The partnership signifies EFG Hermes’ strategy to widen its geographic footprint and identify new opportunities in the Southeast Asian nation of Vietnam, beyond its key presence in the Middle East and North Africa region.
Egypt-based financial services corporation EFG Hermes has announced its partnership with Asia Commercial Bank Securities (ACBS), the securities trading business of Ho Chi Minh City-based Asia Commercial Bank.
Through the agreement with ACBS, EFG Hermes’ clients will get access to the Vietnamese market, trading on its Hanoi Stock Exchange, Ho Chi Minh City Stock Exchange and the Unlisted Public Company Market (UPCoM)
Ali Khalpey, CEO of EFG Hermes Frontier, stated that this partnership indicated the strategy of completing its Frontier Emerging Markets (FEM) setup in Southeast Asia.
“While the past two years witnessed rapid expansion in African and Asian frontier markets with offices launched in Pakistan, Bangladesh, Nigeria and Kenya, we are now entering Southeast Asia to complete our FEM setup,” said Khalpey.
According to Khalpey, through its partnership with ACBS, EFG Hermes has become the first Frontier Emerging Markets (FEM) investment bank to establish an on-the-ground presence in Vietnam, an increasingly important destination for global investors given the size of the market and its liquidity.
Commenting on the new partnership, Trinh Thanh Can, CEO of ACBS said, “ACBS will work to ensure that this mutually beneficial partnership allows us to leverage EFG Hermes’ institutional heft, global network of clients and capability to create lasting value while furthering the institutionalisation of Vietnam’s capital markets.”
EFG Hermes, founded in Egypt in 1984, is a leading financial services corporation with access to emerging and frontier markets.
ACBS, meanwhile, is one of leading brokerage providers in Vietnam since 2000, providing a wide range of financial services including securities brokerage, investment banking, and asset management.
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