Regional investment bank EFG Hermes named Takis Arapoglou, former group chairman and CEO of the National Bank of Greece, as the firm’s new CEO of commercial banking.
Arapoglou, formerly global banks industry head for Citigroup, will lead EFG Hermes’ strategic initiative to “develop into a universal bank by creating a leading commercial banking franchise in the Arab world and sub-Saharan Africa.”
The firm said it is eyeing acquisitions in “key geographies, in view of the group’s strong capital and cash position.”
Currently the firm offers investment banking, brokerage, asset management, private equity and research.
Earlier this year, EFG Hermes acquired a majority stake in Lebanese commercial bank Credit Libanais SA, which has branches in Bahrain, Cyprus and Senegal.
