Big Egyptian investment firms try to reassure staff

While the ongoing conflicts in Egypt are unlikely to directly impact many working in the GCC financial sector, it's easy to forget that one of the region's more prominent investment banks and private equity houses hail from the country.

Not surprisingly, they've been eager to reassure staff members that all is OK.

EFG Hermes, has issued a (very) brief statement saying that its Egypt office remains closed, but that its other Middle Eastern businesses - across Saudi, the UAE, Oman and Kuwait - are operating as normal.

"Once the Egyptian Stock Exchange reopens and internet connectivity services is restored operations will commence again regularly from Egypt Head Office," it said.

Citadel Capital, the Cairo-based private equity firm that was building its GCC headcount throughout 2009, has opted for a slightly more human touch with its reassurances.

None of its staff in Egypt or any of the other 13 nations in which it has an investment footprint have come to any harm during the clashes, it says. It even took the opportunity to emit a little bullish sentiment about the region's growth prospects.

"Citadel Capital believes that this difficult period will result in a more stable and faster-growing Egypt and region...the opportunities are underpinned by a large, young and increasingly talented workforce," it said.