A new pecking order emerges in this year’s definitive guide to the top-flight in finance. Deutsche Bank heads up the rankings, boosted by its acquisition-based charge into investment banking. Its $10 billion purchase of Bankers Trust, completed in June, continues the refocusing on corporate and institutional clients (GCI) that contributed over half of Deutsche’s six month profits in the year to June. The bank is particularly strong in trading debt, derivatives and currencies. Weaknesses remain in equity research, Asian equity and M&A – areas in which second rankedMerrill Lynch still tops or is near the top of the league tables.
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