Germany

Best bank – Deutsche Bank
Best debt house – Deutsche Bank
Best equities house – Deutsche Bank
Best M&A house – Morgan Stanley
Best local partner – Sal Oppenheim

Choosing a best bank in Germany is a no-brainer. Among the three privately owned banks – now that Dresdner has become part of Allianz – only Deutsche Bank comes close to making the grade. Hypovereinsbank and Commerzbank continue to struggle with huge non-performing loans and the lack of a coherent strategy.