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SICO, a leading GCC asset manager, investment bank, and brokerage with direct presence in Bahrain, KSA, and UAE, announced the initiation of the merger of its subsidiary, SICO Funds Services (SFS), into SICO after receiving the required regulatory approvals.
This strategic move will streamline the group’s operations and enable it to offer integrated securities services across the region with added value for clients, such as end-to-end solutions, service excellence, and assured quality.
Once the merger is finalized, SICO will provide clients with custody for all asset classes and fund administration for investment portfolios and funds, in addition to providing supporting services such as middle and back-office functions and operations services. SICO has assets under custody worth USD 9.4 billion, covering various asset classes such as listed and private securities, fixed income instruments, money market instruments, and real estate.
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About SICO
SICO is a leading regional asset manager, broker, and investment bank with USD 6.2 bn in assets under management (AUM). Today, SICO operates under a wholesale banking licence from the Central Bank of Bahrain and also oversees three wholly owned subsidiaries: an Abu Dhabi-based brokerage firm, SICO Invest, a specialised regional custody house, SICO Fund Services Company (SFS), and a full-fledged capital markets services firm, SICO Capital, based in Saudi Arabia. Headquartered in the Kingdom of Bahrain with a growing regional and international presence, SICO has a well-established track record as a trusted regional bank offering a comprehensive suite of financial solutions, including asset management, brokerage, investment banking, and market making, backed by a robust and experienced research team that provides regional insight and analysis of more than 90 percent of the region’s major equities. Since inception in 1995, SICO has consistently outperformed the market and developed a solid base of institutional clients. Going forward, the bank’s continued growth will be guided by its commitments to strong corporate governance and developing trusting relationships with its clients. The bank will also continue to invest in its information technology capabilities and the human capital of its 100 exceptional employees.
Media Contact:
Ms. Nadeen Oweis
Head of Corporate Communications, SICO
Email: noweis@sicobank.com