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. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.


Best bank
Bank of America Best M&A
Goldman Sachs

Best equities house
Morgan Stanley

Best bond house

For the third year running, Bank of America wins the best US bank award. Its chief contender is Wells Fargo, which last year was elevated to triple-A status, the only US bank that has the top credit rating. Wells Fargo’s management team enjoys a good reputation in the eyes of investors, and its rivals regard it as a serious competitor.

But Bank of America offers greater coverage across the US as well as more products. Its cash management business is the top franchise in the US, whereas Wells Fargo is more of a regional player. BofA is also one of the top three syndicated loan arrangers in the country, behind JPMorgan and Citigroup. Its investment-banking franchise, meanwhile, is now a more entrenched business than some gave it credit for a year or two ago.

Its not all rosy, though: investors and competitors continue to wonder why the bank has not put more of an effort into becoming a bigger foreign exchange player. And investors weren’t best pleased with the price BofA paid for FleetBoston last year. Former sell-side analyst turned investor Tom Brown returned to the BofA bashing ways that he had set aside a couple of years back, mentioning among other things what he describes as the inability of the bank effectively to integrate its various retail banking platforms from previous mergers.

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