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And the world’s best banks are…
Global Finance has recently released its annual World’s Best Banks report and guess who topped the list this year in the investment banking category? Let me give you a hint; it’s founder built U.S. Steel.
That’s right, Jamie Dimon’s “port in the storm” snatched this year’s award from last year’s winners, Bank of America Merrill Lynch, while over in the FX space, long-time FICC juggernaut Deutsche Bank lost its crown to Citigroup, highlighting just how much the German giant has changed since the LIBOR trials.
Here are the rest of the winners:
Corporate Bank: Mitsubishi UFJ Financial
Consumer Bank: BBVA
Emerging Markets: ING
Asset Management for Corporates: Deutsche Asset & Wealth Management
Global Custody: BNY Mellon
Cash Management: Citi
Trade Finance: HSBC
Global Finance apparently chose the winners via performance, reputation, as well as management excellence, and will be honoring the awardees in Singapore during the SIBOS conference, as well as in Lima, Peru during the IMF/World Bank Annual Meetings.
I’m sure some of you might disagree with the picks here though. Goldman, for instance, is currently on top of the FT’s overall league tables while Dealogic currently places them in second place right after JP Morgan. What do you think guys? I’m curious what you have to say here. I'm fairly certain Citi's right were it should be in regards to FX.
Photo: Steve Jurvetson