Awards for Excellence 2014: Best global debt house
Despite recent troubles, Deutsche was the outstanding performer in the debt capital markets over the last year.
Best global debt house:
The recent coverage that Deutsche Bank’s overall fixed income franchise has attracted does not alter the fact that the German bank has had a banner year in debt. It has been front and centre of every big development that took place in the market over the year: high yield, bank capital, corporate hybrids, the return of the periphery, inaugural deals, long-dated and multi-currency issuance, liability management, debt financed share repurchases and the renaissance of the ABS market. It is, therefore, Euromoney’s global debt house for 2014.
There is no doubt that the shine came off Deutsche’s year in the first quarter of 2014 when it was rotated off a number of mandates and announced a 10% drop in FICC revenues. However, JPMorgan and Citi announced FICC falls of 21% and 18% for the same period, and Deutsche’s record throughout our awards period cements its position at the forefront of the industry. “We have seen a fall in fixed income revenues but so has the competition and so has the industry,” says Hakan Wohlin, global head of debt origination at Deutsche Bank in London.