes is a market leader across the breadth of its business lines, being Brokerage, Asset Management and Investment Banking, and has since established a presence in regional markets, in the UAE in 2005 and more recently in the Kingdom of Saudi Arabia.