Egypt’s EFG Hermes Acquires Minority Stake in AI-powered Fintech Kenzi Wealth

– EFG Hermes, a prominent investment bank in the MENA region, has acquired a minority stake in Danish fintech firm Kenzi Wealth, which specializes in AI-powered asset management and investment risk analytics.

– The partnership aims to enhance EFG Hermes’ digitalisation strategy by integrating Kenzi Wealth’s advanced technologies with EFG Hermes’ extensive client network and research capabilities, offering more efficient and personalized investment experiences.

– This collaboration will also bolster EFG Hermes’ trading platform, EFG Hermes ONE, providing an end-to-end investment experience from research and trading to portfolio management, aligning with their commitment to innovative fintech solutions.

EFG Hermes, an investment bank in the MENA region and an EFG Holding company, has acquired a minority stake in Kenzi Wealth, a Danish digital wealth manager.

The two companies have also signed a memorandum of understanding, marking a milestone in EFG Hermes’ digitalisation strategy.

This partnership aligns with EFG Hermes’ vision to offer clients more efficient and personalised investment experiences by leveraging their vast client network and award-winning research intelligence alongside Kenzi Wealth’s innovative AI tools.

Kenzi Wealth uses advanced AI-powered asset management technologies and investment risk analytics to help investors construct and rebalance their portfolios.

Ahmed Waly, Global Head of Brokerage at EFG Hermes, expressed confidence in the collaboration: “We are delighted to join forces with Kenzi Wealth, a company that shares our commitment to innovation and excellence.

“This significant move marks EFG Hermes’s foray into the realm of personalised investment tools using state-of-the-art technology, thereby expanding our portfolio of products and services.

“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.”

Mohamed El-Masri, Founder and CEO of Kenzi Wealth, echoed this enthusiasm: “We are thrilled to join forces with EFG Hermes to bring sophisticated investment features to clients, including advanced investment risk analytics, investment selection, portfolio construction, and rebalancing.

“This partnership will enable us to offer new investment tools to investors powered by technology and unrivaled research capabilities.”

Kenzi Wealth specialises in tailoring sophisticated investment features to meet the unique needs of investors. This venture will also enhance EFG Hermes’ trading platform, EFG Hermes ONE, providing an end-to-end investment experience from research and trading to portfolio management on a single platform.

“We are committed to empowering our clients with the tools they need to make informed investment decisions and achieve their financial goals,” said Ahmed Waly. “This is just the beginning. There are numerous opportunities for additional synergies based on EFG Hermes’ ambitious fintech roadmap, which aims to develop a wider range of investment products and services in collaboration with Kenzi Wealth.”