The EFG Hermes Board of Directors is composed of one executive member and 10 non-executive highly-renowned members and is headed by non-executive chairperson Mona Zulficar. These leading professionals work together to ensure that the Firm operates in compliance with the highest international standards of corporate governance.
Chairperson, EFG Hermes
Ms. Mona Zulficar has served as Non-Executive Chairperson of EFG Hermes since 2008. She is one of the founding partners of Zulficar & Partners Law Firm, a specialized law firm of 10 partners and more than 50 associates, which was established in June 2009 and grew into one of the best ranked law firms in Egypt. She was previously senior partner at Shalakany Law Firm and Chair of its Executive Committee for many years.
Ms. Zulficar is recognized in local and international legal circles as the precedents maker and one of Egypt’s most prominent corporate, banking and project finance attorneys. As an M&A and capital markets transactions specialist, she has led negotiations on some of Egypt’s and the Middle East’s largest and most complex successful transactions over the past three decades.
Ms. Zulficar has also played an instrumental role in modernizing and reforming economic and banking laws and regulations as a former member of the board of the Central Bank of Egypt and as a prominent member of national drafting committees. She is also a leading human rights activist recognized locally and internationally and has initiated several successful campaigns for new legislation including women’s rights, freedom of opinion and family courts. She served as VP of the Constitutional Committee of 50 and played a key role in drafting the 2014 Egyptian Constitution, and is currently member of the National Council for Human Rights. She has recently been elected President of the Egyptian Microfinance Federation and has been chairing several NGOs active in social development and microfinance to poor women. Internationally she served as elected member of the international Advisory Committee of the United Nations Human Rights Council for two terms ending 2011. She holds a Bachelor of Science in Economics and Political Science from Cairo University and an LLM from Mansoura University as well as an honorary doctorate degree in law from the University of Zurich.
Yasser El Mallawany
Vice Chairman of the Board, EFG Hermes
Mr. Yasser El Mallawany is the Non-Executive Vice Chairman of the EFG Hermes Board. Since becoming the Chief Executive Officer of the Firm in 2003, Mr. El Mallawany has played a key role in driving the consolidation of Egypt’s investment banking sector and facilitated the emergence of EFG Hermes as the leading Arab investment bank.
He began his career serving for 16 years at Commercial International Bank (CIB), formerly Chase National Bank, finally serving as the General Manager of the Corporate Banking Division. Mr. El Mallawany joined EFG Hermes during the Firm’s merger with CIIC. Mr. El Mallawany holds a Bachelor’s degree in Accounting from Cairo University.
Group CEO and Chairman of the Executive Committee
Mr. Karim Awad is Group Chief Executive Officer, Chairman of the Executive Committee, and a member of the board of EFG Hermes Holding. Since assuming leadership of the firm in 2013, Mr. Awad has led EFG Hermes’ return to profitability by cutting unwarranted expenses, selling non-core assets and distributing excess cash to shareholders. Starting 2014, Mr. Awad worked with top-tier professionals across the Firm’s different divisions in building a comprehensive regional advisory pipeline; extending its leadership as the Arab world’s largest securities brokerage; continuing to lead its peers in like-for-like rankings as an asset manager; successfully refocusing the private equity business; and continuing to provide the region’s highest-quality research offering.
By the beginning of 2016, Mr. Awad also drove the company into a new strategic shift based on an extended geographic presence that aims to transform EFG Hermes from a MENA house into a finance house that has reach across frontier markets. He also initiated an increased emphasis on product diversification in the Firm’s traditional business lines as well as through the creation of a parallel non-bank finance platform, EFG Hermes Finance — a platform that was formed in 2015 and currently encompasses leasing, microfinance, consumer finance, and factoring businesses.
Prior to assuming his current role, Mr. Awad was Chief Executive Officer of the Investment Banking platform with an overall responsibility for managing the Firm’s Investment Banking, Securities Brokerage, Research, Asset Management, and Private Equity divisions. Earlier, he was head of Investment Banking, having joined the division in 1998.
Mr. Awad has a long track record advising major corporations on equity offerings and M&A transactions and was instrumental in the development of EFG Hermes’s debt advisory practice. During his tenure in the Investment Banking Division, he led and closed transactions with an aggregate value of more than USD 40 billion.
