SICO Capital, a subsidiary of SICO BSC (c), a Bahrain based Wholesale Bank licensed by Central Bank of Bahrain Bank and a provider for asset management, brokerage, and investment banking in the Kingdom of Saudi Arabia, announced recently its new Board of Directors, which included the appointment of two new independent members: Fawaz Khalid AlBawardi and Mohamed Sameer Ghonaim; three new board members representing the parent company SICO BSC (c): Khalid Abdelaziz AlJassim, Ali Abdulrahaman Marshad, and Bassam Abdulaziz Noor; and the reappointment of Hassan bin Abdullah AlShuaiby as Chairperson and Najla Mohamed AlShirawi as Vice Chairperson. The new board shall serve for a period of three years.
SICO Capital’s Chairperson, Hassan bin Abdullah AlShuaiby, expressed his enthusiasm regarding the new appointments, saying, “It is with great pleasure that we welcome the new board members to SICO Capital’s Board of Director Their combined wealth of experience and diverse backgrounds in various sectors will undoubtedly enrich our discussions and enhance our decision-making processes and governance. We are confident that they will play pivotal roles in guiding SICO Capital towards continued growth and success. I would like to extend our deepest thanks and appreciation to our outgoing Board Members who have successfully served their tenure and provided us with invaluable insight and direction.”
SICO Capital’s CEO, Bassam Abdulaziz Noor welcomed the new board adding, “We are confident that the new board will enhance the company’s vision and growth plans. With the new appointments, we are poised to explore new opportunities, deepen client relationships, and further solidify our position as a leading financial institution in the Kingdom.”
Fawaz AlBawardi brings more than 13 years of experience in asset management and serves on a substantial number of company boards and board committees. AlBawardi is the Head of Asset Management at AlBawardi Group, a position which saw him lead the strategic transformation of the Group and increase operational efficiency. He is also the Managing Director of BENA Steel Industries. AlBawardi holds a bachelor’s degree in finance from Concordia University in Canada, and a Professional Development Certificate from Stanford University.
Mohamed Ghonaim joins the SICO Capital Board of Directors with over 16 years of professional experience. He is the Co-founder and former CEO of D360 Bank since inception, launching the first digital bank in Saudi Arabia. Prior to that, he was an Engagement Manager at McKinsey & Company and Saudi country manager for Rocket Internet Middle East. He also sits on multiple boards advising the leadership teams of primarily tech companies and startups in the region. Ghonaim holds a Bachelor of Engineering with Honors from the University of Manchester and a Master’s in Business Administration from Harvard Business School.
Khalid AlJassim is an independent board member at SICO BSC (c), Najla AlShirawi is Group CEO of SICO BSC (c) and Ali Marshad is Group Head Fixed Income – Asset Management at SICO BSC (c).
