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Westpac leads in Australia. BTM is the biggest and the best in Japan. And Nomura Securities retains its powerful position. Graham Hands, Kathryn Hanes
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This year's awards for excellence are a final farewell to domestic banking. Definitions of domestic or foreign have acknowledged that while local banks may have the best retail and local currency wholesale operations in a country, foreign institutions, with a handful of branches, often offer the best in cross-border financing and transaction services. Consolidation will ensure this year will be the last in which this distinction has any meaning.
