Who We are
Pharos Holding is a fully-fledged investment bank headquartered in Cairo. We provide our clients with investment banking, asset management, securities brokerage, and bookkeeping services backed by bespoke research reports.
Pharos Holding for Financial Investments offers a wide range of financial services, including Investment Banking, Asset Management, Securities Brokerage, Online Trading, Research and Bookkeeping, all specializing in the Egyptian market.
Pharos Holding is chaired by late Dr. Mohamed Taymour, a veteran of the regional financial industry, and employs a team of exceptionally talented, highly educated and qualified professionals, with proven track records for excellence in local and regional markets.
The firm operates a business model built on the core values of teamwork, dedication and integrity. Employing personnel with a wealth of experience spanning local, regional and international markets enables the company to provide personalized and innovative solutions to clients, based on first-class research analysis consistently at the forefront of identifying shifts in market trends.
"Following a remarkable growth trajectory, today we provide a suite of global-quality financial services to individuals and institutions in Egypt and the region."
Now beginning our eleventh year of operations, our firm has grown from a provider of financial advisory and private equity services into a top-tier investment bank. Following a remarkable growth trajectory, today we provide a suite of global-quality financial services to individuals and institutions in Egypt and the region. We cemented our status early, closing deals worth EGP 2 billion within the first six months of trading and by the close of FY16 our trading turnover had reached EGP 12 billion. We are also proud to have a signed a major EGP 3 billion asset management contract.
That growth has been made possible in large-part by the dedication of our team and our adherence to one key value: Personal service. We hire experienced talent with deep roots in Egypt and the region, who share our values of integrity, innovation and teamwork. With this talented team, we seek success by viewing our services as an art, rather than a science, and we focus in all things on the needs and well-being of our clients.
This focus on service, and reliance on experience above formulaic investing guidelines, has seen us successfully grow our business, our client list and our product offering in spite of the string of very challenging years from which our key markets are only now emerging.
I do believe that we have emerged from the dark times that followed the global financial crisis and the post-Revolutionary years of tumult. The economy and security situation are showing strong signs of sustainable growth and the level of M&A and IPO activity in Egypt and regionally increased dramatically in the last couple of years, and is expected to continue moving in 2017.
We have particularly noticed strong demand in the field of advisory work in investment banking and advising in acquisitions and mergers; notably interest is coming from both local and foreign firms. We attribute this to the fundamental strength of the Egyptian business climate, and, of course, to what we see as a renaissance of Egypt’s political and economic environments.
There is a growing confidence in the current leadership. People feel that things are moving in the right direction. For the first time since the January 2011 Revolution, our country has an economic team in place that commands the respect of the business sector and foreign investors. The current regime earned that respect with positive moves such as beginning much-needed subsidy reforms and tackling long-overdue economic legislation.
In closing, I would like to say that I am increasingly optimistic about the future of my country, and, of course, the future of Pharos Holding and our esteemed clients.
Dr. Mohamed Taymour
Founder and Chairman
Teamwork, dedication, integrity
Pharos Holding’s strategy is built on the core values of teamwork, dedication and integrity. Employing talented professionals with a wealth of experience and regional knowhow allows us to provide personalized and innovative solutions to our clients and leads to a dynamic and successful approach to investment banking services.
We act as an agent for our clients, providing each with unbiased advice on all matters in which we are commissioned to assist. Our ultimate goal is to earn our clients’ trust by demonstrating our dedication to their success. To that end, we uphold the highest service standards, ensuring that the client’s interest comes first.
Likewise, we stress innovation in all our dealings. We consider this to be a particular strength of Pharos and feel that ability to provide a distinct offering is a key to our success.
From a provider of financial advisory services, Pharos has grown to become one of Egypt’s premier investment banks.
Originally founded in 2005 to provide financial advisory and private equity services, Pharos Holding has since evolved and expanded rapidly into a full-fledged investment bank, providing a spectrum of financial services to institutions and individuals in Egypt and the wider region.
Pharos Investment Banking cemented its status early on by closing deals worth EGP 8.86 bn in its first year of operation. Among its early achievements:
Deals worth EGP 8.86 bn in year one of operation
- 7.1 bn
The sell-side broker for Abraaj Capital’s purchase of Egyptian Fertilizer Co
- 760 mn
The buy-side advisor for the acquisition of Alexandria Sodium Carbonate
- 1 bn
In Assets under management within the first year of operations
Today our firm has grown into a top-tier investment bank
- Top 5
Our Securities Brokerage was among the top 5 ranked in Egypt in 1H17
- 40 bn
Investment banking transactions worth EGP 40 bn since inception
As of March 2017, our funds have outperformed the market by an average of 20%
To date, the company has advised on transactions worth EGP 40 bn in a wide range of sectors, including food & beverage, pharmaceuticals & healthcare, chemicals & fertilizers, consumer finance, telecommunications, education, banking, real estate and building materials.
