Please use Chrome or Firefox browser to view slideshow Such was the demand for tables at the event that one investment banker even suggested creating a secondary market for them. Who said innovation in finance was dead?
Mike Corbat, CEO of Citi, was on hand to collect the best global bank trophy. Colm Kelleher, president of institutional securities, picked up Morgan Stanley’s best global investment bank award. Within a few days, both banks had beaten analysts’ expectations and their peers with excellent second-quarter financial results.
John Hourican, named banker of the year for his remarkable role in turning round once-stricken Bank of Cyprus, reminded the room that they should be proud of the role banks can play in helping revive and drive their countries’ economies.
Guests were entertained by William Hague, the former foreign secretary of the United Kingdom, who bemoaned the absence of an award for worst finance minister of the year for Greece’s recently departed Yanis Varoufakis.
And he expressed his incredulity at the notes witnessed on paperwork written by Varoufakis’ replacement, Euclid Tsakalotos, during the endless rounds of Troika meetings.
“Who’d have thought that when your banks are closed and the country is about to go bankrupt, your key message would be ‘no triumphalism’?” asked Hague.
Many thanks to all who attended, and congratulations to all of Euromoney’s winners this year.
Global Awards for Excellence |
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Best global bank Citi – Last man standingCiti is the last global wholesale bank offering all products to its clients everywhere. It operates in 100 countries and boasts a payment system handling $3 trillion of transactions a day, which no other bank is ever likely to emulate. Under the leadership of Michael Corbat, Citi has closed the share price discount to book value. It must now prove that a global universal bank can avoid the pitfalls of scale and deliver sustainable returns. If it does, it will be the only one. |
John HouricanJohn Hourican, the Bank of Cyprus CEO, will move on this summer after restoring the bank to health – the latest, and toughest, of his repair jobs. |
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Best global investment bank The reinvention of Morgan StanleyUnder the leadership of James Gorman, Morgan Stanley has carved out a unique position in global banking. It remains a great investment bank. Its much-maligned FICC division now looks fit for purpose. And its US wealth management arm gives the firm new stability and strength. Most important of all, the disparate parts of a once-divided business are delivering the benefits of the whole firm. And the markets are starting to realize the potential of a new Morgan Stanley as well. |
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Regional and Country Awards for Excellence |
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For access to the results, subscribe online, or contact:
Patrick McCulloch,
t:+44 289 029 0402
e: patrick.mcculloch@euromoneyplc.com,
or our hotline at t: +44 (0)207 779 8166, hotline@euromoneyplc.com.