SICO Capital introduces securities services business line in Saudi Arabia

By Leandra Monteiro

SICO Capital, a financial services firm based in Riyadh (licensed by the CMA), announces the launch of its comprehensive securities services business line, offering a full range of custody and fund services, further diversifying the firm’s robust spectrum of capital market activities.

The new offerings are tailor-made to meet the evolving needs of a diverse local and global client base of both emerging and established players, capitalizing on the flourishing asset management business in Saudi Arabia.

SICO Capital’s securities services, in addition to pre- and post-trade execution solutions, will include more value-added services for asset managers, such as middle office and performance analytics for public and private funds covering all asset classes – both liquid and illiquid. The investor services offered will include unit holder dealing, investment manager factsheets, along with bespoke front-to-back-office reporting.

“SICO’s approach has remained focused on identifying and filling market gaps with world-class solutions since its inception – a key element that has been undoubtedly translated into SICO Capital’s strategy. With this exciting introduction of our new securities services in Saudi Arabia, in collaboration with top-notch global providers of custody and funds service systems, we have made significant investments in terms of high caliber people and cutting-edge technology solutions to ensure that our service offerings set new standards in asset servicing arena,” said Fadhel Makhlooq, Managing Director and Acting CEO of SICO Capital.

To deliver the services to its customer base, the firm secured partnerships with several players across the globe. FIS, a global FinTech player based in the US, will be providing top fund services and alternative assets solutions. SICO Capital will be leveraging products from S&P Global Market Intelligence, a provider of financial information and solutions, for pre-and post-trade asset servicing solutions, as well as high-quality custody and asset services solutions from another reputed global custodian.

“Enhanced services through our integrated broker custody model brings our investor closure to market deadlines while reducing operational risks. With our holistic fund services offering and middle office outsourcing solutions, such as performance analytics, we are able to provide timely and quality data analytics for both the managers and investors. As we are operating in an evolving landscape, we are also adopting block chain-based solutions and considering digital asset classes. We aim to be a trusted partner for asset managers and asset owners by serving their end investors’ needs today and tomorrow with our robust and scalable systems supported by a team of experienced and leading professionals,” said Francis Dassou, Chief Securities Business Officer of SICO Capital.