European SRP Euromoney Structured Retail Products survey 2011: Local presence still counts in structured retail products
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European SRP Euromoney Structured Retail Products survey 2011: Local presence still counts in structured retail products

Domestic banks dominate distribution at national level. But competition across Europe, both regionally and nationally, is heating up in the manufacturing of products for retail clients. Kim Hunter reports on the findings of a new, exclusive survey.

The inaugural European SRP Euromoney Structured Retail Products Ranking & Awards show just how competitive the European market for structured retail products is. Through the financial crisis, banks have altered risk appetites and changed priorities, opening competition in some areas and tightening it in others. Around 50 entities lead at least one business area for at least one European country. Product manufacturing is less open than distribution: only three investment banks achieved "best in Europe" status, although the field widens considerably at the national level.

StructuredRetailProducts.com and Euromoney polled almost 400 distributors representing over €100 billion in annual sales, as well mining SRP’s database of over 2 million products, to produce the first in a series of quantitative and qualitative studies of the structured retail products market.

Commerzbank Corporates & Markets cleaned up among the manufacturing banks Europe-wide: it won best manufacturer, best manufacturer for client services, and best manufacturer of equities products.

"Service," explains Jaime Uribe, the bank’s co-head of FIM sales for equity markets and commodities, "I know it’s become the industry watchword, but it is so important to make sure your clients receive your very best."

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