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OPINION

Editorial: And the award goes to…

The audience fell silent as they listened to his advice: don’t buy things you don’t understand; if you wouldn’t buy something, don’t sell it to anyone else; and don’t lend money to customers you don’t know.

In the space of four weeks in June and July, Euromoney’s editors travelled the globe to announce winners of our Awards for Excellence. At regional events in Dubai, Vienna and Hong Kong, as well as the global awards dinner in London, it was a rare chance to celebrate with bankers who had shone through the toughest 12 months in a generation for financial markets.

The shift in power and emphasis away from traditional markets was reinforced by the bullish moods of bankers in the Middle East, emerging Europe and Asia: no complacency, no hubris – just the reality that enormous opportunities remain, whatever the contagion from the global credit crunch may be.

Developed market bankers were more subdued. But the London dinner provided the highlight of our awards tour; an address, delivered with a mischievous sense of irony, by Santander’s chairman Emilio Botín, the subject of our cover story this month (see And for his next trick... Botín weaves his magic at Santander).

The audience fell silent as they listened to his advice: don’t buy things you don’t understand; if you wouldn’t buy something, don’t sell it to anyone else; and don’t lend money to customers you don’t know.