The Banker Awards salute success of top banks in face of downturn

The Banker’s Bank of the Year Awards this year demonstrated that, despite the tough economic environment worldwide, the top banks were capable of producing exceptional performances. While many banks did flounder, many others were able to boost profits and expand their operations. As usual, some continued to perform strongly but of the 27 Bracken awards, only eight retained their titles and of the 124 country awards, only 54 retained their ranking. In judging, the awards focused not only on performance but – especially in the country awards – on innovation, technology and strategy. And for the second year in a row, HSBC claimed the Global Bank of the Year as a result of healthy growth across the globe and good strategic acquisitions. In addition, we have introduced a new award this year focusing on the key issue of Corporate Social Responsibility; this has been won by ING Bank Group.

The Awards procedure is a complex and difficult process involving over 550 entries and we would like to express our gratitude to researcher Mari Ericksen and journalist Jan Wagner for their sterling efforts in managing the process.

Besides the Awards, we look at a variety of topics. Jacques de Larosičre, former head of the IMF and EBRD, examines the complexities of restructuring debt in emerging markets. We assess whether and when China should revalue the renminbi, and Karina Robinson considers her personalities of the year.

In Capital Markets, we interview Lehman Brothers’ Benoit d’Angelin, and examine the new-look commodities businesses at investment banks and the ground-breaking financing structures supporting leveraged buyouts. The Team of the Month is Barclays Capital.

In FX & Treasury, we ask how a shift to equities could impact on the dollar while in Global Securities Services we study the emergence of fund mini-marts and new developments in portfolio restructuring.

In retail, we interview Hans Verkoren about ING Direct’s very successful expansion into eight mature markets. We also look at the growing battle against identity theft. In technology, Capco’s Rob Heyvaert talks about the second wave of cost-cutting in investment banking and we consider the effects of the use of instant messaging (IM) on trading desks and the problems of compliance.

We also include a supplement on core banking systems and the challenges facing banks in modernising core infrastructure.

And, finally, we look forward to our Banking Awards ceremony, sponsored by Oracle and Equant, which will be held at the Dorchester Hotel, London, on September 9, with our keynote speaker Charles Dallara.