The Champions League of investment banking

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Investment banking is not a matter of life and death – it’s more important than that. A new ranking from Euromoney shows which firms are top of the table and which ones face the threat of relegation. Plus we analyse the CEOs that have provided the best value to shareholders.

PLAY THE EUROMONEY INVESTMENT BANKING CHAMPIONS LEAGUE NOW
Investment banking is not just a matter of life or death -- it's more important than that. Now help your CEO hit his targets by playing our online football game. Cumulative scores for each bank will be published so it's up to you to help your bank get to the top of the league tables. And don't let the sniping comments from rival bank CEOs put you off while you're trying to find the back of the net. Happy shooting from Euromoney!

The Champions League of investment banking:
US firms maintain their dominance of the global investment banking industry, according to a new table put together by Euromoney. But which CEOs have provided the best value to shareholders? Clive Horwood, Alex Chambers and Jethro Wookey report.

Is the banking boom sustainable?
Investment banks continued to ride high in 2006 on good fundamentals and the added boost of strong hedge fund and private equity activity, proprietary trading and continuing globalization. Alex Chambers assesses whether they can sustain the good times in 2007.

Which banks CEOs deliver the best returns for shareholders?
Any football supporter will tell you that the team is usually only as good as the person who runs it. The same applies to investment banking. The CEO sets the agenda for the entire firm. It is a highly pressurized role that will culminate in their removal if the team they manage fails to perform. And the performance that ultimately matters for bank CEOs is to deliver returns to shareholders.

The investment banking Champions League 2006
Euromoney's unscientific guide to the industry's leading firms
 Check out how your bank ranks:

CLICK ON THE LINKS BELOW
Overall feesRoEGoEMark capTotal
1Goldman Sachs321614971
2Morgan Stanley261116861
3JP Morgan281151458
=4Citigroup30511652
=4UBS221431352
6Credit Suisse201011748
7Merrill Lynch24610646
8Barclays101481042
9Deutsche Bank1889439
10HSBC82131538
11Lehman Brothers16126236
12BNP Paribas6971133
13Bear Stearns14412131
14Société Générale2155527
15ABN Amro1272324
16RBS4341223
Source: Dealogic, Annual reports, Euromoney
How we calculated the Investment banking Champions League table

ABN Amro:

PSV Eindhoven

Champions League position 2006: 15th

If ABN were a Champions League team it would be: PSV Eindhoven. Terrific domestic record and brought through some great talent, but struggles to compete internationally in today’s high-spending markets

Barclays Capital:

Arsenal
Champions League position 2006:8th

If Barclays Capital were a Champions League team it would be: Arsenal (with apologies to Chelsea fan Bob). Highly respected, long-serving foreign coach has transformed a traditional, previously staid UK institution, with a host of overseas playing talent
Bear Stearns:

Benfica

Champions League position 2006: 13th

If Bear Stearns were a Champions League team it would be: Benfica. A name that commands respect among the competition but no great fear of it breaking into the upper echelons of the game

BNP Paribas:

Valencia

Champions League position 2006: 12th

If BNP Paribas were a Champions League team it would be: Valencia. Occasionally you think they could go all the way – but not quite the talent and spending power to match the superpowers of the game

Citigroup:

AC Milan

Champions League position 2006: 4th=

If Citigroup were a Champions League team it would be: AC Milan. One of the undoubted giants of the game, but has not dominated the past decade as its competitors feared, and its major supporters expected

Credit Suisse:

Celtic

Champions League position 2006: 6th

If Credit Suisse were a Champions League team it would be: Celtic. Once a dominating force in the game that everyone feared, helped by a domestic game where they only had one real challenger. Now trying to prove they are not a spent force – and having some success doing it

Deutsche Bank:

Chelsea

Champions League position 2006: 9th

If Deutsche were a Champions League team it would be: Chelsea. Fervent supporters believe Anshu Jain is a ‘special one’. The talent at his disposal leads many to believe Deutsche can make it all the way. Sceptics remember the days before Deutsche was a leading contender, and believe high-risk tactics could bring them back down to earth

Goldman Sachs:

Barcelona

Champions League position 2006: 1st

If Goldman were a Champions League team it would be: Barcelona. The champions, and the team that everyone else would love to play for. Then again, once you’re at the top of the league, there’s only one way you can go...

HSBC:

Inter Milan

Champions League position 2006: 10th

If HSBC were a Champions League team it would be: Inter Milan. Spent many years and huge amounts trying to win the championship, but talent never gels and results often disappointing

JPMorgan:

Manchester United

Champions League position 2006: 3rd

If JPMorgan were a Champions League team it would be: Manchester United. Intimidating manager looks as if he is starting to restore the firm to some of its former glories. But JPMorgan has promised much more than it has delivered in recent years

Lehman Brothers:

Porto

Champions League position 2006: 11th

If Lehman were a Champions League team it would be: Porto. By no means the largest club but on their day can beat anybody – in fact, led by an inspirational coach, they recently took the title

Merrill Lynch:
 
Liverpool

Champions League position 2006: 7th

If Merrill were a Champions League team it would be: Liverpool. Tough new coach quickly got results and restored a great club to some of its former glory. But recent tinkering could lead to disaffection among playing staff, and not yet the superpower of old

Morgan Stanley:

Real Madrid

Champions League position 2006: 2nd

If Morgan Stanley were a Champions League team it would be: Real Madrid. Has re-hired a coach who delivered glories in the past, but squad has undergone a great deal of upheaval in attempt to get back to the summit of the game

RBS:

Roma

Champions League position 2006: 16th

If RBS were a Champions League team it would be: Roma. Always compete on the domestic front but about time they made a real impact on the international stage

Societe Generale:

Lyon

Champions League position 2006: 15th

If SG were a Champions League team it would be: Lyon. Société Générale is admired by many competitors, and has a position of domestic strength; the challenge now is to make this count in the toughest competition of all, without losing the principles that are its traditional strength

UBS:
 
Bayern Munich

Champions League position 2006: 4th=

If UBS were a Champions League team it would be: Bayern Munich. The wealth management business drives a machine that always makes UBS a force to be reckoned with. But where is the flair to excite the neutral supporter?