FX poll 2000: Deutsche Bank’s great victory

For 20 years, ever since Euromoney began its annual foreign exchange surveys in 1979, Citigroup came top. Now Deutsche Bank has dislodged it by a convincing margin. While critics accuse Deutsche of buying its way into the business with huge salaries, the real reason is its global markets model that brings together commercial and investment banking. Over the past year interbank forex flows fell while M&A and institutional business grew, favouring investment banks and those that combine both functions. Philip Moore reports; research by Andrew Newby.

Euromoney FX poll 2000: Deutsche topples Citi 

2000 FX poll results tables FX Poll methodology

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.

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