Gulf International Bank (GIB) has won the Fastest Growing Asset Management Bank, Saudi Arabia” award from the international business magazine, Global Banking and Finance Review, for its efforts in developing asset management products for the Kingdom and the bank’s wider client base.

GIB UK, the London-based manager of the assets, succeeded in achieving a growth rate of 28 percent in asset management revenue in 2014 and 16 percent in the first six months of 2015, ending June 30.

GIB UK’s efforts include the development of its Emerging Markets Opportunities Fund (EMOF), which has just passed its five-year milestone, and the introduction of several new services for institutional clients, including cash management and money markets solutions, and MENA bond and equity portfolios.

GIB CEO Yahya Alyahya said: “GIB’s 40 years of experience have enabled the bank to continuously enhance its capabilities in the area of asset management. With markets changing at a rapid pace, GIB’s asset management business is well placed to offer globally competitive and innovative solutions to our client base.”

Mark Watts, CEO of GIB UK, commented: “Winning this Global Banking and Finance Review award is a testament to the strength and experience of the bank’s asset management team and our continuing focus on providing solutions to our clients’ investment needs.”

Global Banking and Finance Review specializes in the area of banking and financial services, covering key developments around the world. It targets CEOs and chairpersons in the industry, discussing relevant topics, including corporate finance, joint ventures, mergers and acquisitions, investor relations and other related issues.

GIB is owned by the six Gulf Cooperation Council countries. Saudi Arabia’s Public Investment Fund owns 97.2 percent of GIB.

Gulf International Bank (GIB) is a pan-GCC universal bank that specializes in corporate and investment banking and has a growing retail footprint.