Manama, Kingdom of Bahrain –3  April 2017

Securities & Investment Company (SICO), licensed by the Central Bank of Bahrain (CBB) as a conventional wholesale bank, announced today the appointment of Mr. Sreenivasan Konnat as General Manager of SICO Funds Services Company (SFS), following confirmation by the CBB.

Established in 2004 as a wholly-owned subsidiary of SICO, the Company has developed into a leading regional provider of sophisticated and integrated custody and fund administration solutions. SFS was named ‘GCC Best Custodian’ at the World Finance GCC Investment & Development Awards 2016.

Ms. Najla Al Shirawi, Chairwoman of SFS and Chief Executive officer of SICO, congratulated Sreeni Konnat on his appointment. “Over the past 10 years, he has developed an excellent understanding of the Company’s diverse custody and fund administration activities; and established close working relationships with clients, business partners and regulatory authorities. As Acting General Manager since September 2015, Sreeni has led the SFS team in expanding the Company’s client base through winning new regional mandates; and continuing to grow assets under custody, which stood at US$ 5.0 billion at the end of 2016.”

Mr. Sreeni Konnat has over 26 years’ professional experience covering fund administration, financial control and accounting, and back office operations. Joining SICO in 1998 as a member of the Financial Control department, he transferred to SFS in 2007 as Head of Asset Administration, and was promoted to Acting General Manager in 2015.

 “This appointment is a great honour, and I value the trust placed in me to continue leading such a highly-experienced team,” Sreeni Konnat commented. “SFS is firmly committed to providing clients with a responsive, professional and seamless service, and solutions that meet their specific requirements.”

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About Securities & Investment Company (SICO) 
Headquartered in the Kingdom of Bahrain, and with a growing regional presence and international footprint, Securities & Investment Company (SICO) is one of the premier wholesale banks in the GCC region. SICO provides a select range of investment banking solutions – brokerage, market making, treasury, asset management, corporate finance, and custody and fund administration – which are underpinned by an independent, value-added research capability.

Established in 1995, and listed on the Bahrain Bourse in 2003 as a closed company, SICO operates under a conventional wholesale banking licence from the Central Bank of Bahrain. The Bank has two wholly-owned subsidiaries: SICO Fund Services Company (SFS) – a specialised regional custody house; and SICO UAE – an Abu Dhabi-based brokerage firm licensed by the Emirates Securities & Commodities Agency.

Media Contact:
Ms. Nadeen Oweis
Head of Corporate Communications
Securities & Investment Company (SICO)
Direct Tel: (+973) 1751 5017
Email: nadeen.oweis@sicobahrain.com

© Press Release 2017