Our Team

Karim Nehma

Head of Beltone Asset Management


Prior to joining BFH in November 2015, Mr. Nehma was co-founder and Managing Director at Act Financial
(member of the consortium that acquired Beltone Financial Holding in 4Q15), where he was a member of the firm’s executive committee and head of the Asset Manage­ment division. In 2010 and until the end of 2011, Mr. Nehma was Head of Asset Management and Chief Investment Officer of the Asset Management department at EFG-Hermes. Over the period 2004 to 2010, Mr. Nehma managed the largest Equity fund in the Middle East, EFG Hermes MEDA Fund, which ranked one of the best performing emerging markets funds for several consecutive years. Prior to that, Mr. Nehma worked on sell-side research at several regional investment banks with extensive exposure to a multitude of sectors. Mr. Nehma graduated from the AUC with a bachelor’s degree in Accounting and has more than 18 years of experience in the MENA Equity markets.
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Medhat Fathy

Head of Back Office


Joined Beltone Financial in 2013. Before that Mr. Fathy was Head of Internal Audit at EFG – Hermes Asset Management for a period of 6 years, where his responsibilities included the audit of all data entries in the system, daily cash reports, reconciliation, guidelines breaches, and auditing of Funds’ financial statements. Prior to that, he held the position of Head of Operations, su¬pervising the settlement, administration and accounting desks. Mr. Fathy has taken courses in risk management, Fixed Income anti-money laundering and anti-fraud. Mr. Fathy holds a Bachelor of Commerce from Cairo University (1992).

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Dalia Shafik

Head of Equity at Beltone Asset Management


Mrs. Shafik joined Beltone Fi¬nancial Holding in October 2012.Her role entails directing investment policy, research and portfolio management strategies for the company. She also chairs the company’s Invest¬ment Committee. Prior to this, Mrs. Shafik was the MD and Chairman of Hermes Fund Man¬agement Company (the fund management arm of EFG-Hermes), managing peak assets of $1.5 billion in investments spanning MENA equities. She was the manager of the top per¬forming fund as ranked by the International Herald Tribune over 2005-07, the EFG-Hermes Egypt Fund. Prior to that, she was the MD of the Egyptian Portfolio Management Company (portfolio management arm of EFG-Hermes); principal manager for Egypt mandates along with several regional SWFs.Show More




Sally Khattab

Senior compliance officer,


Joined Beltone Financial in 2008. Prior to this, Mrs. Khattab wasa capital market specialist in the compliance department at the Egyptian Financial Supervisory Authority over the pe¬riod from 2006-2008. Mrs. Khattab graduated from the Faculty of Commerce English section with a major in accounting in 2005. She is a holder of the EFSA compliance license and holds an MBA from the Arab Academy for Science, Technology & Maritime Transport.

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Omar Al Adel

Managing Director of Misr Beltone Asset Management and Head of Fixed Income and Money Market desks


Joined Beltone Financial Holding in January 2011. Prior to joining Beltone Mr. Adel spent more than 15 years at Arab African International Bank (AAIB). Mr. Adel’s role in AAIB included managing the money market and primary dealer desks and finally heading the dealing room. He witnessed an increase in local currency deposits from EGP 600 million to EGP 22 billion. Mr. Adel also overlooked the launch of AAIB’s first money market fund. Mr. Adel holds a Bachelor degree in Finance and Banking from Kuwait University.Show More


Mai Ghaly

Head of Regional and International Business Development


Mrs. Ghaly joined Beltone Financial in January 2017. Her role involvescatering to regional and international clients through introducing offshore vehicles investing in the MENA region across various asset classes. Prior to that, Mrs. Ghaly spent 11 years at EFG Hermes asset management as Director and Head of Business Development, focusing on Egypt-centric mandates. Dur¬ing her years with EFG Hermes, she served as Managing Director for Egyptian Portfolio Management Group (EPMG) – the portfolio management arm of the firm, Director for the Egypt Fund – a USD denominated vehicle investing in the Egyptian market. Mrs. Gahly also worked as a buy-side analyst and assistant portfolio manager at EFG Hermes. Prior to that, she worked on sell-side research for Sigma Capital with exposure to a multitude of sectors. Mrs. Ghaly holds a Master’s degree in Business Administration with a major in Banking and Finance from Maastricht School of Management, the Netherlands.Show More