SICO Wealth Names Ahmed Burashid as New Chief Executive Officer

SICO Wealth Ltd. has appointed Ahmed Burashid as Chief Executive Officer, marking another step in the establishment of its new wealth and asset management platform in the Abu Dhabi Global Market (ADGM).

A dedicated subsidiary of SICO BSC (c), SICO Wealth was established earlier this year and is expected to launch before year-end, subject to receiving final regulatory approval from the Financial Services Regulatory Authority (FSRA).

Building SICO Wealth’s UAE Platform

The appointment is subject to final regulatory approval and comes as SICO Wealth progresses toward its planned launch in the UAE.

The company is being established to serve professional clients and market counterparties across the GCC, offering conventional and Shariah-compliant multi-asset solutions. Its planned services include personalised investment advice, bespoke portfolio management, and access to a broad range of regional and international investment products.

Part of SICO’s Regional Expansion Strategy

The establishment of SICO Wealth in the UAE forms part of SICO’s strategy to expand its business across the region.

The Group already has a presence in Bahrain through SICO BSC (c) and in Saudi Arabia through SICO Capital. The UAE platform is intended to complement these operations and strengthen the Group’s capabilities across key GCC financial markets.

Burashid to Lead Establishment and Growth

In his new role, Burashid will oversee the establishment of SICO Wealth, its business activities and future growth. He will draw on the Group’s capabilities and operations across Bahrain, Saudi Arabia and the UAE.

Following SICO Wealth’s receipt of an In Principle Approval (IPA) from the ADGM’s FSRA, the company is currently completing the regulatory and operational requirements ahead of its expected launch before year-end, subject to final regulatory approval.

Nearly Two Decades of GCC Financial Experience

Burashid brings nearly two decades of experience across banking and investments in the GCC, with expertise spanning investment solutions and regional financial markets.

He joins SICO Wealth from Khaleeji Bank BSC, where he served as Head of Corporate Banking, Investments and Debt Capital Markets. Before that, he spent more than 11 years at Kuwait Finance House – Bahrain, working across its corporate banking and investments businesses.

Burashid holds a Master of Science in Finance from DePaul University and serves on the boards of several institutions in Bahrain.

Focus on Wealth Management Opportunities

Najla Al-Shirawi, Chairperson of SICO Wealth, said the UAE represents a significant opportunity for the Group’s wealth and asset management business. She added that SICO Wealth is being developed to address demand among high-net-worth clients and family offices for sophisticated cross-border solutions.

According to Al-Shirawi, Burashid’s experience across the GCC financial sector will support the development of SICO Wealth and its contribution to the Group’s regional growth.

Building the Business Ahead of Launch

Burashid said he is joining SICO Wealth at an important stage in the Group’s regional expansion. He outlined his focus on establishing the business on strong foundations, completing its regulatory readiness, developing solutions for professional clients and counterparties across the GCC, and building the team required to execute its mandate.

With its UAE platform progressing through the regulatory and operational stages, SICO Wealth is preparing to establish its presence in the region’s wealth and asset management market, subject to receiving final regulatory approval.