Press release
HSBC has once again been voted the number one international cash manager (ICM) globally by non-financial companies and financial institutions in Euromoney’s benchmark industry survey.
HSBC fought off competition from second and third placed Citi and Deutsche Bank to maintain its leading global position, which was further supported by the UK bank being voted the number one ICM in North America, Asia, the Middle East and Australasia, and in a total of 22 countries, by non-financial companies.
Citi was ranked second globally by non-financial companies and third by financial institutions. The US bank was also voted the number one ICM in Central and Eastern Europe, Latin America and Africa, and in a total of 22 countries, including Russia, Turkey, Taiwan, Ukraine and Zambia by non-financial companies.
Deutsche Bank was ranked third globally as an ICM by non-financial companies and second by financial institutions. The German bank continues to be ranked the number one ICM for non-financial companies and financial institutions in western Europe.
Non-financial companies voted BNP Paribas fourth and Bank of America Merrill Lynch (BAML) fifth globally. Financial institutions voted BAML fourth and Standard Chartered fifth this year.
In the UK specifically, Barclays has risen to be the number one ICM as voted by non-financial companies, surpassing Royal Bank of Scotland and HSBC, which this year were ranked second and third, respectively.
Euromoney’s Cash Management Survey receives responses from the leading cash managers, treasurers and financial officers worldwide, and is considered the benchmark survey for the global cash management industry. This year the survey recorded an 18% year-on-year rise in valid responses, pushing total responses to a new record high of 24,442.
The survey is split into a non-financial companies questionnaire and a financial institutions questionnaire.
Respondents are asked to:
• Indicate which three banks they use most for their cash management services;
• Rate their lead cash manager on a sliding scale of one (equals very poor) to seven (equals excellent) across various service categories.
For more information, contact:
Tim Moxon
Head of research, Euromoney magazine