SICO named Best Investment Bank in Bahrain

30/10/2017 05:49 AST

SICO BSC (c ), licensed by the Central Bank of Bahrain as a conventional wholesale bank, was named ‘Best Investment Bank in Bahrain’ at both the World Finance Banking Awards 2017 and the Global Finance 18th annual World’s Best Investment Banks 2017 Awards. During 2016, the Bank was lead manager for the Eskan Bank Realty Income Trust IPO; the 100 per cent share swap between Gulf Hotels Group and Bahrain Tourism Company; and BBK’s perpetual tier 1 convertible capital securities offering. The latter was recognised as one of the top three ‘Financial Institution Financing Deals of the Year’ at the Bonds, Loans & Sukuks Middle East Awards 2016. The recognitions are among several financial industry awards SICO has received recently, which covered investment banking, brokerage, asset management, and custody and administration.

Acknowledging the accolades, SICO Chief Executive Officer Najla Al Shirawi said: “We are honoured to be recognised as the best in our industry by these prestigious banking and finance awards. Such independent third-party recognition is testimony to the continued proactive and resilient performance by SICO’s core business lines in the face of ongoing economic uncertainty, market volatility and geo-political turmoil.”

SICO was also recognized as ‘Best Investment Management Firm – Bahrain’ at the World Finance Investment Management Awards 2017. With total assets under management exceeding US$ 1.1 billion, SICO is one of the largest boutique investment managers in the region outside Saudi Arabia that focuses on managing GCC equities , fixed income and Real Estate .

SICO’s Brokerage business received the award for the ‘Highest Traded Shares on the Bahrain Bourse’ for the fourth consecutive year at the Arab Federation of Exchanges (AFE) 2017 Summit; and was also named ‘Best Securities Brokerage Firm – Bahrain’ by the World Finance 2017 Brokerage Awards. In 2016, SICO maintained its status as the highest ranked securities broker on the Bahrain Bourse for the 18th consecutive year; and remained the leading fixed income broker for Bahraini Dinar-denominated Government bonds on the Bourse, accounting for over 95 per cent of all secondary market transactions.

In addition, the Bank’s custody and administration subsidiary – SICO Funds Services Company (SFS) – was named ‘GCC Best Custodian’ by the World Finance GCC Investment & Development Awards. Distinguished by its client-centric and technology-driven approach, and seamless and flexible service, SFS is currently responsible for total assets under custody in excess of US$ 5.7 billion.

In terms of individual recognition, Ms. Al Shirawi was included in the Forbes Middle East 100 Most Powerful Arab Businesswomen List 2017 for the third consecutive year; while Head of Asset Management Shakeel Sarwar was featured in the Mena Fund Manager Power 50 List for 2016.

Biz Bahrain