EFG-Hermes has been placed first in the brokerage rankings conducted by Dubai Financial Market (DFM) for December 2006, and second in the Q406 ranking. This achievement comes just over two years after EFG-Hermes launched its brokerage operations in the fiercely competitive UAE market.
The rankings, which are measured by value traded, encompass 97 brokerage firms on the DFM. EFG-Hermes’ top placement cements its drive to set standards in the industry with a quality research product and fundamentally well-versed brokers. The leading regional investment bank is also focusing on product development in order to offer greater breadth to clients, as well as contribute to the diversification of the market place.
“The brokerage industry in the UAE and indeed the region is an increasingly competitive environment in which service and operational capabilities are key,” commented Seif Fikry, head of UAE brokerage, EFG-Hermes. “Our rankings is an endorsement of the services and strategy we have adopted in the UAE over the last two years and it is something we are keen to build on in the coming year.”
The UAE is witnessing increased institutional participation in the equity markets – an area which demands and recognizes quality brokerage products. “In 2007 brokers need to be addressing the fundamental performance of stocks, as well as technical dimensions,” concluded Fikry. “A more rigorous approach in this respect will help the investor base in the market mature and adopt a more strategic approach to portfolio management.”
