Risk management results tables

Overall advice 04 03 Bank Score 1 3 Deutsche Bank 216 2 1 JPMorgan 187 3= 4 Citigroup 172 3= 6 Goldman Sachs 172 5 7 Barclays 165 6 5 HSBC 151 7 9 Morgan Stanley 98 8 2 UBS 89 9 8 ABN Amro 60 10= 12 CSFB/Credit Suisse 51 10= 16 Merrill Lynch […]

Overall advice
04 03 Bank Score
1 3 Deutsche Bank 216
2 1 JPMorgan 187
3= 4 Citigroup 172
3= 6 Goldman Sachs 172
5 7 Barclays 165
6 5 HSBC 151
7 9 Morgan Stanley 98
8 2 UBS 89
9 8 ABN Amro 60
10= 12 CSFB/Credit Suisse 51
10= 16 Merrill Lynch 51
10= 17 Lehman Brothers 51
13 14= Bank of America 47
14 23 Standard Chartered Bank 42
15 13 BNP Paribas 41
16 14= RBS 34
17= 11 Société Générale 27
17= 22 Dresdner Bank 27
19 40= Bear Stearns 22
20 * Calyon 20
21= 29= Royal Bank of Canada 15
21= ? DZ Bank 15
23 32= ING Group 14
24 26 Commerzbank 12
25 21 Standard Bank 10

*Crédit Agricole Indosuez 18, Crédit Lyonnais 27

New issues advice
04 03 Bank Score
1 6 Citigroup 166
2 2 JPMorgan 158
3 7 Barclays 142
4 5 HSBC 126
5= 8= Goldman Sachs 125
5= 1 Deutsche Bank 125
7 18= Morgan Stanley 71
8 3 UBS 69
9 12 Lehman Brothers 49
10= 4 BNP Paribas 48
10= 15= ABN Amro 48
12 24= Bank of America 34
13= 13 CSFB/Credit Suisse 31
13= 10= Merrill Lynch 31
15 24= Standard Chartered Bank 29
Internet platform/bank portal
04 03 Bank Score
1 1 JPMorgan 143
2 6= Citigroup 127
3 4 Deutsche Bank 91
4 5 Barclays 83
5 3 Goldman Sachs 79
6 2 UBS 76
7 8= HSBC 75
8 11 Morgan Stanley 62
9 8= Lehman Brothers 60
10 15= BNP Paribas 36
11 13= CSFB/Credit Suisse 29
12 8= ABN Amro 27
13 13= Bank of America 23
14 ? Standard Chartered Bank 20
15 27= RBS 14
Interest rate products
Overall advice
04 03 Bank Score
1 3 JPMorgan 153
2 2 Deutsche Bank 133
3 1 Citigroup 131
4 6 Barclays 117
5 4 HSBC 103
6 13 Goldman Sachs 60
7 16= BNP Paribas 55
8 5 UBS 52
9 11 Morgan Stanley 48
10 21 Lehman Brothers 47
11 10 CSFB/Credit Suisse 36
12= 8 RBS 31
12= 7 ABN Amro 31
14 14= Dresdner Bank 27
15 18= Bank of America 26
Short-dated (< 2 years) OTC
$ swaps
04 03 Bank Score
1 2 Citigroup 113
2 1 JPMorgan 106
3 4 HSBC 78
4= 15 Barclays 70
4= 7 Deutsche Bank 70
6 12= Bank of America 38
7 8 RBS 29
8 18= Goldman Sachs 25
9 3 UBS 23
10 11 Morgan Stanley 21
11 12= Standard Chartered Bank 19
12= * Calyon 17
12= 6 ABN Amro 17
12= 21= BNP Paribas 17
15 24= Merrill Lynch 14

