| Grant Kvalheim | ||||||
Even a year ago US bulge-bracket firms refused to acknowledge that a foreign bank could come within striking distance of having a decent US bond business. That’s no longer the case.
This year, in large part because of the boom in global multi-currency and dollar deals and greater European investor participation in them, UBS Warburg and Deutsche Bank have made serious headway in the dollar bond new issue and secondary market rankings.
“There has been a tremendous increase in the efforts of foreign banks in the US bond market,” says a managing director in global debt capital markets at a top-four bulge-bracket firm.
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