Our Team

Karim Nehma

Head of Beltone Asset Management

He is a co-founder and former Managing Director of Act Financial, was a part of the executive team steering the company’s investments. Mr. Nehma was also responsible for the Asset Management division within Act Financial. Previously, Mr. Nehma was Head of Asset Management and the Chief Investment Officer at EFG-Hermes. Prior to that, Mr. Nehma managed the largest equity fund in the Middle East, ranked one of the best performing emerging markets funds for several consecutive years. Prior to that, Mr. Nehma worked on sell-side research at some of the region’s top 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.Show More

Omar Al Adel

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

joined Beltone Financial 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


Alaa Wally

Head of Business Development – Egypt and Kingdom of Saudi Arabia

joined Beltone Financial in 2005 responsible for the Egypt Post where he was seconded as the Chairman’s Consultant, in addition to provide training for Beltone’s managed funds, BAM Call Center, Corporate Sales as well as launching new products. Prior to that he was Senior Business Analyst in Commercial Strategy & Planning for MobiNil. Later he was Assistant Merchandising Manager at MAF Hypermarkets “ Carrefour Egypt”, working closely with the French management on launching Carrefour Egypt.
Mr. Wally holds a BSc. in Business Administration from City University , Washington, Belleview and is currently an MBA candidate from Maastricht School of Management, the Netherlands.
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Medhat Fathy

Head of Back Office

joined Beltone Financial in 2013. Prior to that Mr. Fathy was Head of Internal Audit at EFG – Hermes Asset Management for a period of 6 years, where his responsibilities included 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, supervising 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 Financial in October 2012. Her role entails directing investment policy, research and portfolio management strategies for the company. She also chairs the company’s Investment Committee. Prior to this, Mrs. Shafik was the MD and Chairman of Hermes Fund Management 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 performing 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

Mai Ghaly

Head of Regional and International Business Development,

Mrs. Ghaly joined Beltone Financial in January 2017. Her role involves catering to regional and international clients through introducing off-shore 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. During 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. Ghaly 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 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

Sherine Fadel

Head of Middle Office

joined Beltone Financial in June 2004. Prior to her current post, Ms. Fadel held the position of a portfolio manager responsible for cash management and short term fixed income products and later headed Beltone Asset Management operations. Before joining Beltone, Ms. Fadel was an assistant portfolio manager and was a member of the Egypt mandate at EFG-Hermes. Ms. Fadel holds a Masters degree in Business Administration with a major in Banking and Finance from the Arab Academy for Science, Technology & Maritime Transport.Show More

Sally Khattab

Senior compliance officer,

joined Beltone Financial in 2008.
Prior to this, Mrs. Khattab, was a capital market specialist in the compliance department at the Egyptian Financial Supervisory Authority over the period 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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