Egypt-Headquartered EFG Hermes Acquires A Minority Stake In Danish Fintech Kenzi Wealth
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EFG Hermes, a MENA investment bank that is a part of EFG Holding, has acquired a minority stake in Danish digital wealth manager Kenzi Wealth.
EFG Hermes and Kenzi Wealth have also signed a memorandum of understanding that will enable EFG Hermes to use Kenzi Wealth’s advanced artificial intelligence-powered asset management technologies and investment risk analytics to help its investors construct and rebalance their portfolios.
“This significant move marks EFG Hermes’ foray into the realm of personalized investment tools using state of the art technology, thereby expanding our portfolio of products and services,” says Ahmed Waly, Global Head of Brokerage at EFG Hermes. “The fusion of our acclaimed research capabilities with Kenzi Wealth’s cutting-edge AI-powered digital Investment tools is part of our shared vision to introduce a truly comprehensive and unparalleled end-to-end investment experience that sets a new standard in the industry.”
Source: EFG Hermes
The new venture will also allow EFG Hermes to introduce advanced technologies to its state-of-the-art trading platform, EFG Hermes ONE. EFG Hermes ONE’s offering in the near future will be an end-to-end investment experience from research and trading to portfolio management on a single platform.
