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New Wealth Management Firm Opens Its Doors In Saudi Arabia

Wendy Spires Group Deputy Editor London 15 June 2011

New Wealth Management Firm Opens Its Doors In Saudi Arabia

A new entrant has burst onto Saudi Arabia’s wealth management scene with the launch of SEDCO Capital in Jeddah.

The firm has been set up to cater for what it calls super and ultra high net worth individuals, institutional investors and family offices. While yesterday saw the firm officially open its doors for business, it first secured regulatory approval from the Saudi Arabian Capital Market Authority last year.

SEDCO Capital's 26-strong team have come across from SEDCO Group, where they had previously managed the wealth of the Bin Mahfouz banking family since 1996.

SEDCO Capital manages and advises on an investment portfolio amounting to some SR11 billion ($2.9 billion) in assets.

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