Best emerging markets investment bank:
Citi
| Also shortlisted: Bank of America Merrill Lynch Deutsche Bank Goldman Sachs |
| View more 2014 awards |
ECM fee compression, modest M&A volumes in the second half of last year and the fact that DCM – the only asset class where the share of wallet has outpaced 2007-era levels – remains a low margin business, have all added to the earnings challenge for investment banks in EM.
Against this backdrop, Citi remains the undisputed emerging market investment banking champion with a strong advisory and origination business across the world, backed by its status as a market leading trader with a diverse global corporate banking presence.
Citi, over the past year, has led some of the largest, most innovative and important transactions across the world, buoyed by European bank retrenchment and, like HSBC, thanks to efforts to maximize the wallet share of corporate clients through more effectively connecting its corporate banking franchise to capital financing.
In a volatile period for dealflow, Citi’s sheer sprawl across geographies and across products stood it in good stead.