Yasser El Mallawany
EFG Hermes appoints new CFO
Cairo, January 2, 2014
EFG Hermes, a leading investment bank in the Arab world, has appointed finance industry veteran Khalid Ellaicy as the firm’s new chief financial officer (CFO).
Ellaicy, who assumes his duties at EFG Hermes effective today (January 2), joins the firm from Orascom Telecom (OT), where he was CFO for two years.
In addition to being in charge of the finance functions at this leading telecommunication provider in Africa, Asia and North America, Ellaicy was responsible for managing and coordinating the functions of the CFOs’ of all OT’s operating companies.
“We are very pleased to welcome Khalid on board, his experience as CFO of a global telecom group with operations in six countries is exactly what EFG Hermes needs as we embark upon the next chapter of our growth story,” said Yasser El Mallawany Co-CEO of EFG Hermes Holding. “His leadership skills and efficiency are impressive to say the least and I speak on behalf of the entire firm when I say we look forward to working with Khalid.”
“Khalid has proven capabilities in managing cost efficiency, improving profitability and increasing shareholder value,” said Karim Awad, Co-CEO of EFG Hermes Holding. “In his new role he will help ensure that we continue to operate as a lean organization with maximum efficiency across all lines of business while maintaining a sharp focus on creating value for our shareholders.”
“I am honoured to be joining EFG Hermes, a firm that has proven its resilience and ability to grow its market leadership throughout the region,” said Ellaicy. “I look forward to working with each and every member of the team to build on the excellent track record that the firm has already established over three decades.” – TradeArabia News Service