*Crédit Agricole Indosuez 12=

e swaps
04 03 Bank Score
1 1 Deutsche Bank 84
2 9= Barclays 72
3 11= Citigroup 71
4= 8 JPMorgan 66
4= 5 HSBC 66
6 9= BNP Paribas 54
7 4 RBS 24
8= 6 CSFB/Credit Suisse 22
8= 15= Dresdner Bank 22
10= 17= Goldman Sachs 20
10= 3 ABN Amro 20
¥ swaps
04 03 Bank Score
1 1 HSBC 39
2 2 JPMorgan 36
3 ? Citigroup 32
4 12= BNP Paribas 25
5= 5 Barclays 20
5= ? ABN Amro 20
7 ? Goldman Sachs 18
8 ? Mitsubishi Tokyo 16
9 ? Nomura Securities 15
10= 4 CSFB/Credit Suisse 13
10= 6= Deutsche Bank 13
Long-dated (> 2 years) OTC
$ swaps
04 03 Bank Score
1 2 Citigroup 102
2 1 JPMorgan 95
3 4 Deutsche Bank 91
4 5 HSBC 78
5 6= Barclays 67
6 3 UBS 31
7= 13= Morgan Stanley 30
7= 17= Bank of America 30
9 17= Goldman Sachs 29
10 19= Standard Chartered Bank 26
e swaps
04 03 Bank Score
1 1 Deutsche Bank 87
2 6= Barclays 64
3 14 BNP Paribas 57
4 3= Citigroup 54
5 2 JPMorgan 51
6 6= HSBC 46
7 6= ABN Amro 30
8 10 CSFB/Credit Suisse 24
9= 9 RBS 18
9= 3= UBS 18
¥ swaps
04 03 Bank Score
1= 3 HSBC 46
1= 1 JPMorgan 46
3 ? Citigroup 34
4 ? BNP Paribas 19
5 4= Deutsche Bank 18
6= 9= Standard Chartered Bank 15
6= 9= Nomura Securities 15
6= ? Goldman Sachs 15
9 ? Mizuho Financial Group 14
10= 9= Barclays 12
10= 4= Merrill Lynch 12
10= ? Sumitomo Mitsui 12
Caps/floors/collars
$
04 03 Bank Score
1 1 JPMorgan 67
2 4 Citigroup 65
3 3 Deutsche Bank 59
4 5= HSBC 45
5 14= Goldman Sachs 37
6 5= Barclays 29
7= 10= Bank of America 22
7= 2 CSFB/Credit Suisse 22
9 8 Lehman Brothers 21
10 10= UBS 17
11 13 RBS 15
12 19= Standard Chartered Bank 14
13= 19= BNP Paribas 13
13= ? Bear Stearns 13
15 * Calyon 11
*Crédit Lyonnais 17=
e
04 03 Bank Score
1 2 Deutsche Bank 52
2 9 HSBC 36
3 1 JPMorgan 35
4 11= Barclays 33
5 13= Citigroup 30
6 10 BNP Paribas 26
7 3 ABN Amro 19
8= 21= Dresdner Bank 16
8= 7= Goldman Sachs 16
10 * Calyon 15
*Crédit Agricole Indosuez 11=
¥
04 03 Bank Score
1 1 JPMorgan 37
2= 2 HSBC 27
2= ? Citigroup 27
4 7= Deutsche Bank 22
5 3= Barclays 14
6 ? BNP Paribas 12
7 ? Goldman Sachs 10
8 ? Mitsubishi Tokyo 9
9 ? Bear Stearns 8
10= 11= RBS 6
10= 7= Nomura Securities 6
10= ? Sumitomo Mitsui 6
Exotic options
$
04 03 Bank Score
1 4 Deutsche Bank 51
2 2 JPMorgan 48
3 1 Citigroup 45
4 6 HSBC 35
5 17= Goldman Sachs 26
6 8 ABN Amro 20
7 12= Barclays 18
8 ? Bank of America 17
9 7 Merrill Lynch 16
10 ? Société Générale 15
11= 9= Morgan Stanley 14
11= 17= BNP Paribas 14
13 ? Bear Stearns 10
14= ? RBS 8
14= 3 CSFB/Credit Suisse 8
e
04 03 Bank Score
1= 16= BNP Paribas 34
1= 1 Deutsche Bank 34
3 ? Barclays 33
4 6= Citigroup 31
5 2= JPMorgan 29
6 ? HSBC 28
7 11= Goldman Sachs 15
8 11= Société Générale 14
9 2= ABN Amro 13
10 11= RBS 10
¥
04 03 Bank Score
1 1= HSBC 37
2 1= JPMorgan 31
3 ? Deutsche Bank 25
4 ? Citigroup 18
5 ? Barclays 16
6 ? BNP Paribas 12
7 ? Goldman Sachs 11
8 ? Société Générale 9
9= ? CSFB/Credit Suisse 7
9= 4= Standard Chartered Bank 7
Foreign exchange
Overall advice
04 03 Bank Score
1 2 HSBC 152
2 1 Citigroup 140
3 5 Deutsche Bank 108
4 4 JPMorgan 93
5 8= Barclays 72
6 3 UBS 52
7 16= Goldman Sachs 50
8 7 Bank of America 43
9 6 ABN Amro 41
10 19= Standard Chartered Bank 37
11 12 BNP Paribas 35
12 10 RBS 28
13 15 CSFB/Credit Suisse 25
14 32= ING Group 19
15 8= Société Générale 17
16 32= Merrill Lynch 15
17 24= Morgan Stanley 14
18 26= Royal Bank of Canada 12
19= 26= Dresdner Bank 11
19= ? Bear Stearns 11

