North America

The Americans have learned some painful lessons about mergers. The Canadians have been told they can't merge. Fifth Third Bank is successful where others aren't, and TDM in Canada shows the rest how to acquire and integrate. Antony Currie

United States

Best domestic bank: Fifth Third Bank

Best foreign bank: HSBC

Best domestic equities house: Morgan Stanley Dean Witter

Best foreign equities house: Deutsche Banc Alex Brown

Best domestic bond house: DLJ

Best foreign bond house: TD Securities

Best domestic M&A house: Goldman Sachs

Best foreign M&A house: Deutsche Banc Alex Brown

George Schaefer has a very simple recipe for banking. “We buy money at 4%, sell at 8%, and don’t get involved in every new fad,” says the CEO of Fifth Third Bank.

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