Located in Abu Dhabi, Securities & Investment Company United Arab Emirates (SICO UAE) will execute trades for its institutional and high net worth clients on the three principal stock exchanges – ADX, DFM and NASDAQ Dubai.
The official go-ahead follows ESCA’s regulatory approval of SICO UAE’s key personnel; and inspection of the Company’s new premises at Al Wahda Commercial Tower in Abu Dhabi, and its supporting IT and operating infrastructure. SICO UAE expects to be fully operational by the end of July 2012.
“The establishment of SICO UAE provides SICO for the first time with a physical presence outside Bahrain. As well as expanding the scope of our regional brokerage business, and opening up cross-selling opportunities for other business lines, it gives SICO access to one of the GCC region’s dynamic and growing economies,” Anthony Mallis, Chairman of Securities & Investment Company (UAE), while commenting on the new development, said.
“This significant initiative, which could be replicated elsewhere in the region, is in line with our strategy to expand SICO’s operating presence outside Bahrain into other GCC countries, while also underscoring our enduring commitment to our clients in the region.”
Securities & Investment Company is a wholesale bank offering a selective range of investment banking services, including asset management, brokerage, corporate finance and market-making, on a regional basis and with a particular emphasis on Bahrain. Through its wholly owned subsidiary, SICO Fund Services Company (SFS), SICO also provides custody and fund administration services.