Deutsche Bank has been recognised as the worlds best bank in Euromoneys 2011 Awards for Excellence. The awards, recognised as the most prestigious in the financial markets, were announced at a dinner attended by 500 of the worlds top bankers from more than 60 institutions around the globe in London tonight. Deutsche was commended by Euromoney for outperforming its peers while undertaking a thorough overhaul of its business, including the acquisition of Postbank in Germany, while de-risking and repositioning its investment bank. Euromoney said: Few in the industry have adapted their strategy and business mix so quickly in the post credit-crunch world. A series of acquisitions have rebalanced this banks business mix, away from an over-reliance on sales and trading and more into retail and commercial business. At the same time, it remains one of the leading corporate and investment banks in the world. Most remarkable of all, it has continued to post excellent returns at a time of change in every part of the bank.
"This award is very gratifying for us since it recognizes the outstanding performance of Deutsche Bank's employees and its successful recalibration for the future, " said Josef Ackermann, CEO of Deutsche Bank, collecting the award.
World's best investment bank
Barclays Capital was announced as the worlds best investment bank. Since its takeover of Lehman Brothers in the US in 2008, Barclays has transformed its investment bank. Euromoney said: Barclays Capital has achieved an enormous amount. It is now clearly one of the top half dozen investment banks in the world, when you combine both markets and banking. Its the only foreign bank ever to become a top five player in the US, and in many markets there it ranks much higher than that. Its FICC business remains a global leader, and its M&A and equity businesses are showing great momentum. In effect, this is a business that has crunched five years of growth into the space of just a couple of years.
"I would like to thank Euromoney for recognising Barclays Capital as its Best Global Investment Bank. It is a credit to our people around the world, who focus on delivering great ideas with excellent execution for our clients every day," said Rich Ricci, Co-CEO at Barclays Capital who picked up this award. "Barclays Capital has come a long way since the firm was first established in 1997 - we've seen it grow from its roots as a leading sterling house to its position today as Euromoney's Best Global Investment Bank. However, our job is never done. We need to build on this to deliver even better results for our clients."
Banker of the year
Euromoneys Banker of the year was Roberto Setúbal, the chief executive of Brazils Itaú Unibanco, which has become one of the 10 biggest banks in the world by market capitalization, which now stands at over $100 billion compared to just $2 billion when Setúbal became CEO in 1994.
Itaú continued to go from strength to strength to strength over the past 12 months, but this award also recognises the achievements of Setúbal and his team over the past 17 years. It is one of the success stories of a generation in banking. Of all the banks that have emerged from the growth economies of the developing world, Itaú Unibanco is the best run, and the best positioned to continue its impressive growth story, said Euromoney.
Global award winners
Other major awards winners were HSBC, which took three global awards for sovereign advisory, risk management and infrastructure & project finance; Credit Suisse, which was named best wealth manager, best high-yield house and best emerging market M&A house; Citi, which scooped best emerging market bank and best global transaction bank; and Morgan Stanley, which took both of the highly competitive global M&A and global equity awards. The awards covered more than 20 global categories and almost 100 countries, the highest number ever. Clive Horwood, Euromoneys editor, said: The Awards for Excellence are now in their 20th year, and they remain the benchmark for the industry. We have never experienced such strong competition between banks for the awards as we have this year. The strong credentials that so many banks demonstrated in so many products and countries, we believe, shows the banking industry is well placed to withstand the challenges it without doubt faces given expected global economic developments.
All of the winners of the Euromoney Awards for Excellence 2011 are published in the July issue of Euromoney, available online to subscribers.
Euromoney is pleased to announce a partnership with AbleChildAfrica to support building a new school for the children of Kibera. Our target was to raise GBP £190,000 to facilitate the purchase of land and development and construction of a new centre that will cater through education and health care for children suffering from disabilities and health issues.
Before the dinner, Euromoney conducted a charity tombstone auction on behalf of Little Rock School, an educational institution in the Kibera slum in Nairobi. The sum raised was £540,000*, thanks to some enormously generous contributions from the banks attending the dinner on the night. A full list of donors will be published tomorrow and in forthcoming Euromoney publications.
* Final tally: £597,150
Euromoney would like to thank everyone who contributed to this worthy cause.
Further information regarding the charity View designs of the new centre
ABOUT EUROMONEY AWARDS FOR EXCELLENCE
Since 1992 Euromoney, the worlds leading financial markets magazine, has singled out the outstanding institutions in finance.
Over the years, the Awards for Excellence have evolved with the markets they cover. They now incorporate 20 global awards for banking and capital markets; and awards for the best banks and securities houses in 100 countries around the world.
All the awards have one central theme they recognise institutions and individuals that demonstrate leadership, innovation, and momentum in the markets in which they excel.
Banks are invited to submit their credentials for the awards which, after analysis and interview, are decided by a committee of senior Euromoney journalists chaired by the magazines editor, Clive Horwood.
ACCESSING EUROMONEYS AWARDS FOR EXCELLENCE
Members of the media wanting access to the Awards for Excellence results should contact Grace Nelson, marketing manager for Euromoney, at firstname.lastname@example.org or +44 207 779 6492.
Non-subscribers wishing to access the results through Euromoneys website should call our hotline on +44 207 779 8999. For immediate access, subscribe now.
Award winners who wish to promote the results may contact us.
More information on awards for excellence