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Brokerage firm HFM has officially named Mohamed Elgayyar as its new Head of GCC and Egypt, expanding its executive management structure across the Middle East and North Africa (MENA) region. Elgayyar announced the move on LinkedIn, stating his goal to drive growth, build strategic partnerships, and enhance HFM's presence across Gulf Cooperation Council member states and Egypt. The role structurally separates Egypt from the GCC block to account for the distinct commercial and regulatory environments of both markets.
Elgayyar brings over 17 years of specialized sales and institutional relations experience in the regional online trading and forex industry. Prior to joining HFM, he held key leadership positions, including Regional Sales Manager at GODO and Country Manager for Egypt at FxPro, alongside previous roles focused on North Africa and Middle Eastern markets. His background gives HFM seasoned sales capabilities tailored to high-growth MENA markets.
This executive hire is part of a broader expansion strategy by HFM in the region following several senior appointments, including Michalis Papacostas as Regional Head for MENA and Jean Nahas to lead its licensed UAE operations in Dubai. The aggressive talent acquisition emphasizes intense competition among retail brokerages attempting to capture market share and navigate localized regulatory landscapes in the Middle East.
