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​The Team

EFG Hermes Securities Brokerage:


Ahmed Waly

Head of Group Brokerage​

Ahmed Waly joined EFG Hermes in 1999 and held numerous positions across the sales & sales trading desks at the Financial Brokerage Group (FBG), which included heading the USA institutional sales desk. He moved to New York in 2003 with Auerbach Grayson & Co in the position of Vice President of Emerging Markets. Ahmed moved back to the region in 2005 to set up and head the National Bank of Kuwait’s brokerage arm. He then returned to EFG Hermes in 2009 as the CEO of EFG Hermes IFA. Ahmed currently boasts more than 20 years of experience; he is now EFG Hermes’ Head of Group Brokerage and CEO of EFG Hermes IFA in Kuwait.

Sameh Assran

Deputy Head of Group Brokerage​

Sameh Assran joined the firm in August 1998 as Head of Trading for Hermes Securities Brokerage (HSB). Recognized as the founder of the retail brokerage arm for the firm in Egypt, his role has since grown significantly; he currently oversees the firm’s retail business in the region and serves as the Co–Head of Egypt Brokerage and the Deputy Head of Group Brokerage. Sameh boasts over 20 years’ experience in the Egyptian equity market.

Rami Ashraf

Co–Head of Egypt Brokerage

Rami Ashraf joined EFG Hermes in 1999 and is currently the Co-Head of Egypt Brokerage. Until 2002, he used to cover GCC HNW and retail investors under Hermes Securities Brokerage and from 2003 onwards has worked in the Financial Brokerage Group, where he deals in trading and sales trading for foreign institutions across MENA markets. Starting 2014, Rami has headed the Institutional Trading Desk and has played a vital role in all IPOs and placements that have taken place in recent years, from a trading and book management perspective. He holds a BA in Economics and Political Science from Cairo University.

Julian Bruce

Head of UAE Brokerage



Alaa ElDin Ali Mostafa

Head of Oman Brokerage

Alaa joined EFG Hermes in 1999 as an experienced Equity Dealer. He joined the UAE Brokerage start-up team in 2004 and was responsible for setting up the dealing desk there. With the firm’s expansion to Oman in 2008, Alaa was an obvious choice for the new Securities Brokerage venture. As Head of Brokerage there, he has been instrumental in the re-organization and integration of the Omani business; his 20+ years of experience have been put to good use.

Waleed Al-Nassan

CEO, EFG Hermes Jordan

Waleed Al-Nassan joined the firm in 2010 as CEO of EFG Hermes Jordan. Prior to that, he was CEO and board member of Awraq Investments, the investment arm of Cairo Amman Bank in Jordan. He has been in the investment and banking industry for around 18 years, during which he assumed senior positions in economic research, investment management and Islamic banking. In his capacity as investment manager/financial advisor, Mr. Al Nassan managed institutional clients’ (traditional and Islamic) investment portfolios, conducted financial and economic research and also advised on large corporate financial funding decisions. He also held the position of Assistant Professor of Finance at the University of Jordan. Mr. Al Nassan holds an MBA and PhD degrees in Finance from the University of Wales and attended the Senior Executive Management Program at Harvard Business School in 2002. He is also a licensed investment manager and advisor by Jordan Securities Commission.

Maged Ali Hassan

Head of Saudi Arabia Brokerage

Maged Ali Hassan joined EFG Hermes in 2007 as Head of the Saudi Arabia trading desk, a position that he held until 2010 when he became Head of Securities Brokerage for KSA. With over 19 years’ experience in the market, Maged began his career in 1997 as a trader at Flemings CIIC Securities Brokerage and worked his way up to head the trading desk prior to the CIIC merger with EFG Hermes. Maged has also served as acting CEO of EFG Hermes Saudi Arabia from December 2010 to July 2011.

Hatem Adnan

Co-Head of MENA Institutional Sales

Hatem Adnan joined Hermes Securities Brokerage in 2005 and is currently Managing Director and Co-Head of MENA Institutional Sales, focused on serving high-net-worth individuals and family offices across the region. Prior to joining EFG Hermes, Hatem worked in the finance departments of international development programmes in Egypt and Putzmeister in Germany. He graduated from the Modern Science & Arts University in Cairo, Egypt with a BA in economics and then completed his MBA at Edinburgh Business School with a specialization in finance. He also passed Level I Chartered Financial Analyst in 2010.

