EFG Hermes Appoints Dr. Khalid AlSweilem as Chairman of EFG Hermes KSA

Riyadh, February 10, 2025

EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA) region, is proud to announce the appointment of Dr. Khalid AlSweilem as the new Chairman of EFG Hermes KSA. Dr. AlSweilem’s leadership comes as part of EFG Hermes’ ongoing commitment to expanding its presence in the Kingdom and supporting the growth of its operations in line with Saudi Arabia’s Vision 2030.

Dr. AlSweilem is a distinguished leader in the global investment arena, recognized for his innovative approach to financial strategy and his extensive leadership experience. As a visiting scholar at the Center of Sustainable Development and Global Competition (SDGC) and the Stanford Long-Term Investing Initiative (SLTI), he has significantly influenced thought leadership in long-term investment strategies. His notable career at the Saudi Arabian Monetary Authority (SAMA) includes serving as the Director General of Investment, where he held key leadership roles since 1991.

With a PhD in Economics from the University of Colorado and a Post-Doctoral Fellowship from Harvard University, Dr. AlSweilem’s expertise extends into academia, having served as a fellow expert at Harvard Kennedy School. In addition to his current roles as Chief Global Sovereign Funds Advisor at Ninety One Asset Management and Chairman of Ninety One Capital Saudi Arabia, his leadership at EFG Hermes KSA is set to drive new growth and innovation for the firm.

Mohamed Ebeid, Co-CEO of EFG Hermes, an EFG Holding company, expressed his enthusiasm about the appointment, commenting, “We are excited to welcome Dr. Khalid AlSweilem as Chairman of EFG Hermes KSA. His extensive experience, paired with his leadership in the field of investment, will be instrumental as we continue to expand our presence in the Kingdom. His vision aligns with our strategic goals, and we are confident that EFG Hermes KSA will play a key role in contributing to Saudi Arabia’s economic development under his guidance.”

Saud Altassan, CEO of EFG Hermes KSA, added, “Dr. AlSweilem’s appointment comes at a critical time for EFG Hermes KSA as we continue to scale our operations and introduce innovative financial solutions tailored to the evolving needs of the Saudi market. His wealth of knowledge and leadership will undoubtedly enhance our ability to deliver world-class financial services across the Kingdom.”

Commenting on his new role, Dr. Khalid AlSweilem, Chairman of EFG Hermes KSA, stated, “I am thrilled to join EFG Hermes KSA at such a pivotal time for both the firm and the Kingdom. EFG Hermes’ commitment to Saudi Arabia and its role in driving the country’s financial landscape is outstanding, and I look forward to contributing to the firm’s growth and success. Together, we will foster financial innovation and support the Kingdom’s long-term objectives.”

– ENDS –

About EFG Holding

EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in eight countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.

EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a microfinance player, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, PayTabs Egypt, a digital payment platform, Bedaya for mortgage finance, Kaf for insurance, Fatura, a technology-backed B2B marketplace and EFG Finance SMEs which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt.

Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Pakistan | Kenya | Nigeria |