The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Awards

Awards for Excellence 1999: North America

Awards for Excellence 1999


North America

After looking at the first quarter results for many of the banks and securities houses in the US, you could be forgiven for thinking that nothing has changed much in the past year. Most produced very healthy results, some had record quarters.

Mergers and takeovers have continued, of course, but not in the same vein as last year. There have been no domestic link-ups on the scale of Citicorp-Travelers, BankAmerica-NationsBank or BancOne-First Chicago; instead, consolidation has seeped one level lower, to the likes of Fleet-BankBoston and, just last month, the $5.9 billion merger of Zions Corporation and First Security Corporation.

Elsewhere, though, there has been upheaval. Two of the top three securities firms in the US, Merrill Lynch and Goldman Sachs were hit by the Russian meltdown (Morgan Stanley Dean Witter was less severely affected).

One fared much worse - Bankers Trust was too badly hit to rise phoenix-like from the flames this time; the rating agencies were said to be on the verge of downgrading the bank to junk status. Instead it was ensnared by a $10.1


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree