Best bank
Royal Bank of Scotland
Best debt house
Barclays Capital
Best equity house
UBS Warburg
Best M&A house
Citigroup/Schroder Salomon Smith Barney
When Royal Bank of Scotland succeeded in its audacious takeover bid for the larger NatWest last March, one fund manager told Euromoney that the UK’s best-managed large bank had just bought the worst. Investors, analysts and customers sat back and waited to see how ruthless the new bosses would be in trying to turn around an underperforming franchise. Pretty ruthless, seems to be the answer.
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