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Foreign Exchange

The not so excellent awards

As if judging which bank deserves to win the Euromoney Award for Excellence wasn’t hard enough, my task has been made harder by the way some of these outstanding institutions have submitted their pitches.


One asked for an extension of a week, sent me its tender on the following Friday, only to withdraw it on the Monday and replace it with a fresh one. The bank in question is undoubtedly good at FX, but this is like one of its clients asking for a rate value June 16 and not being quoted until the value date was June 23. It wouldn’t get the deal.


Another bank sent in a pitch that had so many different-sized fonts in it, I had a dizzy spell trying to read it. Still, because I’m a cheery fellow, I’m glad to see that both these banks have got their priorities right and are more focussed on running their businesses than winning awards.

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