Karim Aly Awad Saleh Salama is Group Chief Executive Officer, Chairman of the Executive Committee and a member of the board of directors of EFG Hermes Holding. Since assuming leadership of the firm in 2013, Karim has led EFG Hermes’ return to profitability by cutting unwarranted expenses, selling non-core assets and distributing excess cash to shareholders. Starting in 2014, Karim worked with top tier professionals across the company’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 private equity business; and continuing to provide the region’s highest-quality research offering. By the beginning of 2016, Karim also drove the company into a new strategic shift based on an extended geographic presence that aims at transforming EFG Hermes from a MENA house into a finance house that has reach across frontier markets. This strategy resulted in the firm expanding its footprint beyond its presence in the Arab world to new markets in Asia and Africa including Pakistan, Bangladesh, Kenya and Nigeria. He also initiated an increased emphasis on product diversification in the company’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 with a greenfield leasing business and has seen expanded with the acquisition of Egypt’s leading microfinance house and its first consumer finance fintech startup.
Karim is also currently a Non-Executive Director of Travelex Holdings Ltd. and Egyptian German Industrial Company.