Awards for Excellence 2016
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Also shortlisted: |
HSBC |
Goldman Sachs |
Morgan Stanley |
UBS |
He may have been talking his own book, but it is hard to disagree with Peter Babej’s assessment of his bank’s performance in raising money for and advising financial institutions over the past 12 months.
“Citi is unique globally,” says the bank’s global co-head of financial institutions. “We have some very strong competition in FIG M&A and equity and perhaps less strong competition in FIG DCM. Other firms have a strong network but not the M&A expertise, while others have a broad product offering but smaller geographical footprint.”
Citi had a banner year in FIG equities, leading the largest IPO of 2015 for First Data at a time when other large IPOs were being withdrawn due to volatility. It was also on the first core IPO of 2016 for BATS, Credit Suisse’s rights issue and the landmark Chinese asset manager IPO of the year for Huarong Asset Management.
While broader market volatility has hit the post-IPO share performance of First Data, getting the deal done is a testament to the strong relationship between Citi and its client.