Beltone Financial Holding (BFH) a leading Egypt-based investment bank announced it has acquired a 60% stake of Auerbach Grayson & Company, LLC. A New York-based company specializing in providing global security brokerage services and financial research on developed frontier and emerging markets in over 120 countries to major funds and investment institutions.
Naguib Sawiris, the owner of BFH and the CEO of Orascom Telecom Media and Technology (OTMT), said “The Auerbach Grayson acquisition is a natural extension for our businesses and is the first step in our strategy to create a major Middle East-based global investment bank”
Dr. Sameh El-Torgoman, the CEO of BFH, said, “We are delighted to sign the agreement and to work with Auerbach Grayson in order to expand BFH business and providing its products in the US market, in addition to boosting our expansion plans in frontier and emerging markets”
David Grayson, co-founder and CEO of Auerbach Grayson, said, “I first visited Egypt in 1994, shortly after the government rewrote the capital market laws and started a series of privatizations. I immediately recognised the opportunity offered by investment climate in Egypt and within a year, Egypt became one of Auerbach Grayson’s largest and most important markets as the company took part in the country’s most notable capital markets deals.”
He explained that Auerbach Grayson’s success in Egyptian market encouraged the firm to expand into every country in the world. The firm has established its global network through partnerships with brokerage firms and local and regional banks in emerging, developed, and promising markets in the world with research coverage of listed companies in these areas.
The firm has recently expanded into US block trading, global block trading and global programme trading. Through its new partnership with BFH, the firm will expand into asset management and investment banking in many markets.
