CEO Anthony Mallis to retire from SICO [CPI Financial]
(CPI Financial Via Acquire Media NewsEdge) Bahrain-based regional investment bank, Securities & Investment Company (SICO), announced today (28 October) that its Chief Executive Officer, Anthony Mallis, has decided to retire from the bank at the end of March next year.
He will continue in his present role until the Board formally appoints a successor in March 2014, said a media statement.
In May this year, the Board appointed Mrs Najla Al Shirawi as Deputy Chief Executive Officer, while currently retaining her role as Chief Operating Officer.
Shaikh Abdulla bin Khalifa Al-Khalifa, SICO's Chairman, said, "The Board of Directors accepted Tony's retirement request with great regret while understanding his reasons. He had discussed with me and the Board his contemplated retirement back in March of this year. The timing of his decision is now enabling the Board and Management team to facilitate an orderly transition of leadership without disruption to the Bank's operations".
"Tony has been a very strong leader and managed the company through challenging times' said Shaikh Abdulla "The board is grateful for his innumerable contributions to the company and his distinguished tenure as CEO over the last 13 years."
Mallis said, "With 37 years in banking, it is time to conclude this chapter, relax and pursue alternative options. The past 13 years spent with SICO have been the most challenging and interesting of my career, therefore as one would expect it was a difficult decision to make. However, I also believe it is time to hand over the baton to a fresh CEO, to lead SICO through its next successful future phase. We have an accomplished and proven management team that undoubtedly will support my successor.
"It has been a privilege to work alongside my fellow colleagues, an 'on-the-ball Board', and our clients. My colleagues - 'the crew' - are among the most professional and clued-up people in the industry, and constitute an all-round team that has time and again displayed the ability to adapt to a challenging and demanding environment. During my thirteen years' tenure, it has been particularly gratifying to witness SICO become a highly-respected and prominent regional investment bank and asset manager; thriving vigorously in a period through which many of its regional peers found it difficult to navigate," Mallis added.
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