The name change will be effective immediately, according to a statement.The rebranding comes as part of the company's efforts to strengthen its presence in regional capital markets. The new name reinforces GIB Capital's continued focus on its core business activities of investment banking and capital market transactions. "We are confident the new name, GIB Capital, will position the company better for future growth in the capital markets business in the Kingdom and the GCC as a whole,” said GIB Chief Executive Officer Yahya Alyahya. GIB Capital was established in 2008 as a fully-owned subsidiary of GIB to carry out investment banking activities within Saudi Arabia and is duly authorized by the CMA. GIB and GIB Capital have an established track record of advising on a number of successful IPOs in Saudi Arabia. To date, they have introduced offerings to the Kingdom's capital market in excess of SR19 billion.
