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Sico announces key management appointments

Dec 10, 2014 11:44:55 PM / by Shanmugavel Sankaran

Securities & Investment Company (Sico), licensed by the Central Bank of Bahrain (CBB) as a conventional wholesale bank, has announced two new senior management appointments.

Anantha Narayanan, who joined Sico in 2008 as the head of internal audit, takes over as chief operating officer. With over 24 years’ international experience in audit and risk management in the banking industry, he previously worked for international and regional banks as well as one of the big 4 audit firms.

A Chartered Accountant, Financial Risk Manager (US); and an Associate Member of the Institute of Financial Studies (UK); he holds a BSc Honours degree from the University of Manchester, UK.

Wissam Haddad has been appointed the head of corporate finance. He has more than 12 years’ experience in conventional and Sharia-compliant investment banking in the GCC, with a particular focus on corporate and structured finance, private equity and advisory.

He previously worked with regional banks and holds a BCom degree from Concordia University, Canada.

Commenting on the appointments, CEO Najla Al Shirawi, said: "Narayanan has well-proven professional skills, extensive experience in the banking industry, and an in-depth knowledge of Sico operations."

"As such, he will play an important role in contributing to the ongoing growth and development of the Bank, with a particular focus on the critical areas of compliance, risk management, client relations, and other support functions," she stated.

Haddad, she stated, will draw upon his significant regional business experience and achievements to lead the bank’s corporate finance team in capturing new business opportunities across the GCC.

Sico obtained its investment banking license in 1997, and since then it has managed and advised on the majority of equity capital raising exercises and conventional bond issues on the Bahrain Bourse, and has successfully concluded a large number of high profile regional offerings.

"Groundbreaking deals on Bahrain Bourse, include the first fully underwritten and oversubscribed IPO of Bahrain Duty Free Shop Complex Company in 1997 and the privatisation of Seef Properties in 2007, where Sico acted as lead manager, lead underwriter and financial advisor," added Al Shirawi

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Topics: fixnix, Governance, incident management, Risk Management, SICO, asset management, audit management, Bahrain, BCM, Blog, CBB, compliance, risk

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