Earlier this year, GIB
was named Best Equity Bank in the Middle East and Best Investment Bank in Bahrain by Global Finance magazine.
and Riyadh-based GIB
Capital LLC, it has branches in London, New York, Abu Dhabi, Dhahran, Riyadh and Jeddah with representative offices in Dubai and Beirut.
Capital LLC was granted three key awards by EMEA Finance magazine for their role in key transactions in 2014.
UK managing director and chief executive, Mark Watts, said, 'At over USD300m in assets under management, the fund has been providing top risk adjusted returns, (based on the fund's Sharpe Ratio compared to EuroHedge league table peers), to investors for more than three years now.
The fact within a year of the GIB
opening its doors we are now attracting in additional investment partners to leverage the PS3bn of equity capital that the GIB
already has, demonstrates the value of this model.
Watts joined GIB
UK in the third quarter last year.
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He added that in acknowledgement of the challenging geopolitical environment, GIB
continues to remain committed to the GCC market and would invest in products and services to deliver a superior customer experience.
An exceptional loan loss provision, and provisions for investment securities that GIB
subsequently sold, led to the net loss, the bank said in a statement late Sunday.
Sargent said: "I am very excited to join GIB
and to take responsibility for one of the region's leading asset management franchises.
, which is owned by the Saudi government, is the third largest bank in Bahrain in terms of assets.
The magazine highlighted that GIB
successfully raised $933 million through an oversubscribed bond issue in Saudi Arabia.