China
Best domestic bank: Industrial and Commercial Bank of China
Best foreign bank: HSBC
Best foreign bond house: Merrill Lynch
Best domestic equity house: CICC
Best foreign equity house: CLSA
Best domestic M&A house: Bank of China
Best foreign M&A house: Morgan Stanley Dean Witter
HSBC has been touting 2000 as its year for “going home” to China. In April it opened its mainland headquarters in Shanghai, relocating the management of the bank’s mainland business out of Hong Kong, addressing a long-standing criticism of the bank’s China business.
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