New York-based Global Finance magazine has recently announced the winners of its World’s Best Investment Banks Awards for 2012. Gulf International Bank (GIB) has won two awards: ‘Best Equity Bank in the Middle East’ and ‘Best Investment Bank in Bahrain.’ The editors, with input from industry experts, used a series of criteria to arrive at their selection. The criteria included market share, number and size of deals, customer service and advice, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, and after-market performance of underwritings. Other criteria included profitability, financial strength, as well as quality of staff dedicated to investment banking. A full report on the world’s best investment banks will be published in the April 2012 issue of Global Finance magazine. GIB’s awards were won based on the recent successes of its investment banking business. In 2011, GIB Capital — GIB’s fully owned, Riyadh-based subsidiary — advised on the Hail Cement Company IPO of SAR 489.5 million in the Kingdom of Saudi Arabia (KSA). This was the largest IPO of the year in KSA and the second-largest IPO in the entire region in 2011. The award for Best Equity Bank in the Middle East emphasizes GIB Capital’s position as the only investment bank in KSA to have brought at least one transaction to the market every year since 2008 despite difficult market conditions. In 2010, GIB advised on the ALBA IPO in Bahrain, acting as the regional lead manager.