Arab Finance: EFG Holding is planning to increase its staff members in Saudi Arabia by 30% within 2024 to strengthen its position in the kingdom, the company’s CEO Karim Awad told Asharq Business.

Awad pointed out that the company aims to grow its market share in Saudi Arabia, whether in the brokerage or investment banking sectors.

Moreover, EFG Holding is expected to participate in up to six initial public offerings (IPOs) in Saudi Arabia this year, Awad added.

It is worthy to note that the investment bank is currently executing three to four IPO transactions in the UAE, one in Kuwait, and up to two in Egypt.

The company is also looking forward to increasing the number of staff members in the UAE, which accounts to 130 employees, Awad said, adding that the firm’s office in the UAE is the largest one abroad.

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