Sico and Northern announce asset servicing collaboration

Bahrain-based financial services firm Sico has signed an agreement with global custodian Northern Trust that will see the two firms collaborate on investment services.

The agreement is designed to “strengthen asset management services and investment opportunities in the GCC markets”, according to a statement.

The signing of the partnership arrangement took place during the visit of Bahrain’s crown prince and prime minister, Salman bin Hamad Al Khalifa, to the UK.

Consequently, the agreement was referred to as a symbol of the “longstanding ties” between the two countries as well as the two companies involved by Sico CEO Najla Al Shirawi.

It was also announced during the visit that Bahrain had signed a memorandum of understanding to invest $1.3 billion in the UK through Bahraini sovereign wealth fund Mumtalakat, Investcorp, GFH Financial Group, and Osool Asset Management.

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