EFG Hermes, an EFG Holding company and a leading investment bank in the MENA region, has announced that it has acquired a minority stake in Kenzi Wealth, a Danish digital wealth manager.
EFG Hermes also inked a memorandum of understanding with Kenzi Wealth, which aims to expand EFG Hermes’s offering. This partnership will provide clients with a more efficient and personal investment experience using innovative artificial intelligence (AI) tools. The Danish company is a renowned digital wealth manager that uses advanced AI-powered asset management technologies. Moreover, it offers investment risk analytics to help investors construct and rebalance their portfolios.
Customizable investment journeys
Therefore, this investment and partnership is a significant step in the investment bank’s digitalization vision. By combining the bank’s vast client network, award-winning research intelligence and Kenzi Wealth’s innovative AI tools, EFG Hermes will expand its offering to its clients. With AI capabilities, investors will have access to more efficient and unique ways to manage their portfolios. Moreover, they will have the ability to customize their investment journey in line with their specific needs.
For his part, 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.”
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Trading platform gets a revamp
Kenzi Wealth specializes in tailoring investment features to meet the unique needs of investors. Therefore, this partnership with the investment bank will allow it to introduce the latest technologies to its state-of-the-art trading platform, EFG Hermes ONE.
Looking forward, EFG Hermes ONE will become an end-to-end investment experience. From research and trading to portfolio management, services for investors will all be available on a single platform. This innovative solution will set a new standard in the industry.
“We are committed to empowering our clients with the tools they need to make informed investment decisions and achieve their financial goals,” added Ahmed Waly.
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