Awards for Excellence 2007: Best Cash Management House
HSBC edges ahead of Citi on the basis of its recognition by clients and impressive growth in all regions.
Also shortlisted in this category:
In awarding Citi the title of best cash management house in July last year, Euromoney noted that the US bank would have to fight hard to maintain its position. Sure enough, October’s poll of cash managers, treasurers and financial officers at 4,500 firms worldwide saw HSBC take the lead in the key category "Which ICMS do you use most?" Although more and more multinationals are asking banks to provide them with global payments platforms, most cash management mandates remain regional. HSBC and Citi are the only two banks with a truly substantial presence in every region, and they continue to vie with each other for dominance in all of them.
HSBC is the undisputed leader in Asia, winning 8,000 mandates in 2006/07 and topping Euromoney’s four regional Asia categories as well as Japan.
"I think our Asia business has always been recognized as outstanding," says Andrew Long, head of global transaction banking at HSBC, "and one focus this year has been on accelerating implementation of our most successful strategies there, and indeed in other regions, across the whole business.