UBS
In many ways, this award was UBS’s to lose. Having already this year topped The Banker’s FX Poll and garnered other industry awards, it would have to be an exceptional performance by a competitor to unseat the largest FX bank by volume and reigning FX House of the Year. In the end, growing market share, the best use of technology and ongoing innovation meant UBS kept its nose ahead of rivals. And it achieved this against the backdrop of intensifying competition. Indeed, UBS’s claim to be unrivalled in its use of technology and electronic channels to boost market share and increase efficiency is borne out by its dominance in the e-commerce categories of The Banker FX Poll. The ratio of client FX spot, forward and swap tickets dealt over UBS’s electronic platform is now over 75%, while for FX options, the ratio is 50%. Significantly, the number and volume of “traditionally” executed deals has not declined, meaning growth is coming as a result of winning new business over the electronic channel. What also caught the eye of the judges was the response to increasingly complex and specific FX needs from different client segments. FX requirements are growing more specific, necessitating a segmented approach to clients and the roll-out of a variety of premium FX services tailored to the needs of each segment. “We have backed our investment in technology by an equally ambitious investment in value-added advisory services, and a focus on superior client relationship management. We believe that an unrelenting commitment to understanding the needs of our clients will continue to intensify our relationships and serve our strategy of growth,” says Fabian Shey, global head of FXCCT distribution.
