May 25, 2024

SICO elects Owen Vallis, Nimita Nazer as CRO and HMO

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Owen Vallis, newly appointed Chief Risk Officer at SICO

SICO BSC (C), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), announced today the appointments of Owen Vallis as Chief Risk Officer and Nimita Nazer as Head of Middle Office.

According to the SICO statement, both of these titles are newly created positions in SICO’s management team aimed at expanding and enhancing both functions within the Bank, noting that Middle Office is a recently established department to provide the Bank’s  Asset Management activities.

Additionally, SICO added that the latest appointments to the executive management team are part of SICO’s commitment to retaining the best calibers in the industry, as it works to maintain its operational excellence while continually deploying the best of resources to service its clients.

SICO further explained that Owen Vallis will assume his position as Chief Risk Officer at SICO with 18 years of experience in risk management. Prior to joining SICO, Mr Vallis was the UK Head of Asset Management Risk at Credit Suisse Group in London for 10 years. He additionally held the position of Vice President at JP Morgan for two years. Mr Vallis also previously worked at Morgan Stanley and Kleinwort Benson as a Risk Analyst. He holds a BSc. in Disaster Risk Management from the University of Portsmouth, UK.

Mr. Vallis commented: “This new role is a very exciting step in my career and I am looking forward to working with the Board, the Executive Leadership Team, and employees to strategically develop SICO’s Risk Management department to become one that is best equipped to respond prudently to any emerging threats while maintaining sustainable business growth for the long-term.”

SICO further explained regarding appointing Nimita Nazer as the Head of Middle Office as a seasoned investment banking professional with over 15 years’ experience within international conventional banks and financial services in the Kingdom of Bahrain.

According to the firm’s sources, Nimita joined SICO in 2018 as Portfolio Administrator of the Asset Management Equities Department and was responsible for managing the non-investment activities of the department. She previously held the position of Client Services Manager with HSBC Securities Services in Bahrain for 7 years. She is a chartered accountant and member of the Association of Chartered Certified Accountants (ACCA) and Chartered Institute for Securities and Investment (CISI), UK.

Commenting on her appointment, Nimita stated, “I am excited to be moving on to this new role within SICO with the ability to capitalize on my experience here and further develop the business line and contribute to SICO’s expansion strategy. The Middle Office department forms an integral part of SICO’s front and back-office ecosystem. I am looking forward to taking on this new role and being able to create value alongside the team.”

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