Tuesday 19 January 2021

Najla M Al Shirawi

Sico wins top industry awards from global entities

MANAMA, July 16, 2020

Bahrain-based Sico, a leading regional asset manager, broker, market maker and investment bank, has received a number of prestigious industry awards from Euromoney, Global Finance, and Global Banking and Finance.

 Among the accolades received were:

•    Best Investment Bank in Bahrain,2020 Euromoney
•    Best Investment Bank in Bahrain, 2020 Global Finance Awards;
•    Best Investment Bank in Bahrain, 2020 Global Banking and Finance Awards;
•    Asset Management Company of the Year, 2020 Global Banking and Finance Awards;
•    Best Securities Brokerage in Bahrain, 2020 Global Banking and Finance Awards.

In addition, Sico Funds Services Company (SFS), the Bank’s custody and administration subsidiary which is currently responsible for more than $7.4 billion in total assets under custody, was named Fund Administration Company of the Year at the 2020 Global Banking and Finance Awards.

 “We are extremely proud to have received these awards, which stand as a testament to the remarkable efforts and dedication of our exceptionally talented team,” said Najla Al Shirawi, CEO of Sico. “It is this collaborative effort and our commitment to excellence that has resulted in us cementing our position as a leading regional financial institution, with clients relying on us to seamlessly execute large, high-profile transactions on their behalf.”

Commenting on the Best Investment Bank in Bahrain, 2020 Euromoney Award, Louise Bowman, Global Editor of Euromoney said: “Euromoney has named Sico ‘Best Investment Bank in Bahrain’ for the second year in a row. The Bank truly stands out as a notable player in cross-border transactions and in the fourth quarter of 2019 was appointed by Kuwait Finance House to advise on the cross listing of its shares on the Bahrain Bourse.

“Earlier this year, the investment banking team, led by 18-year financial sector veteran Wissam Haddad, was again mandated by KFH to advise on and manage the execution of its voluntary offer to acquire up to 100% of Ahli United Bank, although Covid-19 has meant this deal has been pushed back to December 2020.”

The past year saw Sico take on roles in several key transactions in Bahrain and the GCC region. The bank completed a BD62 million acquisition in the financial sector and provided receiving and allotment agency services. Sico was also mandated to arrange up to BD 12 million in debt financing, as well as ongoing valuation, capital adequacy and M&A advisory in addition to fund advisory services.

Sico Asset Management offers unique investment plays across the equity, fixed income and real estate asset classes in the GCC and Mena regions. In 2019, Sico’s signature funds, the Khaleej Equity Fund and the Sico Kingdom Equity Fund, outperform their benchmark indices, in the face of a challenging environment.

The Khaleej Equity Fund outperformed its benchmark index generating a gross return of 26.2% in 2019 vs. an index return of 12.5% which positioned it to close the year as the top-performing GCC and MENA fund for the second consecutive year.

Meanwhile the Sico Kingdom Equity Fund reported a gross return of 24.2% for the year while the index gained 11.9%. Additionally, the bank obtained a new license from the Saudi CMA to provide asset management services in Saudi Arabia. – TradeArabia News Service


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