Middle Eastern investment bank EFG Hermes has acquired a minority stake in Danish fintech Kenzi Wealth, a company that utilizes AI-powered asset management technologies and investment risk analytics to support investors in constructing and rebalancing their portfolios.
EFG Hermes plans to integrate this technology into its service offerings across the Mena region, aiming to deliver a more efficient and personalized investment experience. Ahmed Waly, Global Head of Brokerage at EFG Hermes, stated, "This significant move marks EFG Hermes’s foray into the realm of personalized 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."
Additionally, the collaboration will enhance EFG Hermes’s trading platform, EFG Hermes ONE, by integrating research, trading, and portfolio management into a single interface. Waly emphasized the commitment to equipping clients with the necessary tools for informed investment decisions and achieving financial goals, adding, "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."
The terms of the transaction have not been disclosed.
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