*Crédit Agricole Indosuez 16=, Crédit Lyonnais 19=

Short-dated (< 2 years) OTC
$/e Swaps
04 03 Bank Score
1 3 Citigroup 73
2 5 HSBC 70
3 1 Deutsche Bank 69
4 4 JPMorgan 63
5 11 Barclays 46
6 2 ABN Amro 32
7 9= Goldman Sachs 29
8= 8 BNP Paribas 22
8= 6 UBS 22
10= 7 Société Générale 17
10= 12= Bank of America 17
$/¥ swaps
04 03 Bank Score
1 3 JPMorgan 58
2 2 HSBC 56
3 1 Citigroup 48
4 6= Deutsche Bank 40
5 6= ABN Amro 25
6 ? Mitsubishi Tokyo Financial Group 20
7= 4 Bank of America 18
7= 10 UBS 18
9 ? Barclays 16
10= ? Goldman Sachs 14
10= 15= Standard Chartered Bank 14
e/¥ swaps
04 03 Bank Score
1 ? HSBC 47
2 ? Deutsche Bank 40
3 ? Barclays 21
4= ? Citigroup 20
4= ? JPMorgan 20
4= ? BNP Paribas 20
7 ? Société Générale 16
8= ? Calyon 13
8= ? ABN Amro 13
10 ? Mitsubishi Tokyo 12
Long-dated (> 2 years) OTC
$/e Swaps
04 03 Bank Score
1 4 HSBC 51
2 6= Citigroup 47
3 1 JPMorgan 46
4 2 Deutsche Bank 43
5 14= Barclays 38
6 12 BNP Paribas 23
7= 14= Goldman Sachs 19
7= 9= Bank of America 19
9= 3 UBS 17
9= 5 ABN Amro 17
$/¥ swaps
04 03 Bank Score
1 2 HSBC 40
2 1 JPMorgan 36
3 7 Deutsche Bank 28
4 3 Citigroup 24
5 8= Barclays 20
6 ? Goldman Sachs 19
7= 6 Bank of America 13
7= 12= Standard Chartered Bank 13
9 ? ABN Amro 12
10 ? Bayerische Landesbank 7
e/¥ swaps
04 03 Bank Score
1 ? HSBC 46
2 ? Deutsche Bank 23
3 ? JPMorgan 20
4 ? BNP Paribas 17
5 ? Standard Chartered Bank 15
6 ? Citigroup 14
7= ? Goldman Sachs 12
7= ? Barclays 12
9 ? ABN Amro 11
10 ? Société Générale 5
Exotic options
$/e
04 03 Bank Score
1 1= Citigroup 45
2 11= HSBC 41
3 3 Deutsche Bank 37
4 4 UBS 27
5 1= JPMorgan 25
6 ? Barclays 19
7 6= Bank of America 17
8 11= Goldman Sachs 16
9= 13= Société Générale 13
9= 10 BNP Paribas 13
9= 8 ABN Amro 13
9= 9 Morgan Stanley 13
$/¥
04 03 Bank Score
1 3= HSBC 39
2 1 JPMorgan 28
3 2 Citigroup 25
4 9 Deutsche Bank 21
5 10= Goldman Sachs 16
6= 5= UBS 11
6= 10= Barclays 11
8 5= Standard Chartered Bank 10
9 10= Bank of America 8
10 5= BNP Paribas 7
11 10= ABN Amro 5

