EFG Hermes acquires minority stake in Denmark’s Kenzi Wealth

Updated 5/21/2024 10:37:00 AM
EFG Hermes acquires minority stake in Denmark’s Kenzi Wealth

Arab Finance: EFG Hermes, the investment arm of EFG Holding, has acquired a minority stake in the Danish fintech wealth manager Kenzi Wealth, as per a statement on May 21st.

The two companies also signed a memorandum of understanding (MoU) to assist investors in constructing and rebalancing their portfolios through the use of Kenzi Wealth’s advanced AI-powered asset management technologies and investment risk analytics.

By integrating EFG Hermes' wide client base and award-winning research expertise with Kenzi Wealth’s cutting-edge artificial intelligence (AI) tools, EFG Hermes will be able to provide a more efficient and customized investment experience to its clients.

Furthermore, investors will be able to manage their portfolios in a more advanced way and will have the chance to tailor their investment experience to meet their individual needs by leveraging AI capabilities.

“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,” Ahmed Waly, Global Head of Brokerage at EFG Hermes, commented.

“This partnership will enable us to offer new investment tools to investors powered by technology and unrivaled research capabilities," Founder and CEO of Kenzi Wealth Mohamed El-Masri said.

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