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GIB appoints managing director, chief for UK unit.

Bahrain-based Gulf International Bank (GIB) has appointed Mark Watts, as managing director and chief executive of Gulf International Bank UK (GIB UK).

The appointment is part of GIB's committed focus on expanding its asset management business through GIB UK, its London-based subsidiary providing asset management and treasury services, said a report in the Gulf Daily News (GDN), our sister publication.

Watts joined GIB UK in the third quarter last year. He is a senior executive with over 27 years of experience in the financial industry in the UK, the US and the UAE.

"The business is well established and already enjoys assets under management in excess of $13 billion, making us one of the largest GCC owned asset managers in the market," Watts said.

"I am looking forward to working with the team to further develop our capabilities and offer a wider range of investment solutions to our client base both conventional and Sharia compliant."

The bank's flagship hedge fund - the GIB "Emerging Markets Opportunities Fund" (EMOF) continues to outperform all related benchmarks and delivers excellent risk adjusted returns for investors.

As of September 30 last year, the clients' investment in the fund stood at $340m.

GIB UK plans to expand its asset management capabilities in the region, with the introduction of new products, and greater synergy with Riyadh based GIB Capital. - TradeArabia News Service

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Publication:TradeArabia (Manama, Bahrain)
Geographic Code:4EUUK
Date:Feb 5, 2015
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