*Crédit Agricole Indosuez 10=

e/¥
04 03 Bank Score
1 ? HSBC 31
2 ? Deutsche Bank 19
3= ? Citigroup 17
3= ? Barclays 17
5 ? JPMorgan 16
6 ? Goldman Sachs 12
7= ? Standard Chartered Bank 10
7= ? ABN Amro 10
9 ? BNP Paribas 8
10= ? Société Générale 7
10= ? Calyon 7
Equity derivatives
Overall advice
04 03 Bank Score
1= 2 Deutsche Bank 35
1= 15= Goldman Sachs 35
3 3 JPMorgan 34
4= 4 Citigroup 25
4= 10= BNP Paribas 25
6 1 UBS 23
7 9 Barclays 17
8 6= CSFB/Credit Suisse 15
9 10= Morgan Stanley 14
10 5 Merrill Lynch 11
Vanilla Pricing
04 03 Bank Score
1 8 BNP Paribas 23
2 ? Bank of America 22
3= 2= JPMorgan 20
3= 1 UBS 20
5 2= Deutsche Bank 18
6 19= Goldman Sachs 17
7 4 Citigroup 16
8= e= Barclays 13
8= 6= Merrill Lynch 13
10= 5 Société Générale 11
10= 19= CSFB/Credit Suisse 11
Ideas
04 03 Bank Score
1 4 Deutsche Bank 29
2= 2 UBS 22
2= 1 JPMorgan 22
4 ? Goldman Sachs 21
5 ? BNP Paribas 19
6 8= CSFB/Credit Suisse 17
7= 7 Citigroup 12
7= 5 Société Générale 12
7= ? Bank of America 12
7= 8= Barclays 12
Service
04 03 Bank Score
1= 2 UBS 26
1= 1 JPMorgan 26
3 ? BNP Paribas 20
4 3 Deutsche Bank 19
5 ? Goldman Sachs 18
6= 4= Société Générale 13
6= 16= Merrill Lynch 13
6= 6= Citigroup 13
9 6= CSFB/Credit Suisse 11
10 11= Barclays 10
Tailored/structured Pricing
04 03 Bank Score
1 10= BNP Paribas 24
2 4 Deutsche Bank 20
3= 3 UBS 16
3= 1 JPMorgan 16
3= 14= Barclays 16
6 ? Goldman Sachs 14
7 2 Société Générale 12
8= 5= Citigroup 10
8= ? Bank of America 10
10= 5= CSFB/Credit Suisse 9
10= 7 Merrill Lynch 9
Ideas
04 03 Bank Score
1 3= Deutsche Bank 29
2 14= Goldman Sachs 24
3 3= Société Générale 19
4= 1= UBS 18
4= 1= JPMorgan 18
6 ? BNP Paribas 14
7 11= Barclays 13
8 14= Citigroup 10
9= 6= CSFB/Credit Suisse 7
9= ? Merrill Lynch 7
9= ? Calyon 7
9= ? Bank of America 7
Service
04 03 Bank Score
1 3 Deutsche Bank 20
2= 1 JPMorgan 16
2= 2 UBS 16
4 ? BNP Paribas 15
5= 4 Société Générale 13
5= 7= CSFB/Credit Suisse 13
5= 9= Goldman Sachs 13
8 9= Barclays 11
9 12= Merrill Lynch 9
10= 12= Citigroup 6
10= 5 HSBC 6
10= ? Bank of America 6
Credit derivatives
Overall advice
04 03 Bank Score
1 1 JPMorgan 53
2 2 Deutsche Bank 43
3 8 Morgan Stanley 40
4 4 Citigroup 33
5 20= Lehman Brothers 25
6 6= Goldman Sachs 24
7 5 HSBC 23
8 3 UBS 22
9 10= Barclays 20
10= 14= BNP Paribas 14
10= ? Bear Stearns 14
Default swaps Pricing
04 03 Bank Score
1 1 JPMorgan 44
2 3 Deutsche Bank 34
3 10= Morgan Stanley 31
4 10= Barclays 24
5 6 Goldman Sachs 22
6 5 Citigroup 21
7 7= BNP Paribas 17
8 4 HSBC 15
9 2 UBS 14
10 14= Lehman Brothers 11
Ideas
04 03 Bank Score
1 1 JPMorgan 53
2 5= Morgan Stanley 30
3 3 Deutsche Bank 28
4 5= Goldman Sachs 25
5 10= Citigroup 23
6 4 Lehman Brothers 20
7 15= BNP Paribas 17
8 7= HSBC 13
9= 7= ABN Amro 11
9= 21= Barclays 11
Service
04 03 Bank Score
1 1 JPMorgan 43
2 ? Morgan Stanley 34
3 8 Citigroup 23
