Securities and Investment Company (SICO) BSC, a leading regional asset manager, broker, market maker, and investment bank based in Bahrain, has launched SICO Capital, a full-fledged capital markets services provider based in Saudi Arabia, as its newly rebranded subsidiary.
SICO Capital is the new brand for Muscat Capital, a wholly-owned subsidiary of Bank Muscat which has been operating in Saudi Arabia since 2009. The launch of the new identity follows the completion of SICO’s acquisition of a majority stake from Bank Muscat, a leading financial institution based in the Sultanate of Oman, in March 2021.
Saudi Arabia’s national development vision, Vision 2030, has developed rapidly to become one of the most important markets for both regional and global investors. SICO Capital, being the region’s largest capital market, is ideally positioned to provide investors with profitable opportunities in a variety of sectors.
Shaikh Abdulla Bin Khalifa Al Khalifa Board Chairman-SICO
“SICO is renowned in the region for offering premium services with a well-established track record spanning two decades. With the launch of SICO Capital’s operations in Saudi Arabia, we are starting a new chapter in our growth strategy which will allow us to enhance our presence in the Kingdom by offering a wider suite of products and services that cater to the aspirational and growing client base.”
SICO Capital has also appointed its new board of directors and management team, whose vision and leadership will help the company achieve its strategic goals.
Mr. Hassan Al Shuaiby, chairman of the Board at SICO Capital, said, “We are glad to complete the transition process following the change in our shareholding structure. SICO Capital stands well-positioned to leverage its capabilities in order to offer new and existing clients premium financial services across the Kingdom of Saudi Arabia.”
SICO Capital will be a full-service investment banking firm based in Riyadh, Saudi Arabia, providing individual, institutional, and corporate clients with a wide range of financial services. With multiple licenses by the Saudi Capital Markets Authority including asset management, investment banking, and brokerage, the company offers SICO an ideal platform to offer a diversified suite of services to a wider client base in Saudi Arabia.
