Rivalry among banks to land bond mandates in emerging Europe is as fierce as at any time, according to capital markets chiefs.
With borrowers across the region favouring banks with strong balance-sheet commitment, all the leading firms are being forced to invest heavily in the business.
“I’ve been in the CEE market since 1998 and it’s the most competitive environment I’ve known,” says Chris Tuffey, co-head of credit capital markets in Emea at Credit Suisse. “There are an increasing number of banks aggressively trying to build out a CEE franchise.
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