02 August 2015Sadiq Hussain joins EFG Hermes Asset Management as Head of Business Development based out of Dubai; Hussain brings25 years of experience with leading global companies such as J.P. Morgan, Bank of America Merrill Lynch andING Barings
Dubai - EFG Hermes, the leading investment bank in the Arab world, announced today the appointment of industry veteran Sadiq Hussain as Managing Director at the firm's market-leading Asset Management Division to head Business Development.
With exceptionally strong,25years of international experiencein emerging and regional markets, Hussain joins EFG Hermes from J.P. Morgan Securities in Dubai,where he worked for the last eight years as Head of MENA Equities and Global Frontier Markets. He has previously held posts in ING Barings (New York), Bank of America Merrill Lynch (Hong Kong) andAKD Investment Management (Karachi).
"I am delighted to welcome Sadiq as a senior member of Asset Management.He will be a valued member of the team.Hiring him is evidence that we commit quality resources to achieve our target of widening our sales and distribution reach geographically and to contribute to the overall development of our product range. I welcome Sadiq and expect him to deliver with excellence," said Amr Seif, Head of EFG Hermes Asset Management.
Hussain'sdiverse international experience combined with his knowledge of frontier markets, an area in which EFG Hermes Asset Management is currently looking to expand, will help to enhance the firm's sales and distribution reach globally. His appointment is a testament to EFG Hermes'commitment to expanding its investment universe and subsequently its Assets Under Management. The bolstering of our sales team alongside our highly-experienced fund management professionals adds to EFG Hermes' high quality human resources and thus positions our core Asset Management business for further growth in the years to come.
"I am pleased to join an organisation that has consistently outperformed and delivered substantial returns to its clients with a high level of professionalism. I intend to leverage my global experience and expand EFG Hermes Asset Management's products to a wider international client base. In addition, I aim to work closely with key members of the team to continuously look at ways to enhance the product offerings and ensure we preserve and grow our assets under management," said Hussain.
Hussain, a graduate of the Wharton School of Business, University of Pennsylvania, will assume his duties at EFG Hermes Asset Management as of 2 August 2015based in Dubai and will be reporting directly to Amr Seif, Division Head.
EFG Hermes Asset Management is the premier investment manager in the Middle East and North Africa. With USD 3billion in assets under management (AUM), the division offers a wide variety of funds and portfolios to an equally diverse range of clientsbacked by on-the-ground presence that spans the MENA region.
EFG Hermes Asset Management has won a string of accolades in 2015 for the consistent performance of its funds, which continue to outperform market averages. The team has most recently been recognised by the prestigious Thomson Reuters Lipper Fund Awards for Best Fund in Egypt for EFG Banque du Caire I (Cumulative) at the 3rd MENA Asset Management Conference.The excellent performance of the division has also been acknowledged at this year's MENA FM Fund Performance Awards, where it was awarded "Egypt Asset Manager of the Year," "Hedge Fund of the Year" for the MENA Opportunities Fund and "Saudi Equity Fund of the Year - 3 Year Performance" for the EFG-Hermes Saudi Arabia Equity Fund. Additionally, the Bank of Alexandria III Fixed Income Fund won the "Highly Commendable Certificate - 3 Year Performance" award and the Credit Agricole III Money Market Fund was awarded the "Highly Commendable Certificate" for MENA money market funds.
About EFG Hermes Asset Management
EFG Hermes Asset Management is the leading asset manager in the Arab world with c. USD 3 billion in assets under management. Its team of 46 professionals across three countries manages 18 country-specific and nine regionally dedicated funds, in addition to a number of dedicated portfolios, making it among the largest investment managers in the region.
The Division is a market pioneer that manages a diversified portfolio of top performing funds and dedicated portfolios. Its product offering includes traditional and alternative investment solutions including equity, fixed income, money market, balanced, capital protected, as well as Sharia-compliant (Islamic) funds and portfolios and boasts a distinguished track record that dates back 19 years, the longest in the region. Its clients include institutional investors, family offices, as well as high-net worth individuals among others.
About EFG Hermes
Established in 1984, EFG Hermes is the leading investment bank in the Arab world and draws on 30 years of experience to serve as the preeminent investment bank in the region, providing a comprehensive spectrum of financial services including Investment Banking, Asset Management, Securities Brokerage, Research and Private Equity. Additionally, EFG Hermes owns a 63.7% majority stake in the Lebanese commercial bank CréditLibanais. EFG Hermes is listed on both the Egyptian and London stock exchanges.
Through its operations in Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia and the UAE, and with more than 800 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.
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Note on Forward-Looking Statements
In this press release, EFG Hermes may make forward looking statements, including, for example, statements about management's expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Hermes' belief regarding future events, many of which, by their nature are inherently uncertain and are beyond management's control and include among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
© Press Release 2015