An arrest warrant has been issued for a man wanted in relation to the "brazen execution" of a high-ranking Hells Angels bikie in January.

Dynamic Transport owner Zeljko "Steve" Mitrovic, 45, died at his work premises at Wetherill Park on January 15 after being shot several times by a man with a pistol.

A 31-year-old male employee was also shot in the right arm during the incident.

Police say the wounded man was caught in the crossfire after up to seven men arrived at the premises and got into a heated argument with Mr Mitrovic.

Acting Assistant Commissioner Peter Cotter said in January the incident was "a brazen execution", possibly related to Mr Mitrovic's personal or business dealings.

Police issued an arrest warrant for Michael Basanovic, 47, from Brighton Le Sands on Thursday, in relation to the shooting of Mr Mitrovic and the wounding of the other man.

Mr Basanovic is a former member of the Hells Angel bikie gang and detectives are concerned for his welfare.

Police are encouraging Mr Basanovic or anyone who knows where he is to contact police immediately.

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