Aladdin ElAfifi to lead EFG Hermes’ Non-Bank Financial Institutions platform as new CEO

Aladdin ElAfifi to lead EFG Hermes’ Non-Bank Financial Institutions platform as new CEO

Cairo: EFG Hermes Holding, an impact driven universal bank in Egypt with the leading investment bank franchise in Frontier Emerging Markets (FEM), announced today the appointment of Aladdin ElAfifi as the new CEO of its NBFI platform effective August 1st, 2022. With his appointment, ElAfifi will assume the overall responsibility in leading the current EFG Hermes NBFI portfolio with the exception of the Firm’s Buy-Now, Pay-Later (BNPL) fintech platform valU, where he will become a non-executive board member representing the majority shareholder. ElAfifi will also be responsible for growing the NBFI operations through the addition of new services whether organically or through acquisitions.

Holding an MBA degree from the Wharton School of the University of Pennsylvania, Aladdin boasts a track record of over 23 years with blue chip employers including Goldman Sachs, Qalaa Holdings, and an earlier stint with EFG Hermes’s investment banking team. His last post was Managing Director and Co-CEO for Pharos Holding for Financial Investments, where he was instrumental in the creation of Egypt’s first nano-lending fintech start-up Kashat. ElAfifi also recently co-founded the Cairo-based real estate investment management and advisory business, 46 Group.

EFG Hermes firmly believes in the growth potential the NBFI vertical holds. Having started with