MENA-based investment bank EFG Hermes has acquired a minority stake in Kenzi Wealth, and signed a memorandum of understanding with the Danish digital wealth manager to deploy its AI tools and capabilities to help investors construct and rebalance their portfolios.

The bank did not disclose the size or value of the investment in a statement issued on Tuesday.  

(Writing by Brinda Darasha; editing by Bindu Rai)