CEO and senior MD of Ripplewood Advisors LLC
Mr. Collins is a Non-Executive Member of the EFG Hermes Board . He is the CEO and senior MD of Ripplewood Advisors LLC, the successor to Ripplewood Holdings LLC, which he founded in 1995. Ripplewood has successfully invested in and built companies globally, including in Europe, the Middle East and Asia. It has consistently delivered superior returns from investments totaling over $20 billion in enterprise value. Ripplewood played an instrumental role in transforming and strengthening several prominent financial institutions including: AS Citadele banka of Latvia, Commercial International Bank of Egypt and Shinsei Bank of Japan. Ripplewood has invested in a broad range of industries including: telecom, food, real estate, consumer electronics, chemicals and automotive. Several Ripplewood investments remain public companies.
Before founding Ripplewood, Mr. Collins worked for Cummins Engine Company, Lazard Frères & Company and Booz, Allen & Hamilton. Mr. Collins formerly served on a number of public company boards including RHJ International, Gogo Inc., Citigroup [after it accepted public funds], Commercial International Bank of Egypt, Shinsei Bank Ltd., Asbury Automotive, Advanced Auto and Rental Services Corp. Mr. Collins also served as an independent director at Weather Holdings, a large private emerging markets telecom operator that was sold to VimpelCom.
Mr. Collins is the Chairman of AS Citadele banka and is involved in several not-for-profit and public sector activities, including the Council on Foreign Relations, NEOM, McKinsey and Yale Divinity School Advisory Boards and the Trilateral Commission. He is Chairman of the Advisory Board for YSOM and a member of the Investment Advisory Committee to the New York State Common Retirement Fund.
Mr. Collins has a BA in Philosophy from DePauw University and a MBA in Public and Private Management from Yale University’s School of Management. Mr. Collins received an honorary Doctorate of Humane Letters from DePauw University in 2004 and has been an Adjunct Professor and Visiting Fellow at New York University. He has served as a Visiting Lecturer at the Yale Law School and is Senior Fellow and Director of the Henry P. Becton Fellowship Program at the Yale School of Management.
Independent Non-Executive Board Member of EFG Hermes Holding SAE and Credit Libanais SAL
Mr. Takis Arapoglou is a consultant with a career in international capital markets and corporate and investment banking in London and later in managing, restructuring, and advising publicly listed financial institutions and corporates.
His more recent assignments include: Managing Director and Global Head of the Banks and Securities Industry for Citigroup (1999-2004), based in London; Chairman and CEO of the National Bank of Greece Group (2004-2009); Chairman of the Hellenic Banks Association (2005-2009); and CEO of Commercial Banking at EFG-Hermes Holding SAE Group (2010-2013).
He currently holds the following non-executive board positions: Chairman of NYSE-listed Tsakos Energy Navigation (TEN) Ltd.; Chairman of Athens SE-listed Titan Cement SA; and Board Member of the Karachi-listed Bank Alfalah Ltd., representing the International Finance Corporation (IFC).
He is a member of the International Board of Advisors of Tufts University, Boston, Ma., a member of the Business Advisory Council for the International MBA program at the Athens University of Economics and Business, and a Trustee of the Athens Partnership, an NGO registered in the US for the support of charity projects for the city of Athens. He has degrees in Mathematics, Engineering and Management from Greek and British Universities.
Mr. Marwan Elaraby is based in Dubai where he serves as the Regional Managing Partner for Europe, the Middle East & Africa at Shearman & Sterling. His practice focuses on advising governments and private capital clients on a variety of corporate and capital markets transactions across several industries. Mr. Elaraby first joined Shearman & Sterling in New York in 1995 and became a partner in 2004. He previously served as Managing Director at Citadel Capital, one of the leading private equity firms in the Middle East and Africa. Marwan also served as Executive Director in EFG Hermes’ Investment Banking group, where he worked as an investment banker advising clients on numerous capital market and M&A transactions in the Middle East.
Marwan is a New York-qualified lawyer. He holds a Bachelor’s in Economics from the American University in Cairo and a Juris Doctor (J.D.) from Columbia University School of Law.
Partner of Ripplewood Advisors Limited
Mrs. Critchley is a Non-Executive Member of the EFG Hermes Board. She is a Partner of Ripplewood, and runs the day to day operations. Before joining Ripplewood, Mrs. Critchley was a Founding Partner of Resolution Operations which raised £660 million via a listed vehicle at the end of 2008, and went on to make three acquisitions in financial services (Friends Provident plc for US$2.7 billion, most of Axa’s UK life businesses for US$4 billion, and Bupa for US$0.3 billion).