Dr. Mohamed Taymour
Founder of Pharos Holding for Financial InvestmentsRead Biography
Dr. Mohamed Taymour founded Pharos Holding in 2005 to provide financial advisory and private equity services. He brought to the firm his long and varied experience from EFG Hermes, which he co-founded and Chaired from inception until he left the firm in 2005. Drawing on his more than 40 years of progressive professional experience in corporate banking, direct investments, private equity, M&A transactions, investment banking and market research, Dr. Taymour has led Pharos Holding to its current status as a full-fledged Egyptian investment bank.
In addition to his duties as Chairman of Pharos Holding, Dr. Taymour is also the Chairman of the Egyptian Capital Market Association. He serves an active member of the board of the Tourism Fund and the Egyptian Center for Economic Studies, and is a board member of Audi Bank and the Arab Investment Group.
Dr. Taymour holds a Doctorate degree in Systems Analysis from Dartmouth College and a Bachelor’s of Science in Industrial Engineering from Cairo University.
Elwy M. Taymour
Group Chairman and co-Chief Executive Officer of Pharos Holding for Financial InvestmentsRead Biography
Mr. Elwy M. Taymour is the founder of Pharos Holding for Financial Investments, to which he brings more than 25 years of progressive professional experience in financial markets. Before founding Pharos, Mr. Taymour gained extensive brokerage and investment banking experience at Merrill Lynch and EFG Hermes.
He also served as Vice President at Auerbach Grayson & Co, New York, where he was responsible for selling and marketing Arab markets to asset managers as well as the syndication desk for all GDR deals placed in the US market. In addition to his time at Auerbach Grayson, Mr. Taymour served as the Chief Financial Officer of LinkDotNet, responsible for all of the company’s financial, legal and operational matters.
He is the Founder and Managing Director of ArabFinance, a regional financial website offering online trading for the Egyptian market.
Mr. Taymour holds an MBA from Leonard N.Stern School of Business, New York University and a B.Sc in Industrial Engineering from the American University in Cairo.
Mr. Aladdin ELAFIFI
Managing Director and Co-CEO of Pharos Holding for Financial InvestmentsRead Biography
Mr. Aladdin ElAfifi joined Pharos Holding for Financial Investments in March 2018 as Managing Director and Co-Chief Executive Officer with more than 19 years of financial investments and direct investments experience.
Prior to joining Pharos, Mr. ElAfifi led the team managing Qalaa Holding’s investments in the Mining, Mining Industries and Waste Management sectors. He had also worked with the downstream energy team that was behind the negotiation of the framework agreement that culminated in the establishment of the Egyptian Refining Company (ERC), the USD 4.2 billion refinery soon to be operational, and the establishment of Taqaa Arabia, the distributor of gas and electricity.
Mr. ElAfifi worked in London as part of Golman Sachs’s UK Mergers and Acquisitions as well as the Industrials and Natural Resources teams. He started his career as an investment banker at EFG Hermes. He is a CFA (Chartered Financial Analyst) charter holder.
Mr. El-Afifi holds an MBA from the Wharton School of Business, with a concentration in Finance, Strategic and Entrepreneurial Management and a BA in Economics and Business Administration from the American University in Cairo.
Chief Operating Officer Pharos Holding for Financial InvestmentRead Biography
Mr. Angus Blair joined Pharos in January 2016 as the Chief Operating Office with more than 30 years of experience in investment banking, asset management, equities and research in developed and emerging markets.
Mr. Blair holds several awards for his expertise in the Middle East and North African (MENA) economies and capital markets, including being a "No 1 Institutional Investor Analyst" and "Global Emerging Markets Superstar" for Global Finance magazine.
He helped lead most of the major ECM transactions, which aided in the opening of the MENA region’s capital markets, including the first GDR in Egypt (CIB) and the first fund to allow foreign investors into Saudi Arabia (the USD 250 million SAIF Fund), among others. He continues to build upon his long-term links to businesses across the MENA region for Pharos to develop its long-term business expansion strategy.
Mr. Blair sits on the inter-governmental Egyptian British Business Council, advising on increasing trade relations and business between Egypt and the United Kingdom.
Essam Abdel Hafiez
Managing Director & Head of Pharos Securities BrokerageRead Biography
Mr. Essam Abdel Hafiez joined Pharos in 2007 and is now the Managing Director of Pharos Securities with 25 years of experience in the equities market.
He joined Pharos in 2007, Mr. Adbel Hafiez was the Head of Local Institutions and OTC Sales at ABN AMRO and Head of trading Delta Rasmala, during which he also supervised many of the stock market’s acquisition deals; he is a highly regarded member of Egypt’s and the Arab World’s brokerage community.
Mr. Abdel Hafiez’s efforts together with his colleagues helped transform Pharos into one of the top three brokerage houses in Egypt.
Mr. Essam holds a BA in Commerce from Ain Shams University in Cairo in 1992.
