Bahrain-based Gulf International Bank (GIB) is to establish a securities company in the Kingdom of Saudi Arabia. The bank has recently obtained a license from the Saudi Arabian Capital Market Authority, Arab News reported today. The new company will be called GIB Financial Services and will provide various specialized services including corporate finance advisory, brokerage services and dealing in securities as principal, underwriter and agent, in addition to fund management and custodial services. Dr. Khaled M. Al-Fayez, GIB's chief executive officer, said the establishment of GIB Financial Services is part of the bank's strategy to continue to expand its activities in the Kingdom of Saudi Arabia and the other GCC states.