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At a gala dinner in London Thursday July 8, 2010,
Euromoney announced the winners of its Awards for
Excellence the most prestigious awards in the global
The dinner was attended by 450 of the leading bankers and
investment bankers from around the world, and was hosted by
Credit Suisse was awarded the title of best global bank.
With its successful execution on a new strategy, and high
returns on a low-risk model, Credit Suisse is arguably the
best-run bank in the world today, said
Euromoney. Its model is one that many other
global banks are now seeking to emulate, if not in whole then
certainly in part. The numbers speak for themselves: for the
first quarter of this year, a tier one ratio highest in its
class of 16.4%; risk-weighted assets lowest in its peer group
at $218 billion; and a return on equity that was the highest of
the global banks, at 23.3%.
Brady Dougan, CEO of Credit Suisse Group, said: "We are
honoured that Euromoney has chosen to recognise Credit
Suisse tonight. While these awards recognize our past
performance, we are mindful that we must continue to remain
focused and responsive to further change in our industry. Firms
that are willing and able to successfully change the way they
do business have the best chance of thriving and we think our
client focused, capital efficient strategy positions us well
for the challenges ahead. We are grateful for the continued
support of our clients, shareholders and employees, without
whom these awards would not have been possible." Deutsche Bank
is the best global investment bank for 2010. What makes
Deutsches performance truly remarkable is that it comes
during a period in which the firm has fundamentally transformed
its core businesses, rethought its model, reduced risk, reduced
assets and had high staff turnover. No other major global
investment bank has chosen to undertake such a transformation
and executed it while still producing superior financial
results and doing good work for clients,
Anshu Jain, head of the corporate and investment bank at
Deutsche Bank, said: "We are very pleased that
Euromoney chose to recognise us as the best investment
bank for 2010. Our ability to gain market share across the
Corporate and Investment Bank while simultaneously reducing
risk and positioning for the future is a tribute to our
employees and their efforts on behalf of our clients."
Vikram Pandit is the winner of Euromoneys first
banker of the year award, recognising his achievements in
restoring Citigroup to profitability having executed one of the
biggest, and most complex, bank restructurings in history.
For a man who was supposedly doomed to fail, Vikram
Pandit has done a remarkable job in transforming
Citigroup. Few, if any, bank chief executives have faced a
tougher set of challenges over the past two years or been the
subject of as much criticism. He has come through many battles,
and no doubt has more to come. But it is time to start giving
Pandit some credit for his achievements.
Pandit said: I am deeply honoured that Euromoney
has recognised the significant progress we are making at Citi.
By focusing on being a bank dedicated solely to serving its
clients and taking advantage of our unique global footprint, we
have put all the elements in place for long-term profitability
and success. This recognition would never have been possible
without the dedication and hard work of our 263,000 employees
around the world, and I am proud to accept this award on their
HSBC, Euromoneys best global bank in 2009, had
another successful year, winning four global awards more
than any other bank including the prestigious emerging
markets bank of the year title.
Barclays was the inaugural winner of Euromoneys
best global flow house award, recognising its achievements in
sales and trading of credit, rates, equities and
Moelis & Co also scooped a new award, as best independent
All of the winners of the Euromoney Awards for
Excellence 2010 are published in the July
issue of Euromoney, available online to
The July issue also includes exclusive, in-depth interviews
with Credit Suisses Dougan, Citis Pandit, and
Deutsche Banks Anshu Jain and Michael Cohrs.
ABOUT EUROMONEY AWARDS FOR EXCELLENCE
Since 1992 Euromoney, the worlds
leading financial markets magazine, has singled out the
outstanding institutions in finance.
Over the years, the Awards for Excellence have evolved with the
markets they cover. They now incorporate 25 global awards for
banking and capital markets; and awards for the best banks and
securities houses in almost 100 countries around the
All the awards have one central theme they recognise
institutions and individuals that demonstrate leadership,
innovation, and momentum in the markets in which they
Banks are invited to submit their credentials for the awards
which, after analysis and interview, are decided by a committee
of senior Euromoney journalists chaired by the
magazines editor, Clive Horwood.
ACCESSING EUROMONEYS AWARDS FOR
Members of the media wanting access to the Awards for
Excellence results should contact Peggy Westlotorn,
marketing manager for Euromoney, at firstname.lastname@example.org or
+44 207 779 8861.
Non-subscribers wishing to access the results through
Euromoneys website should call our hotline on
+44 207 779 8999. For immediate access, subscribe
Award winners who wish to promote the results may contact us.
Photos from the global awards dinner (PDF)
More photos from the global awards dinner
Photos from the Asia awards dinner (PDF)
2010 Awards for excellence: Off the Record