Radwa El Swaify
Head of Research – Pharos Securities BrokerageRead Biography
With 18 years of experience in investment advisory under her belt, Mrs. Radwa El Swaify joined Pharos Holding as Head of Research in 2016 after having previously held the position of Head of Regional Equity Research at Beltone Financial.
Prior to that, Mrs. El Swaify served as Financial Sector Specialist with The World Bank Group in Washington DC and was the Sector Head for Financial Institutions Research at Beltone.
Her vast experience in the industry includes work on several countries in the MENA and Latin American regions, with the conclusion of numerous corporate finance transactions in MENA during her time at HC Securities and Investment, where she began her career in Egypt.
Mrs. El Swaify holds an MBA and BA in Business Administration from The American University in Cairo.
Chief Executive Officer – Pharos Gulf LimitedRead Biography
Ismail Shoukry has more than 20 years of Regional Corporate and Investment Banking experience with International, Regional and Egyptian Investment Banks.
Ismail is currently the CEO of Pharos Gulf Limited, a recently incorporated UAE DIFC subsidiary of Pharos Holding for Financial Investments SAE. Pharos Gulf is licensed and regulated by the Dubai Financial Services Authority (DFSA) to provide Financial Advisory and Capital & Debt Raising services.
Prior to Pharos, Ismail worked at HSBC Middle East (Dubai) as MENA Head of Structured Finance and as Head of Corporate Banking, UAE Large Corporates. He also worked at Société Générale Corporate & Investment Banking (SGCIB Dubai) as Managing Director and Head of Corporate Coverage Middle East.
Ismail also worked in Dubai with NBK Capital and ABN AMRO.
Between 1992 and 2004, Ismail worked in Egypt with Swicorp Sigma Egypt and HC Securities & Investment. He also worked as an Economic Assistant to the Minister of State for International Cooperation working on the Egyptian Economic Reform Program.
Ismail has an extensive regional transaction track-record across multiple Corporate and Investment Banking products, including Corporate Finance, M&A, Debt Capital Markets, Project Finance, Equity Financing, Equity Capital Markets, Export Finance and Syndicated/Structured Lending. He also has an extensive network of clients that he has developed over his 20 years+ banking career in Egypt and the GCC across Ministries, Government Related Entities, Large Private Sector Corporates, Private Equity Firms and Banks.Ismail worked on numerous debt transactions raising more than USD20 billion in Syndicated Loans, Bonds, Project Finance and Structured Loans. He also worked on M&A and Equity related transactions worth in excess of USD8 billion.
Ismail holds an MSc in Finance from London Business School (LBS) and a BA in Economics from the American University in Cairo (AUC). He is fluent in Arabic, English and French.
Ahmed Yehia El Ashi
Managing Director of Fixed Income – Pharos Asset ManagementRead Biography
Mr. Ahmed Yehia El Ashi joined Pharos Asset Management in February 2018 as the Managing Director of Fixed Income with more than 17 years of experience in the financial services sector, specifically in asset management and commercial banking.
Before joining Pharos, Mr. El Ashi was the Head of Fixed Income desk in Rasmala Egypt, where he achieved top performance for the period ending 31 December 2017 and ensured successful portfolio and fund management with an emphasis on increasing assets under management.
Previously, Mr. El Ashi was the Head of Money Market Funds, Deputy Head of the Fixed Income desk, Portfolio Manager, Fixed Income and Money Market at Beltone Asset Management, Senior Corporate Trader at Arab Bank Treasury Department of Arab Bank plc, and Senior Relationship Manager at Global Asset Management & Private Banking Arab Bank. Mr. El Ashi also has experience of working within other banks, including Mashreq Bank, Dubai and Citibank.
Mr. El Ashi earned a Bachelor of Accounting & Finance at Modern Sciences and Arts University (MSA), and holds Masters of Science in Global Banking & Finance from the European Business School at Regents College, London.
Pharos adheres to the most stringent international best practices for our industryPharos Holding operates a business model built on the core values of teamwork, dedication and integrity. Employing personnel with a wealth of experience spanning local, regional and international markets ensures that our practices adhere to the highest standards.
Pharos management actively promotes a culture of teamwork and dedication. Our solid IT infrastructure and highly disciplined compliance team provide one reflection of the company’s unwavering commitment to maintaining a professional code of conduct and applying the highest of ethical standards of doing business.
- Teamwork is at the core of everything we do and should be encouraged and practiced.
- Upholding the highest service standards ensures that our interests are aligned; our success stems from serving all clients well.
- Innovation is our strength and providing a distinct offering is a key to our success.
- Integrity and honesty must never be compromised. We act as agent for our clients, providing unbiased advice on all matters in which we are commissioned to assist.
Company Structure & Shareholders’ Structure
Pharos Holding for Financial Investments is the majority owner of: Pharos Securities Brokerage, Pharos Asset Management and Pharos Investment Banking.
Pharos Holdings’ ownership is held by the Taymour family (80%) and Financial Holding International - private investment vehicle of Sheikh Abdulla Al-Rajhy - (20%).