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. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Most improved investment bank

Chase Manhattan

Awards for Excellence 2000

Chase wins this award on a paradox - that it has not managed to achieve what it wanted to.

But the way in which Chase has dealt with its inability to buy itself into the equities business is intelligent, and more importantly ought to bring nothing but upside for the firm.

How different it would have been had Chase succeeded in its quest to buy Merrill Lynch or Morgan Stanley, for example, or any other large brokerage house. On paper it would make for a formidable universal bank, lacking Citibank's relationships but with much more product power. In reality it would have been an expensive mess, especially in the debt capital markets groups where Chase and all of its potential targets can claim strength.

Chase has followed a different path, one that increases its presence without having to risk the whole of the firm. It does not create a global, bulge bracket investment bank, but it opens doors to new products, new markets, and the new economy.

Hence it wins the award for most improved investment bank. In fact, with close to $2 billion in earnings from its wholesale business (syndicated loans, foreign exchange, debt markets and derivatives), Chase is no small contender to start with.

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.


Unlimited access to and

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


Unlimited access to and, 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


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