SICO Named Best Investment Bank, Best Asset Manager and Best Securities Brokerage in Bahrain

15/07/2020SICO BSC (c), a leading regional asset manager, broker, market maker and investment bank (licensed as a wholesale bank by the CBB), 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 US$ 7.4 billion in total assets under custody, was named Fund Administration Company of the Year at the 2020 Global Banking and Finance Awards.

These notable recognitions come as the latest in an ever-growing list of accolades received by SICO reaffirming its position as a leading provider for investment banking solutions offering innovative and advanced services.

“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.”

Leveraging a solid track record spanning more than two decades in the Bahraini and GCC markets, SICO has grown to become the financial partner of choice due to its established presence in the region and a comprehensive suite of services, tailored to meet institutional and retail clients needs.

For over two decades, SICO has been the investment house of choice in the Bahraini market for equity and debt capital market transactions, IPOs, M&A deals and unique corporate and private advisory services including real estate advisory, capital restructuring, listing and cross-listing, fund setup, business valuation, privatization, and underwriting.

The past year saw SICO take on roles in several key transactions in Bahrain and the GCC region. The bank completed a BD 62 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.

In 2019, SICO maintained its status as the highest ranked securities broker on the Bahrain Bourse for 21 consecutive years; 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. SICO’s Equities Brokerage is supported by a robust sell side Research team making it the only broker in Bahrain to offer its clients value added high quality investment ideas backed by fundamental research. Additionally, the division expanded its SICO LIVE online trading platform which now gives investors access to more markets and securities.

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