Cairo: EFG Hermes Holding, an impact-focused universal bank in Egypt with the first investment banking franchise in frontier emerging markets (FEM), today announced the appointment of Aladdin ElAfifi as the new CEO of its NBFI platform effective August 1, 2022. With his appointment, ElAfifi will assume overall responsibility for the management of EFG Hermes’ current NBFI portfolio, excluding the fintech platform Buy-Now, Pay-Later (BNPL) valU, where he will become a non-executive member of the board of directors representing the majority shareholder. ElAfifi will also be responsible for growing NBFI’s operations through the addition of new services, either organically or through acquisitions.
With an MBA from the Wharton School at the University of Pennsylvania, Aladdin has more than 23 years’ experience with blue-chip employers including Goldman Sachs, Qalaa Holdings, and a previous stint on the team. of EFG Hermes’ investment bank. His last position was Managing Director and Co-CEO of Pharos Holding for Financial Investments, where he was instrumental in founding Kashat, Egypt’s first nano-loan fintech start-up. ElAfifi also recently co-founded Cairo-based real estate investment management and advisory firm, 46 Group.
EFG Hermes firmly believes in the growth potential of the NBFI vertical. After starting with leasing in 2015, the company has invested heavily in growing the platform to now include microfinance, factoring, mortgage, electronic payments and insurance. With the recent acquisition of Fatura by Tanmeyah, commitment to the business remains strong as Tanmeyah prepares for an increasingly digital future. With a strong management team, ElAfifi is poised to execute the company’s strategy while further institutionalizing the business and preparing it for potential monetization when conditions are right.
“We are extremely excited to once again welcome an industry veteran like Aladdin, who will be a great addition to the EFG Hermes family. I believe that the experience and progressive mindset of ElAfifi will be an asset for the next chapter of growth and diversification of the NBFI platform. This vertical can experience further expansion and remarkable success with dedicated and forward-looking leadership. We are confident that this trend will continue under the leadership of Mr. ElAfifi,” said Karim Awad, Group Managing Director of EFG Hermes Holding.
About EFG Hermes Holding
With a current footprint spanning 13 countries on four continents, EFG Hermes Holding (EGX: HRHO.CA – LSE: EFGD) has grown over 38 successful years from a pure-play investment bank in the MENA region to an impact-focused universal bank in Egypt with the first investment banking franchise in frontier emerging markets (FEM). With our proven track record and a diverse team of talented employees, we provide a wide range of financial services that include advisory, asset management, securities brokerage, research and private equity in the entire GEF region. In our home country, we have the fastest growing Non-Banking Financial Institutions (NBFI) platform with operations spanning Microfinance, Leasing, Factoring, Buy-Now Pay-Later (BNPL), digital payment solutions, mortgage financing and insurance.
Through its three verticals, Investment Banking, Non-Banking Financial Institutions (NBFIs) and Commercial Banking, the group is uniquely positioned to consistently bring disruptive financial products and services to market, delivering a holistic portfolio that serves its growing base of individual and business customers of all sizes.
Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Omani | Jordan | pakistan | United Kingdom | Kenya | United States | Bangladesh | Nigeria | Vietnam