Awards for Excellence 2012: Best Debt House
Barclays has shown skill and strength in adversity to cement its place as the leader in DCM this year.
This year more than any other, success in DCM has required both breadth and depth. With markets as jumpy and unpredictable as they have been, the best global debt house must not only have excellent global reach, it must also be product, tenor and currency agnostic. This year that house is Barclays.
Barclays and its shortlisted competitors dominate the DCM markets. But over the past 12 months the UK bank has been everywhere – among the top-three ranked underwriters across all FIG, SSA, US dollar, euro and sterling issuance. This focus on both domestic and cross-border business is underpinned by an enviable trading, distribution and research platform.
League-table strength is a given in this category, but a closer look at the business that Barclays has been writing gives an indication of the regard in which this team is held. In SSA, under the most challenging circumstances imaginable, the bank has excelled amid the storm. It is the number-one underwriter for EFSF and ESM issuance – quite a feat for an institution that is not even a eurozone bank.