EFG
Hermes, an EFG Holding Company, Takes a Significant Step in Shaping
the Future of Personalized, Fully Digitalized Investment Solutions
by Acquiring a Minority Stake in Danish Fintech, Kenzi Wealth
Cairo, May 21,2024
EFG Hermes, an EFG Holding company
and the leading investment bank in the MENA region, is pleased to
announce that it has acquired a minority stake in Kenzi Wealth.
Furthermore, EFG Hermes is delighted to announce the signing of a
memorandum of understanding with Kenzi Wealth, a renowned Danish
digital wealth manager that uses advanced AI-powered asset
management technologies and investment risk analytics to help
investors construct and rebalance their portfolios.
The new investment and partnership is
a significant milestone in EFG Hermes' digitalization vision that
promises to usher in a new era of investment opportunities for
clients. By combining EFG Hermes' vast client network,
award-winning research intelligence, and Kenzi Wealth's innovative
AI tools, EFG Hermes will be able to offer its clients a more
efficient and personalized investment experience. Through AI
capabilities, investors will be given a more advanced and unique
way to manage their portfolios and the ability to customize their
investment journey in accordance with their specific
needs.
Ahmed Waly, Global Head of Brokerage at EFG
Hermes, expressed his confidence in
the collaboration: "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 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."
Mohamed El-Masri, Founder and CEO of Kenzi
Wealth, expressed his enthusiasm for
the collaboration: "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
unrivaled research capabilities."
Kenzi Wealth specializes in tailoring
sophisticated investment features to meet the unique needs of
investors. The new venture will also allow EFG Hermes to introduce
advanced technologies to its state-of-the-art trading platform, EFG
Hermes ONE. EFG Hermes ONE's offering in the near future will
be an end-to-end investment experience from research and trading to
portfolio management on a single platform. This innovative
solution, powered by technology and unrivaled research
capabilities, sets 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," said Ahmed Waly.
"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 acquisition of a minority stake
in Kenzi Wealth represents EFG Hermes' significant commitment
to driving innovation in the fintech sector and democratizing
access to sophisticated investment solutions.
- ENDS
-
About EFG
Holding
EFG
Holding (EGX: HRHO.CA - LSE: EFGD)
is a trailblazing financial institution that boasts a remarkable
40-year legacy of success in nine countries spanning three
continents. Operating within three distinct verticals - the
Investment Bank (EFG
Hermes), Non-Bank Financial Institutions (NBFI)
(EFG Finance), and
Commercial Bank (aiBANK) -
the company provides a comprehensive range of groundbreaking
financial products and services tailored to meet the needs of a
diverse clientele, including individual clients and businesses of
all sizes.
EFG
Hermes, the leading investment bank
in the Middle East and North Africa (MENA), offers an extensive
array of financial services, encompassing advisory, asset
management, securities brokerage, research, and private equity. In
its domestic market, EFG Holding serves as a universal bank, with
EFG Finance emerging as the fastest-growing NBFI platform,
comprising Tanmeyah, a
leading provider of financial services in Egypt with a concerted
focus on the micro and small enterprise segments, EFG Corp-Solutions, which provides
leasing and factoring services, Valu, a versatile financial technology
powerhouse, PayTabs Egypt, a digital payment platform, as well as
Bedaya for mortgage finance
and Kaf for insurance.
Furthermore, the company delivers commercial banking solutions
through aiBANK, a leading
provider of integrated retail, corporate, and Islamic banking
products in Egypt.
Proudly present in: Egypt | United
Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Pakistan | UK |
Kenya | Nigeria |
Learn more about us at
www.efghldg.com
For further information, please
contact:
May
El Gammal
Group Chief Marketing &
Communications Officer of EFG Holding
melgammal@efghldg.com
Omar Salama
Senior Communications Manager of EFG
Holding
osalama@efghldg.com
The
EFG Holding Public Relations Team
PublicRelations@efghldg.com
Note on Forward-Looking
Statements
In
this press release, EFG Holding may make forward-looking
statements, including, for example, statements about management's
expectations, strategic objectives, growth opportunities, and
business prospects. These forward-looking statements are not
historical facts but instead represent only EFG Holding's belief
regarding future events, many of which, by their nature, are
inherently uncertain and are beyond management's control and
include, among others, financial market volatility; actions and
initiatives taken by current and potential competitors; general
economic conditions and the effect of
current, pending, and future legislation, regulations and
regulatory actions. Accordingly, the readers are cautioned not to
place undue reliance on forward-looking statements, which speak
only as of the date on which they are made.
