SICO Capital Company Profile

Background

Overview

SICO Capital is a full-service financial services firm headquartered in Riyadh, Saudi Arabia. Established in 2009 as Muscat Capital, the company rebranded to SICO Capital following SICO BSC (c)'s acquisition of a majority stake from Bank Muscat in March 2021. With a paid-up capital of SAR 60 million, SICO Capital is licensed by the Saudi Capital Market Authority (CMA) under Authorization No. (37-08096). The firm offers a comprehensive range of services, including asset management, brokerage, investment banking, and custody services, catering to individual, institutional, and corporate clients.

Mission and Vision

Mission: To provide innovative and reliable financial services that add to the wealth of clients, shareholders, employees, and the community.

Vision: To be a leading investment bank in Saudi Arabia and the partner of choice for sophisticated financial solutions that create growth and opportunities for the economies and people in the Kingdom and the region.

Industry Significance

SICO Capital plays a pivotal role in Saudi Arabia's financial sector, leveraging its comprehensive licenses to offer a full spectrum of capital market activities. The firm's strategic position is enhanced by its affiliation with SICO BSC (c), a leading regional asset manager, broker, and investment bank with over USD 8 billion in assets under management.

Key Strategic Focus

Core Objectives

SICO Capital aims to deliver a one-stop shop for investment services, focusing on:

Asset management

Investment banking

Brokerage services

Custody services

Areas of Specialization

The firm specializes in:

Dealing (as principal and agent)

Asset management

Advisory and arranging

Underwriting

Custody services

Key Technologies Utilized

SICO Capital employs state-of-the-art trading platforms and technology solutions to provide seamless execution and reliable services to its clients.

Primary Markets Targeted

The firm primarily targets the Saudi Arabian market, leveraging its comprehensive licenses to offer a full spectrum of capital market activities.

Financials and Funding

Funding History

SICO Capital has a paid-up capital of SAR 60 million. The firm is majority-owned (72.7%) by SICO BSC (c), Bahrain, a leading regional asset manager, broker, and investment bank with more than USD 8 billion in assets under management. Bank Muscat SOAG (Oman) owns the remaining 23.3% stake in SICO Capital and is also a strategic shareholder of SICO BSC (c), owning a 10.4% stake.

Recent Funding Rounds

Specific details regarding recent funding rounds are not publicly disclosed.

Notable Investors

SICO BSC (c): Majority shareholder with a 72.7% stake.

Bank Muscat SOAG (Oman): Holds a 23.3% stake and is a strategic shareholder of SICO BSC (c).

Utilization of Capital

The capital is utilized to enhance SICO Capital's service offerings, expand its market presence, and invest in technology and human resources to support sustainable growth.

Pipeline Development

Key Pipeline Candidates

SICO Capital's pipeline includes:

Asset Management: Developing and managing mutual funds and discretionary portfolios.

Investment Banking: Advisory services for equity and debt offerings, IPOs, private placements, M&A, and restructuring.

Brokerage Services: Providing access to local and regional equity markets through a reliable trading platform.

Custody Services: Safeguarding securities within fund structures.

Stages of Development

The firm is actively developing and managing various funds and portfolios, offering a range of investment solutions to meet client objectives.

Target Conditions

SICO Capital targets a diverse range of market conditions, aiming to provide tailored financial solutions that align with client investment goals.

Anticipated Milestones

Specific timelines for anticipated milestones are not publicly disclosed.

Technological Platform and Innovation

Proprietary Technologies

SICO Capital utilizes advanced trading platforms and technology solutions to ensure efficient and secure execution of trades.

Significant Scientific Methods

The firm employs comprehensive financial analysis and valuation techniques to assess investment opportunities, ensuring informed decision-making.

Leadership Team

Executive Profiles

Wissam Haddad: Chief Executive Officer with over 22 years of experience in investment banking, private equity, real estate, and corporate finance across the GCC. Previously served as Group Head of Investment Banking at SICO BSC.

Mishal Ali Alhellow: Chief Operating Officer with over 24 years in the technology sector. Prior roles include Director of Technology at Arcapita Group and the Ministry of Finance and National Economy.

Khalil Ahmed Shamsi: Chief Financial Officer with over 17 years in finance, accounting, regulatory reporting, internal controls, and taxation. Former Head of Internal Control and Taxation at SICO BSC.

Syed Taj Ahmad: Chief Risk Officer with experience in market, credit, and operational risk relevant to capital markets. Former Chief Risk Officer at Samba Capital.

Hisham Mohamed Al-Fayez: Chief Brokerage Officer with over 22 years in the brokerage industry. Former Head of Brokerage and Margin Lending at Alistithmae Capital.

Naveed Ahmed: Group Head of Equities Investment Management with over 20 years in the GCC and MENA region. Oversees asset management funds and discretionary portfolios.

Maan Alderazi: Head of Real Estate Investments with over 20 years in cross-border real estate private equity investments. Formerly responsible for real estate investments at Meraas Capital and Istithmar PJSC.

Rana Al Khattab: Head of Compliance and AML with nearly 20 years in corporate governance, risk management, and compliance across Saudi Arabia’s financial sector. Former senior positions at Swicorp and Audi Capital.

Competitor Profile

Market Insights and Dynamics

The Saudi Arabian financial market is characterized by rapid growth and diversification, driven by the nation's Vision 2030 initiative. This dynamic environment presents opportunities for financial institutions to expand their services and client base.

Competitor Analysis

Key competitors in the Saudi financial services sector include:

Al Rajhi Capital: A leading investment firm offering asset management, brokerage, and investment banking services.

NCB Capital: The investment banking arm of the National Commercial Bank, providing a range of financial services.

Riyad Capital: The investment arm of Riyad Bank, offering asset management and brokerage services.

Strategic Collaborations and Partnerships

SICO Capital's strategic collaboration with SICO BSC (c) enhances its market position, providing access to a broader range of financial solutions and expertise.

Operational Insights

SICO Capital differentiates itself through its comprehensive service offerings, experienced leadership team, and strong regional presence, positioning it as a competitive player in the Saudi financial services market.