EFG Hermes, the leading investment bank in the MENA region, has acquired a minority stake in Kenzi Wealth, a Danish FinTech company specialising in AI-powered asset management technologies.
This strategic move aims to revolutionise the way EFG Hermes’ clients interact with their investments, according to bobsguide.
The acquisition aligns with EFG Hermes’ vision of digitalisation, promising new investment opportunities for clients.
By integrating Kenzi Wealth’s innovative AI tools with EFG Hermes’ extensive client network and award-winning research, the bank aims to offer a more efficient and personalised investment experience.
Investors will benefit from advanced portfolio management, customised to meet their specific needs.
As part of the deal, EFG Hermes plans to utilise Kenzi Wealth’s technology to enhance its trading platform, EFG Hermes ONE, by integrating research, trading, and portfolio management into a single platform.
This synergy aims to empower clients with the tools needed for informed investment decisions and to achieve their financial goals.
Ahmed Waly, global head of brokerage at EFG Hermes, expressed confidence in the partnership, “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.”
Kenzi Wealth’s founder and CEO, Mohamed El-Masri, added, ““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 unrivalled research capabilities.”
While the terms of the transaction were not disclosed, the partnership marks a significant step in EFG Hermes’ ambitious FinTech roadmap, aiming to develop a wider range of investment products and services in collaboration with Kenzi Wealth.
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