New Executive Takes the Helm for HFM's Gulf and Egyptian Business
Online broker HFM has installed Mohamed Elgayyar as Head of GCC and Egypt, a role that gives the firm a dedicated senior executive overseeing its commercial activities across both the Gulf Cooperation Council states and Egypt. Elgayyar made the announcement himself on LinkedIn, confirming he would be steering HFM's growth strategy in those markets.
The title deliberately carves out Egypt as a distinct market from the GCC cluster, which comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. In his post, Elgayyar expressed his intention to "drive growth, forge strong partnerships, and elevate our footprint across the MENA region to a new level." Notably, the announcement did not include specifics on planned hiring, product rollouts, or country-by-country priorities.
A Career Built Around MENA Sales and Client Relations
Elgayyar brings more than 17 years of hands-on experience in the forex and financial-markets space, with the bulk of that tenure spent in sales and customer-relations positions across the MENA corridor. His LinkedIn profile shows that, immediately before joining HFM, he served as Regional Sales Manager at GODO for roughly eight months. Prior to that, he held an eight-month stint as Country Manager for Egypt at FxPro.
Broader references in his public history and earlier appointment notices tie him to a series of regional roles in online trading and investment services, consistently focused on Egypt, North Africa, and the wider MENA landscape. For traders and institutional clients in those markets, the appointment signals that HFM is investing in a dedicated point of contact who understands both the Gulf and Egyptian commercial environments.
HFM's Widespread MENA Leadership Buildout
Elgayyar's hire is the latest in a string of senior appointments HFM has made across the region. In December 2025, the broker promoted Michalis Papacostas to Regional Head for MENA, placing him at the top of the area's operational hierarchy. Separately, HFM named Jean Nahas as Head of Category in the UAE, tasking him with leading the firm's newly licensed local entity and running its Dubai office — a mandate that encompasses business development, regulatory compliance, and regional brand presence.
Earlier still, HFM brought on board Ahmad Qutaishat as Senior Business Development Manager. Qutaishat arrives after holding sales positions at ATFX MENA, VT Markets, and Equiti Group, adding depth to the firm's business-development bench in the region.
Why Separate Coverage Matters for Traders
For brokers active in the Middle East, splitting Egypt from the GCC is a common structural choice. Although geographically adjacent, Egypt operates under a distinct commercial and regulatory framework that differs markedly from the Gulf states' environments. By assigning a single executive to both clusters while keeping the markets functionally separate in the title, HFM signals an intent to tailor its go-to-market approach to each jurisdiction's specific requirements.
As of the time of writing, HFM has not published additional operational targets or strategic milestones for the GCC-and-Egypt remit beyond the LinkedIn announcement. Traders and partners in the region will likely watch for concrete product or service updates as Elgayyar settles into the role.
