European fellows finish with one term of respect (7)

I believe the answer is:

effendi

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'term of respect' is the definition.
Although both the answer and definition are singular nouns, I cannot see how they can define each other.

'european fellows finish with one' is the wordplay.
'european' becomes 'E' (abbreviation e.g. EU).
'fellows' becomes 'ff' (an abbreviation for fellow written twice).
'finish' becomes 'end' (synonyms).
'with' means one lot of letters go next to another.
'one' becomes 'I' (Roman numeral).
'e'+'ff'+'end'+'i'='EFFENDI'

Can you help me to learn more?

(Other definitions for effendi that I've seen before include "Turkish official" , "foreigner of standing" , "Important fellow" , "Former Turkish title" , "Respected Arab" .)

I've seen this clue in The Daily Express.

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