Best bank
Deutsche Bank Best debt house
Deutsche Bank
Best equities house
UBS
Best M&A house
Morgan Stanley
Best at risk management
Deutsche Bank
Best at cash management
ABN Amro
Best at investor services
JPMorgan
Most improved debt house
SG CIB
Bankers in western Europe have developed a new hobby: bashing Deutsche Bank. Debt, equity and even foreign exchange executives at other firms often insist that Deutsche manages to stay at or near the top of league tables by using its balance sheet to snag business it would not otherwise win.
This argument is wearing thin. For one thing, in a low interest rate environment, any bank can afford to lend to key clients. For another, Deutsche has reduced its lending substantially over the past few years.
“A lot of people say Deutsche Bank buys its way into business, but we have been public about reducing our risk-weighted assets,” says David Fass, global co-head of debt products. “We have been number one in debt business from 2001 to 2004 and we have not been buying business.