Mohamed Aly

Co-Head of MENA Institutional Sales

Mohamed Aly is the Co-Head of Sales at EFG Hermes. He holds a Bachelor in Economics from Cairo University where he graduated with honors. Mr. Aly joined EFG Hermes in 2005 and held numerous positions across the sales desks at the Hermes Securities Brokerage (HSB) and the Financial Brokerage Group (FBG).


Karim Baghdady


Karim Baghdady is the CEO of EFG Hermes USA, having held the post since September 1, 2016. Prior to heading EFG Hermes’ North American operations, Baghdady was Director of International Sales at CI Capital for five years, where he collaborated with several of the bank’s lines of business to spur more capital inflows from North American institutional clients into MENA markets. Between 2006 to the end of 2011, Baghdady created and launched the sales platform of Beltone Financial in the United States to introduce and distribute the company’s entire product lineup.
Having also been an equities trader at Mogavero, Lee & Co as a member of the New York Stock Exchange (NYSE) for ten years, Baghdady has developed a proven track-record of matching on-the-ground knowledge of MENA markets with investment strategies in the United States to create exclusive, high-profile transactions. Baghdady is a graduate of the Rutgers University, Newark, where he majored in Finance.

EFG Hermes Frontier:

Ali Khalpey

CEO, Frontier Markets

Alinawaaz (“Ali”) Khalpey joined EFG Hermes 2017 to lead the firm’s drive into non-MENA frontier markets, calling on more than 20 years of hands-on experience in frontier market equities with a particular focus on African and frontier Asia markets. Since joining EFG Hermes, Ali successfully led the Firm’s aggressive expansion across frontier markets – having launched new offices in UK, Pakistan, Kenya, Bangladesh, Nigeria and most recently, Vietnam.​
Apart from securing a top three ranking by market share in Pakistan, Kenya and Bangladesh, one of the key milestones achieved by EFG Hermes was the high-profile IPO of Frontier Micro Finance company, ASA International on the London stock exchange, a transaction led by Ali Khalpey and the frontier business. 
Following the aggressive geographic expansion into frontier markets, EFG Hermes was awarded two globally-renowned awards, Extel’s best frontier markets’ research provider and Best Investment Bank in Africa, an accolade awarded by African Business.
Ali’s personal track record includes building and leading businesses with dominant market share and mind share across Frontier Emerging Markets as well as leading numerous Equity Capital markets transactions in South Africa, Nigeria, Kenya, Pakistan and the United Kingdom.
Prior to joining EFG Hermes, Ali co-founded Exotix Africa LLP with Exotix Partners in late 2013, serving as CEO and global head of equities at the new venture, where he managed a team of 64 sales, research and execution professionals as well as country managers in London, New York, Dubai, Nairobi and Lagos. He was responsible for the rollout of the business across new geographies, including to frontier Asia. Under his leadership, Exotix established itself as one of the leading Frontier Market Investment Banks, with a geographic footprint larger than any of its competitors.
In 2002, Ali joined Investec Securities as Head of Institutional sales to rebuild the South African sales and research product. After successfully leading the team to a Number 1 sales ranking in the Extel Survey, he relocated to New York as Managing Director of Investec Securities USA, where he continued to expand the firm’s institutional client base.
In 2010, Ali joined Renaissance Capital in London, where he was Head of Pan-African Equities, leading a team of 52 across sales, execution and research in South Africa, Nigeria, Kenya, Zimbabwe, the United Kingdom and the USA. During a two-year period based in Johannesburg, he successfully led Renaissance Capital to market leading positions in South Africa, Nigeria and Kenya.
Ali began his career in 1996 as a London-based Africa analyst with BlackRock, rising to the rank of vice president and fund manager. Ali holds a BSc in economics (first class honours) from the London School of Economics and Political Science.

Sruti Patel

Head of Frontier Sales

Sruti Patel joined EFG Hermes in 2017 as Head of Frontier Equity Sales. Prior to EFG Hermes, Sruti was Head of Equity Sales at Exotix where she was responsible for building out the firm’s client franchise and platform, internationally based out of London and New York. Sruti previously worked on the Equity Sales team at Standard Bank, responsible for establishing an international client base for Sub-Saharan equities from London. Prior to that, she was a Research Analyst covering Sub-Saharan financials at Renaissance Capital. Sruti graduated from the London School of Economics and Political Science with a BSc in International Relations and an MSc in Politics of Empire and Post Imperialism.

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Last updated on May 15, 2019