This consolidation strategy was financed through a combination of debt and equity raisings, as well as structured vendor financing. Until forming Resolution Operations, Mrs. Critchley was a Managing Director at Goldman Sachs International where she ran the European FIG Financing business. Mrs. Critchley has structured, advised, or invested in transactions with more than fifty global financials and corporates. Mrs. Critchley has a First Class Honours Degree in Mathematics from University College London.
Senior Advisor, Natixis, Member of Natixis Executive Committee (since October 2017)
Mr. Jean Cheval joined Natixis in June 2009. Between 2009 and 2012, he was in charge of the Debt and Finance Department (Structured Finance) of Natixis CIB and of the European Area between 2011 and 2012. He was Head of Finance and Risk, member of Natixis’ Senior Management Committee, and Second Senior Manager of Natixis from September 2012 to October 2017.
He spent most of his career (1983-2001) at Credit Agricole lndosuez, where he was successively Chief Economist, Head of Strategic Planning and Budget, Head of Structured Financing, and Head of the Middle East and Asia before being appointed General Manager. He has been a Director of Al Bank Al Saudi Al Fransi (Saudi Arabia), WAFA Bank (Morocco), and Banque Libano-Française (Lebanon).
He has also been Head of Banque Audi France, Chairman of Banque Audi Switzerland (2001-2005), and Member of the Board of Audi-Saradar Bank (2002-2006). He previously worked for the Ministry of Industry and the French Planning Agency.
Jean Cheval has degrees from the Ecole Centrale de Paris (Engineering School) and the University of California, Berkeley.
Senior Country Manager, Natixis, Dubai
Simon Eedle joined Natixis as Senior Country Manager Dubai and Corporate and Investment Bank Regional Head Middle East in 2012. Since then he has overseen a development of the bank’s franchise in the region, focusing on Structured Finance, Global Markets, Trade and Islamic Finance, driven with a strong client focus. Simon has a career of more than 31 years in banking, 16 of which have been in the Middle East. He spent 22 years at Credit Agricole Corporate and Investment Bank, predominantly in senior global markets positions in Bahrain, Singapore, London and New York. He also set up their Global Islamic Banking franchise.
Simon Eedle began his career in 1977 as an Accountant at British Rail.
Mr. Simon Eedle resigned from his position as a board member representing DF EFG3 Limited (a subsidiary of Natixis S.A.) on 25/12/2018
Chairman of the National Bank of Pakistan
Mr. Zubyr Soomro is a Non-Executive Member of the EFG Hermes Board. He has recently moved on from his role as the Chairman of the Pakistan Microfinance Investment Company, a market-based entity majority owned by KfW and a DFID subsidiary and established to be the apex for the 45 microfinance lenders in Pakistan. His engagement with the microfinance sector extends over twenty years and has involved equity and debt investments, advisory work and board roles in the Pakistan Poverty Alleviation Fund, Acumen Pakistan and Grameen Foundation USA. He has also been on the Board of Directors of Pakistan’s central bank, the State Bank of Pakistan, and its Securities and Exchange Commission. In addition he is on the board of governors of the Layton Rahmatulla Benevolent Trust, a leading eye-care provider handling a million patients per year, and Aitchison College, an institution set up in the 19th century to groom leaders for the subcontinent.
Pakistan’s new government recently appointed him as the Chairman of the National Bank of Pakistan, which is one of the largest banks in the country. It is majority government owned and has a global network and over 1500 domestic branches. In addition he has been appointed to the board of Sarmaya Pakistan which is a sovereign fund set up in March 2019 to take on the oversight of the country’s 204 government owned corporate entities of which 33 are in the financial sector.
Mr. Soomro spent the majority of his career at Citibank in international corporate, investment, consumer, and private banking, with over 33 years at the bank including work across the Middle East, Turkey, Africa, the UK, and Pakistan. He retired in 2008 as Managing Director and Country Head for Pakistan. During his Citibank career, Mr Soomro took a three year leave of absence to become the Chairman and President of United Bank Ltd , an 1800 branch government owned institution with presence in ten countries. He was tasked with restructuring the bank for privatisation. In 2004, the central bank awarded him the Quaid e Azam Centenary Gold Medal for his work at United Bank Ltd and his contribution to financial sector reform as Chairman of the Pakistan Bank’s Association.
