QATAR. EFG Hermes Holding and QInvest have announced they have agreed to explore a potential strategic alliance. The aim is to create a leading investment bank with operations in the Arab world and beyond, comprehensively covering the Middle East, Africa, Turkey, and South and South East Asia.
Both institutions will immediately begin assessing potential synergies and proceed with discussions, following which an announcement as to whether an agreement has been reached or not will be made. In the case of an agreement, the parties will announce the general framework of a joint venture and a timetable for its implementation, subject to the appropriate regulatory approvals.
The businesses included within the scope of discussions will be Securities Brokerage, Asset Management and Investment Banking. EFG Hermes Private Equity will be excluded from the scope of discussions.
Commenting on this announcement, QInvest said: “We look forward to establishing a potential alliance with EFG Hermes that would position our firms to leverage continuing economic growth and play a pivotal role in the long-term development of the region.
“The alliance would enable us to bring the expertise necessary to capitalize on the desires of many regional and foreign investors who are seeking to play a significant role in the region’s economic development and are willing to invest across the Arab region, Africa and Asia. By bringing together our own capabilities at QInvest, with EFG Hermes’ position as the region’s largest investment banking presence across the Arab markets, we are confident we can create the leading investment banking platform of choice across Africa, the Arab world and South / South East Asia,” QInvest added.
EFG Hermes commented, saying: “We share a common vision with respect to the future prospects of various markets including Egypt and other high-potential economies in Africa and Asia.”
“A potential alliance with QInvest through which we can combine our expertise in our chosen businesses would be a significant turning point in supporting investments in the Arab world. Our primary objective in these discussions will be to create an investment banking platform that will play a vital role in the flow of foreign capital into the region while enabling Arab investors to participate in future investment opportunities in the regions that will fall under the umbrella of this new platform,” EFG Hermes concluded.
QInvest was licensed by the Qatar Financial Centre Authority in April 2007 and is authorised by the Qatar Financial Centre Regulatory Authority. The firm has authorized capital of USD 1 billion and paid up capital of USD 750 million.
The QInvest shareholder structure includes Qatar Islamic Bank and other institutional investors, as well as prominent high net worth individuals from across the region. The platform offers a broad range of expertise which enables QInvest to deliver a high value service to clients, seamlessly covering advisory, financing and investment needs. Business lines include investment banking, investment management, brokerage and wealth management, with dedicated origination and placement teams.
With over 130 staff, including 75 front office professionals, QInvest’s talented team of investment bankers brings a valuable mix of both international experience and regional knowledge, enabling the Firm to pursue opportunities across its chosen markets of the Middle East, Africa, Turkey, South Asia and South-East Asia.
Extending beyond this geographic focus, the firm also pursues opportunistic transactions globally where it identifies high value propositions for clients.
For further information about QInvest, please visit www.qinvest.com.
About EFG Hermes
Established in 1984, EFG Hermes is the leading investment bank in the Arab world. The Firm specializes in Securities Brokerage, Investment Banking, Asset Management, Private Equity and Research. EFG Hermes is listed on both the Egyptian and London stock exchanges. The recent acquisition of a 65% stake in Credit Libanais marks the first step towards EFG Hermes’s transformation into a universal bank and will enable it to rapidly expand into retail and commercial banking.
Through its operations in Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria and the UAE, with over 1,000 employees of 25 nationalities, EFG Hermes serves a considerable and diversified client base from the Middle East and North Africa to Europe, Africa and the United States. Our clients include governments, corporations, financial institutions, high net worth clients and individual customers.
For further information about EFG Hermes, please visit www.efghermes.com.