Q & A

Interview with SICO Capital’s New CEO, Bassam Noor

Can you tell us a bit about your career in the region prior to joining SICO Capital?

I effectively started my career at the Investment Department at GIB Bahrain in 2004 where I witnessed first-hand the beginning of the sub-mortgage crisis. Afterward, I joined Arcapita Bank in Bahrain as part of the real estate team. In 2012, I joined Alrajhi United in Dubai to set up and manage the international portfolio of the family office. In 2016, I was very curious about the expected changes in Riyadh and Saudi as a whole, so I joined Derayah Financial in Riyadh at the end of 2016.

What are the main goals that you are looking to achieve in your first year as CEO?

With the assistance of my colleagues at SICO Capital, my initial focus is on building the foundation for accelerated growth and solidifying the Company’s vision and culture. I will also remain focused on strengthening the synergies within the Group to enhance our value proposition.

How do you plan to capitalize on the unique opportunities present in the Saudi Arabian market to grow SICO Capital’s presence?

The financial markets in Saudi are deeply driven by the economic and financial reforms carried out by the government. The equity markets are absorbing more companies via IPOs, the debt markets are getting bigger through new issuances and higher interest rates, and the real estate markets are going through significant changes, with an increase in population and businesses moving to Saudi and Riyadh in particular. Therefore, we will be focusing on equity, fixed income, real estate, and brokerage in Saudi Arabia.

What attracted you the most to the new role?

That’s simple. It was the people at SICO Capital and SICO Bank. It’s not easy to find a place that combines expertise and professionalism with a down-to-earth approach to work and colleagues.

What is your biggest professional challenge at the moment?

The rate of change is extremely rapid these days, especially in Saudi Arabia and, as an organization, we must change at the same speed or faster. The legendary CEO Jack Welch once said, “if the rate of change on the outside exceeds the rate of change on the inside, the end is near.”

What advice would you give to someone looking to start a career in finance?

Finance and investments are much bigger than what you are taught at the university. You need to be willing to learn non-stop. In fact, the real learning starts at the beginning of your career. In order to be good at anything, you must dedicate your time. Read finance and investment books, news, articles, and magazines. Follow such news on a daily basis. Work for someone who can lend value to you. Most importantly, do what you love. You will only spend a great amount of time on things that you love.

What are we most likely to find you doing outside the office?

Spending time with my family or reading books about history, science, and economics.