He held the position of Chairman of the Karachi Stock Exchange from 2010 to 2011, and was a member of the government’s Economic Advisory Council from 1997-2000 and again from 2013-2018. Additionally he has been President of the American Business Council, and President of the Overseas Chamber of Commerce and Industry, in addition to being Chairman of the Pakistan Bank’s Association.
He has a Bachelor of Science degree from the London School of Economics, a Master’s degree from the School of Oriental and African Studies, and graduated from Executive Education Programs in 2015 and 2017 on Financial Inclusion from Harvard Business School and Harvard Kennedy School.
Abdulla Khalil Al Mutawa
General Manager of the Private Office of His Excellency Sheikh Suroor Bin Mohammad Al Nahyan
Mr. Abdulla Khalil Al Mutawa is a Non-Executive Member of the EFG Hermes Board.
Mr. Abdulla Khalil Al Mutawa is a competent and dedicated investment professional with more than 35 years of experience and a comprehensive background in Finance and Administration. He holds a B.Sc. degree in Business Administration from the University of North Carolina, USA.
Mr. Abdulla Khalil Al Mutawa is the General Manager of the Private Office of H.E. Sheikh Suroor Bin Mohammad Al Nahyan. He has been a Member of the Board of Directors of ADCB since 1997.
ADCB Committees Memberships:
Member – Board Audit & Compliance Committee
Mr. Abdulla Khalil Al Mutawa has also been a Member of the Board of Directors of Bank Alfalah Limited, Pakistan, since 1997, in the following Committees:
Chairman Board Audit Committee (BAC)
Member, Board of Directors, Remuneration & Nomination Committee (BHR&NC)
Member, Board Information Technology Committee (BITC)
– Mr. Abdulla Khalil Al Mutawa is also the Chairman of Makhazen Investment Company, Abu Dhabi.
– Mr. Abdulla Al Mutawa is a non-executive Member of the EFG Hermes Board.
– Mr. Al Mutawa is a Board Member of Abu Dhabi National Hotels Company – Abu Dhabi
Khalid Mana Saeed Al Otaiba
Office Manager for His Excellency Dr. Mana Saeed Al Otaiba
Mr. Khalid Mana Saeed Al Otaiba is a Non-Executive Member of the EFG Hermes Board. Since 2005, he has been Office Manager for His Excellency Dr. Mana Saeed Al Otaiba, the personal advisor to His Highness the President of the UAE Sheikh Khalifa bin Zayed Al Nahyan. He also holds the post of Deputy Chairman of the Al Otaiba Group of Companies.
Mr. Al Otaiba leverages his over 17-year career spanning numerous industries to serve as the Director of Alfalah Insurance Company Limited, Pakistan, Chairman of Liwa International Investment Tourism and Royal Mirage Hotel & Resort Ltd, Morocco, and Director of Ghantout International and Bank Alfalah. Mr. Al Otaiba holds a Bachelor’s degree in International Economics from Suffolk University in Boston, Massachusetts.
Founder, Wafra Export
Mr. Ramsay Zaki is a Non-Executive Member of the EFG Hermes Board. In 2014, he founded produce export firm Wafra Export, which has during its time in operations built a state-of-the-art packing house and grown to a farm size of 300 acres.
Mr. Zaki was part of the EFG Hermes team for 18 years, starting as Head of Operations Brokerage in 1995 and ending his tenure as Chief Operating Officer. As COO, Mr. Zaki was responsible for managing operational matters, including compliance-related functions.
Mr. Zaki’s hefty contribution to EFG Hermes included growing the backbone of the Firm in all countries and lines of business, allowing it to grow rapidly while maintaining the highest degree of cooperate governance and ethics and weathering major economic and political events in the region. He was also part of the Firm’s Board through to 2013.
Prior to joining EFG Hermes, Mr. Zaki worked for five years at Commercial International Bank (CIB) where he headed the team responsible for extending credit to the Egyptian pharmaceutical industry.
During his time at CIB, he was able to more than double loans to the sector and capture a 70% market share of all private sector pharmaceutical companies operating in Egypt. He was also heavily involved in the merger negotiations between the two biggest private sector pharmaceutical companies in the country. He holds a Bachelor of Commerce from Cairo University.
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