FX poll 2000: Deutsche Bank's great victory

Euromoney FX poll 2000: Deutsche topples Citi 

The banker who says he is "gobsmacked" by Deutsche Bank's success in this year's annual foreign exchange poll ought to have read Euromoney in 1991. While a report then dismissed the German and Swiss banks as being "still basically niche players with a second-tier overall reputation", it also warned of an important shift of power within foreign exchange dealing rooms. "The long-term results," we forecast, "will be a redistribution of power towards the Europeans at the expense of the US commercial banks." It has taken nine years for this forecast to be realized, and it is still only partly accurate. Although Bank of America has dropped out of the top 10 this year, Citigroup and the old Chemical Bank (reinvented within the Chase empire) remain formidable players, and have both increased their market share in 2000. The problem is that neither of...