Fintech
EFG Hermes acquires a minority stake in Danish fintech Kenzi Wealth
Middle Eastern investment bank EFG Hermes has acquired a minority stake in Danish fintech Kenzi Wealth.
Kenzi Wealth uses AI-based wealth management technologies and investment risk analytics to help investors build and rebalance their portfolios.
EFG Hermes says it will push the technology to its customer base across the Mena region. provide customers with a more efficient and personalized investment experience.
Ahmed Waly, Global Head of Brokerage at EFG Hermes, comments: “This significant move marks EFG Hermes’ foray into the realm of personalized investment instruments using cutting-edge technologies, thus broadening our portfolio of products and services. The merger of our acclaimed research capabilities with Kenzi Wealth’s cutting-edge, AI-powered digital investment tools are part of our shared vision to introduce a truly complete and unprecedented end-to-end investing experience that sets a new standard in the field”.
As part of the deal, EFG Hermes will also use Kenzi Wealth’s technology to power its trading platform, EFG Hermes ONE, with the aim of combining research, trading and portfolio management on a single platform.
“We are committed to providing our clients with the tools they need to make informed investment decisions and achieve their financial goals,” says Ahmed Waly. “This is just the beginning. There are numerous opportunities for further synergies based on EFG Hermes’ ambitious fintech roadmap, which aims to develop a broader range of investment products and services in collaboration with Kenzi Wealth.”
Terms of the transaction were not disclosed.