4 4 Goldman Sachs 21
5= 5= HSBC 17
5= 2 Deutsche Bank 17
7 20= CSFB/Credit Suisse 16
8 14= BNP Paribas 15
9 14= Barclays 10
10 3 UBS 9
Asset swaps
04 03 Bank Score
1 1 JPMorgan 23
2 6= UBS 16
3= 2= Deutsche Bank 12
3= 2= Citigroup 12
5= 4 Goldman Sachs 10
5= 11= BNP Paribas 10
7 6= CSFB/Credit Suisse 9
8 6= HSBC 7
9 ? Morgan Stanley 6
10= ? RBS 4
10= ? Dresdner Bank 4
10= 15= Société Générale 4
10= ? CIBC 4
10= ? Nomura Securities 4
10= 6= ABN Amro 4
10= 15= Barclays 4
10= ? Bremer Landesbank 4
Repackaging
04 03 Bank Score
1 1 JPMorgan 18
2 ? CSFB/Credit Suisse 13
3= ? Barclays 9
3= 4= Goldman Sachs 9
5= 13= BNP Paribas 8
5= 2= Citigroup 8
5= 4= Deutsche Bank 8
8= ? HSBC 7
8= 2= UBS 7
8= ? CIBC 7
High yield
04 03 Bank Score
1 5= CSFB/Credit Suisse 30
2 3= JPMorgan 25
3 2 Citigroup 23
4 5= Deutsche Bank 19
5= 12= Morgan Stanley 17
5= 1 Goldman Sachs 17
7 10= Lehman Brothers 14
8 ? Barclays 12
9 ? HSBC 10
10= 5= UBS 9
10= 12= BNP Paribas 9
Portfolio
04 03 Bank Score
1 2 JPMorgan 45
2 12= BNP Paribas 21
3 4 Goldman Sachs 20
4 ? HSBC 18
5= 5= Citigroup 13
5= 1 Deutsche Bank 13
7 7= UBS 11
8 12= ABN Amro 9
9 ? CSFB/Credit Suisse 8
10= 7= Morgan Stanley 7
10= 12= Barclays 7
Emerging markets
04 03 Bank Score
1 2 JPMorgan 24
2 1 Deutsche Bank 19
3 6= CSFB/Credit Suisse 17
4 ? Morgan Stanley 16
5 ? HSBC 15
6 3 Citigroup 13
7 ? Goldman Sachs 9
8 ? BNP Paribas 7
9= 6= Lehman Brothers 6
9= ? Barclays 6
Exotic/structured
04 03 Bank Score
1 2= JPMorgan 33
2 4 Goldman Sachs 19
3 12= Citigroup 16
4 ? HSBC 13
5= 5= Merrill Lynch 11
5= 1 Deutsche Bank 11
7 7= BNP Paribas 9
8= 7= CSFB/Credit Suisse 8
8= 2= UBS 8
10= ? Bank of America 7
10= ? ING Group 7
Commodities
Base metals
04 03 Bank Score
1 1 Goldman Sachs 22
2 3 Barclays 21
3 6= Deutsche Bank 11
4= 2 Morgan Stanley 10
4= 4 Société Générale 10
6= ? Citigroup 7
6= ? ABN Amro 7
8= 5 Standard Bank 5
8= ? Calyon 5
Base metals
04 03 Bank Score
10= ? HSBC 4
10= ? UBS 4
10= ? RBS 4
10= ? CIBC 4
Precious metals
04 03 Bank Score
1 5= Barclays 17
2= 5= Deutsche Bank 16
2= 1 Goldman Sachs 16
4 2= Morgan Stanley 10
5 2= JPMorgan 7
6= 2= UBS 6
6= ? RBS 6
6= 8= HSBC 6
9 ? Bank of America 5
10= 10 Société Générale 4
10= 5= Standard Bank 4
10= ? Danske Bank 4
10= ? ABN Amro 4
Energy
04 03 Bank Score
1 1 Goldman Sachs 74
2 2 Morgan Stanley 51
3 5 Barclays 33
4 6 Deutsche Bank 20
5 3 Bank of America 14
6 8 JPMorgan 10
7= ? BNP Paribas 9
7= 7 Société Générale 9
9 ? RBS 8
10 4 Citigroup 6
Weather
04 03 Bank Score
1 4 Goldman Sachs 10
2 3 Deutsche Bank 8
3 1 ABN Amro 7
4= ? UBS 4
4= ? Calyon 4
4= ? AIG 4
7 ? Bank of America 3
8= 2 Barclays 2
8= ? Fortis Bank 2
8= ? Merrill Lynch 2
Pulp and paper
04 03 Bank Score
1 ? Goldman Sachs 11
2= ? Entergy-Koch Trading 4
2= ? UBS 4
2= ? Citigroup 4
5= ? Nordea 3
5= ? Calyon 3
5= ? CSFB/Credit Suisse 3
8= ? HSBC 2
8= ? Société Générale 2