World's best investment bank in the emerging markets: Citi

Also shortlisted:

Bank of America Merrill Lynch

HSBC

Goldman Sachs

View full 2016 results

It has been another difficult year for investment banking in the emerging markets, with volatile deal-flow and the economic stresses of Brazil’s crisis, the slowdown in China, the de facto closure of Russian public markets and the Middle East’s disorderly adjustment to low oil prices. And yet despite the departure of many European banks, investment banking from Asia to Latin America remains hotly contested.

In this challenging environment, Citi has continued to impress clients and rivals. Over the past year, it maintained its market-leading franchise across products, supported by its large-scale sales and trading operation, strong balance sheet and on-the-ground presence. Over the awards period, Citi demonstrated creativity, repeat business and long-term relationships in fixed income, equity and M&A.

Citi played a leading role in many of the most important transactions in the emerging markets.

It advised Naspers on its $1.2 billion acquisition of a 50.5% stake in Russia’s Avito, in one of the largest technology transactions in EEMEA.