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Investment Banking Efg Hermes Essay

4568 words - 19 pages

Investment Banking EFGHremes

Introduction to the topic:

The topic we are approaching is Fund Management Companies; the job of those companies is to manage the funds or in simpler terms the money of the individuals or the corporations. They take the money and invest it through one of many different methods like buying shares in a promising company, for example. This is very simply what fund management companies do.

What we did is that we chose a practical example for a fund management company operating in Egypt to see what they are really doing. We chose EFG-HERMES to be our example. Throughout the paper we will discuss the company and its different investments concentrating on ...view middle of the document...


The Egyptian Financial Group (EFG) was established in 1980 as the first investment banking firm in Egypt. For more than 15 years it offered its clients a variety of services and was involved in a large number of privatization studies for the Egyptian government. EFG moved into brokerage in 1993 and Asset management in 1994. EFG established the first equity index in Egypt.

In 1994, Hermes was established as another leading financial services company based on the international experience gained by its founders in the U.S.A . and on a young energetic team. Hermes showed great success in securities brokerage and fund management.

The Merger
When the local market had reached a point where large financial institutions were needed with real financial muscles and a wide network of local and international clients, the two firms decided to merge.

In 1996, EFG-Hermes was born out of the highly publicized merger between the Egyptian Financial Group (EFG) and Hermes Financial.

EFG - Hermes Now
The company's present structure reflects the consolidation of several ventures. Created with the merger in June 1996 of the Egyptian Financial Group (EFG) and the Hermes Financial Group, EFG-Hermes conducts business through 10 operating subsidiaries, located in Egypt and offshore.

The process of centralizing and institutionalizing the combined company's procedures continued through 1998, with emphasis on streamlining the operations of subsidiaries and minimizing risk. Changes aimed at eliminating bottlenecks included new account-opening forms and a different formula for commissions.

EFG-Hermes' activities are regulated by the Egyptian Capital Market Authority, and the firm also has a secondary regulatory reporting line with the London Stock Exchange, following its listing on 28 July 1998.
EFG-Hermes is organized into five principal divisions (which will be discussed in detail further in the paper) :

1) Investment Banking
2) Securities Brokerage
3) Private Equity
4) Fund Management
5) Portfolio Management

Mission & Objective
EFG-Hermes Asset Management aims to be the leading investment manager for private and institutional portfolios in Egypt, The Middle East and North Africa.

The company can aspire to this goal through achieving premium investment performance in the innovative products and solutions that it bring to an increasingly competitive market. EFG-Hermes believes a thorough, research-driven approach to its investment decision-making is necessary to the successful growth of its business.

The Group's internal systems are always tailored to manage the growing diversity of products and resources, ensuring that it maintains the highest professional standards in all its activities.

EFG-Hermes Asset Management has the skills and flexibility to cater for a wide range of clients with different needs. It guarantees that the interests of their clients are protected and monitored through...

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