SICO Wealth has appointed Ahmed Burashid as chief executive officer ahead of its planned launch at the Abu Dhabi Global Market (ADGM) before year-end, pending final Financial Services Regulatory Authority (FSRA) approval.
A dedicated wealth and asset management subsidiary of Bahrain-based SICO, SICO Wealth recently secured its In-Principle Approval from the FSRA.
The platform forms a core pillar of SICO’s regional expansion alongside its operations in Bahrain and Saudi Arabia (SICO Capital). It will deliver conventional and Sharia-compliant multi-asset solutions, bespoke portfolio management, and investment advisory services to professional GCC clients and counterparties.
In his new role, Mr Burashid will oversee the firm’s operational setup and growth strategy. He brings nearly 20 years of GCC banking and investment experience, joining from Khaleeji Bank, where he was Head of Corporate Banking, Investments, and Debt Capital Markets. He previously spent over 11 years at Kuwait Finance House–Bahrain. He holds a Master of Science in Finance from DePaul University and serves on several corporate boards in Bahrain.
SICO Wealth chairperson Najla Al Shirawi said: “The UAE represents a key growth opportunity in wealth and asset management. SICO Wealth will address rising demand among high-net-worth clients and family offices for sophisticated cross-border solutions. Ahmed’s appointment underscores our commitment to this business and positions us well to drive regional expansion.”
Mr Burashid added: “SICO Wealth has a clear mandate backed by SICO’s 30-year track record. My immediate focus is ensuring regulatory readiness, launching tailored solutions for GCC clients, and building a high-performing team.”
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