Sico expands board of directors

Bahrain-based asset manager Sico Capital has appointed the chief executive of Bank Muscat, Shaikh Waleed Khamis Al Hashar as a non-executive director, expanding its board to ten members.

Bank Muscat owns a 10.38% stake in Sico after purchasing an additional 1.38% stake and Al Hashar will serve as the bank’s representative on the Sico board.

Sico acquired a majority stake in Saudi-based Muscat Capital in March 2021 which chairman Shaikl Abdulla bin Khalifa Al Khalifa described at the time as a “a major step in our regional expansion and growth strategy”.

Al Hashar has served as Bank Muscat’s CEO since 2019 and has held a number of senior banking roles in his 28 year career.

He is also a member of the board of directors of the Oman Centre for Governance and Sustainability.

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