HSBC and Citi take the honours in Euromoney cash management survey
This year’s cash management survey is particularly significant given the growing recognition of the value of cash management services in the wake of the global financial crisis and increasing concerns regarding investment banking.
HSBC has been named the top-rated ICM for financial institutions – displacing Citi from the number one spot for the first time. HSBC’s victory in the survey stems from its dominance in Asia coupled with strong showings in all other regions.
Citi takes second place for Financial institutions, in which it tops the tables for more regions than any other institution – and supplanting Deutsche Bank as the most used ICM in Western Europe. Deutsche Bank maintained its position in third place overall.
Barclays gave a strong performance in the financial institutions section of the survey, moving to sixth place from ninth.
Citi held on to first place in the non-financial institution section of the poll, with HSBC also maintaining its position in second place. However, the margin between the two has narrowed considerably.
Further down the rankings, UBS also managed a strong showing in both sections of the survey, increasing its standing by nine places each in both the financial and non-financial section. This allowed them to take 15th place in the former, and 19th in the latter.
About the cash management survey
Euromoney surveys cash managers, treasurers and financial officers worldwide. For our 11th cash management survey we received almost 17,000 valid responses, an increase of 39% on the 2010 results. Some 14,089 of these were from non-financial institutions and 2,878 from financial institutions.
Access to the full results of the Euromoney cash management survey is strictly available to subscribers only. To get access, visit www.euromoney.com/subscribe or call our hotline on +44 207 779 8999.
More coverage: www.euromoney.com/CM
Euromoney magazine is the flagship title of London based financial communications company Euromoney Institutional Investor PLC. Founded in 1969 by Sir Patrick Sergeant, Euromoney magazine is the voice of the international capital markets with 42 years of unparalleled coverage of the global bond, equity and foreign exchange markets. Euromoney Institutional Investor PLC is a constituent of the FTSE-250 index and is listed on the London and New York Stock Exchanges.