Awards for excellence – Singapore

Best bank:

DBS

Best equity house:

Merrill Lynch

Best debt house:

Citigroup / Salomon Smith Barney

Best M&A house:

CSFB

The Singapore government is well aware of the need to move toward a more service-based economy. The manufacturing sector is pricing itself out of the market and can only look on as companies move their operations to Malaysia and China. The bedrock for such an economy is a robust financial sector able to compete with foreign banks in an area that will become increasingly liberalized.