FX Survey 2019: JPMorgan retains its lead; Deutsche Bank is back in business
This year’s Euromoney FX survey results show up some important multi-year trends. The main lesson? Foreign exchange is more competitive than ever.
By Kevin Rodgers
If you like sudden plot twists, you’ll love this year’s Euromoney poll, but if you’re a fan of the continued, slow progression of long-term trends, there’s lots for you, too.
First off, let’s look at the plot twist.
It’s a common (and ancient) fictional trope to see a hero, seemingly out for the count, come back from death – or the brink of it. Game of Thrones’ Jon Snow anyone? In case I sound biased for mentioning heroes in the context of an FX poll, it’s also pretty common for the monster in horror films to lurch back to life as well. You can choose between Jon and Friday the 13th’s Jason.
This year’s poll hero-slash-monster is Deutsche Bank. After many years at number one, the bank had gradually slipped, poll after poll, from second to fifth to eighth last year.
But this year, Deutsche’s FX business is back at number two, confirming the faith the bank’s beleaguered senior management has expressed in it as an area of core strength.