Lloyd Blankfein
Selecting the best investment bank in the world is no easy task. First, the definition of what an investment bank is, or should be, has become something of a moot point.
Guy America
In the past 12 months, JPMorgan has continued to consolidate its position as the world’s top bond trading house. Through an established worldwide presence and the development of new international bond markets, the bank has demonstrated its ability to provide clients with unrivalled breadth, scope, reliability and consistency of liquidity provision.
Vlad Torgavnik
Contrasting the success of banks’ technology programmes can be difficult so for the award of CIO of the Year, which will be presented by BT, we asked the CIOs of global investment banks to vote for one of their peers in acknowledgement of their accomplishments.
Chris Barter
If a list of the biggest transactions is enough to secure an award, then Goldman Sachs is an easy winner. In the past 12 months, it has been involved in deals including the largest ever equity offering in the financial sector globally, the largest ever equity offering from China, the largest ever FIG rights issue globally, the largest ever capital increase used to finance an acquisition and the largest hybrid transaction ever in the fixed income markets.
In a year when commodities-related business has helped to drive profits as well as news headlines, this year’s award for commodities trading house goes to a bank that has been in the business for more than a quarter of a century.
Tyler Dickson
With its innovative solutions, Citigroup is a deserving winner of this award. In the past year, it was bookrunner on most of the 10 largest convertible offerings around the world, providing complex and effective structures to resolve clients’ challenging requirements.
Ted Lord
First introduced in 1768 and with an impeccable payment record since the first issue, covered bonds are neither new nor headline grabbing, yet the product is continuing its inexorable march around the world as global investor demand grows.
Lisa Watkinson
Lehman Brothers’ pioneering spirit has put the firm at the forefront of credit derivatives product design and market development. By continuing to foster that spirit, it has secured this year’s award.
In the past year, Lehman developed the first ever rated synthetic equity structure that enables traditional investors who need a rating to access cheap equity.
Ingo Ramming
The emissions trading team grabbed newspaper headlines this year. In April and May, the market was shaken up as 2005’s data revealed corporates’ greenhouse gas (GHG) emissions were significantly lower than many European countries’ targets, leaving uncertainty about future market adjustments.
Christophe Mianné
In the same way that it costs less to keep a customer than it does to win a customer, it can seem easier for an incumbent to keep an award than for others to take it away.
Phillip Hylander
For all the ire that Goldman Sachs generates for its powerful proprietary trading machine, it adds incredible power to the elbow of its client trading franchise. As one analyst put it: “Nobody gets paid these days for not putting their skin in the game, and few firms put more skin in this game than Goldman Sachs.”
Chris Milner
Asset and liability management may not be the sexiest topic, but an ALM seminar will pack any auditorium, such is the need for pension funds and insurance companies to manage investment risks. Goldman Sachs is a clear winner, having led the market in putting together groundbreaking and holistic solutions.
Jeff Feig
Always an FX contender, this year’s award for foreign exchange went to global FX powerhouse Citigroup, which impressed the judges for its commitment to the market and its continued investment in e-commerce, technology, research and advisory services, and the careful recruitment of professionals to drive the business.
Brian Bassett
In the category for high yield bonds, the judges commended JPMorgan as the house that has most improved its distribution capabilities, and Credit Suisse was noted for still boasting an impressive franchise, if not quite as dominant as it used to be in this space.
Jill Schildkraut-Katz
Merrill Lynch claims this year’s award for the irrepressible dynamism of its hybrid capital business. It has developed more products and opened more markets than any other firm.
Kara Lemont
In the past year, BNP Paribas has continued to build on its prowess in interest rate products and judges were rightly impressed by the pace and breadth of its product innovation.
Viswas Raghavan
In March this year, JPMorgan lead managed a $2,4bn, four-tranche global bond offering for Vodafone. Despite credit noise in the telco sector and $3.5bn of competing supply, the client achieved aggressive pricing and the deal was upsized from $1.5bn.
Paul Raphael
Whether it was rising interest rates, Q2’s volatile stock markets or global political turmoil that contributed to the recent weakening of the IPO environment, many companies pulled the plug on potential share offerings and risk tolerance decreased among investors.
Following the explosive growth of Islamic finance and Shar’ia-compliant capital markets instruments, international banks have made impressive efforts to build out their Islamic platforms, but The Banker’s inaugural award goes to a south-east Asian player, CIMB Islamic, the specialist division of Malyasia-based Commerce International Merchant Bankers (CIMB).
Leveraged finance, the financing topic du jour, was a closely fought award but, in the end, Deutsche claims the prize with the depth of a franchise that spans high yield bonds, structured credits and leveraged loans.
Stephen Victorin
It would have been almost impossible not to give this award to Citigroup. The US loans powerhouse was involved in all the major deals of the past 12 months, continuing its commitment to the global loan market.
It should come as no surprise that Goldman Sachs is our Bank of the Year for M&A. If competitors hoped the strength of the bank’s principal investment desk and the clout of the powerful fixed income, currency and commodities division would derail its traditional advisory business, then they were wrong.
Jon Hitchon
In the running for The Banker’s prime brokerage award this year, Deutsche Bank roared to the front of the race because of its commitment to building an integrated and comprehensive platform. Customers praised the seamlessness of its offering, which dovetails all the elements of prime brokerage with swaps and structured products.
Marcus Giancaterino
In the real estate finance category, a new addition to The Banker’s Investment Banking Awards this year, Citigroup beat the competition into submission with the sheer weight of its franchise. It is a truly global presence that has the ability to finance all parts of the capital structure including senior debt, mezzanine and equity.
Rajeev Misra
This year, there was only one bank to which the risk adviser award could go. JPMorgan and Citigroup were commended by judges, but it was the powerhouse of Deutsche Bank’s global markets platform that won the day. The unique structure of this franchise, which draws on equal expertise in derivatives, equities, FX commodities and credit, and in sales, trading and structuring, continues to lead the way in innovation.
Richard Bartlett
In the past 12 months, Royal Bank of Scotland (RBS) has proved that it deserves to wear the securitisation crown. It has performed consistently across all asset classes and all geographies. In Europe, it has built a strong flow business and has a leading presence in financial institutions, corporate and real estate securitisation, having completed more than 60 public transactions in the past 18 months worth more than $46bn.
Thomas Hardy
In an increasingly competitive market, Royal Bank of Scotland (RBS) is still the top trade and finance firm, representing a benchmark for both clients and market players. The Banker’s judges rewarded its dominating position in various regional markets and its innovative approach to transactions.
