EFG Hermes HQ/Supplied
The collaboration will give EFG Hermes’ clients on-ground access and intelligence to trade on Hanoi stock exchange, Ho Chi Minh City Exchange and UPCOM.
Monday 20, May 2019 BY KUDAKWASHE MUZORIWA
EFG Hermes has partnered with Asia Commercial Bank Securities (ACBS) of Vietnam, the securities trading arm of Asia Commercial Bank (ACB) on the Hanoi Stock Exchange, making EFG Hermes the first frontier emerging markets (FEM) investment bank to establish an on-the-ground presence in Vietnam.
Ali Khalpey, the Chief Executive Officer of EFG Hermes Frontier, said, “This partnership will provide our clients access to the Hanoi Stock Exchange, Ho Chi Minh City Exchange and UPCOM using ACBS’ platform, while expanding our Vietnamese research offering, under our own brand name.”
In a statement, EFG Hermes said that the partnership will enable the lender to explore associated benefits in liquidity, deal flow and execution in one of the world’s best-performing markets.
“We are intensifying our involvement in Vietnam at a highly opportune moment, the country is seeing remarkable growth in exports, manufacturing and foreign investment, while domestic demand remains robust,” added Kato Mukuru, the Head of Frontier Markets Research at EFG Hermes.