Regional and international bank and asset manager EFG-Hermes Qatar has been granted a licence by the Qatar Financial Centre Authority for investment banking and asset management business, adding to the expansion of EFG-Hermes's regional footprint.

The Qatar operation will be led by Ahmed Waly, who previously worked for EFG-Hermes as a senior member of the institutional sales team, before moving to Auerbach Grayson in New York and thereafter to the National Bank of Kuwait as head of brokerage.

He said: "Qatar has one of the world's fastest growing economies, based on its oil and gas wealth, and our presence there is integral to the continued growth of EFG-Hermes. I look forward to further building and contributing to our strength in the region."