Awards for Excellence 2005
Deutsche Bank
The leader in bond underwriting league tables has improved its offering for financial institutions
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| Hope Pascucci |
"To be successful in this business you do have to constantly reinvent yourself," claims Hope Pascucci, global head of debt capital markets and syndicate at Deutsche Bank. Pascucci makes a convincing case that Deutsche has been the driving force or had a key involvement in many of the major innovations and themes of the past year in the global debt markets.
Investors' willingness to go down the capital structure and yield curve was part of a wider global trend of accepting greater complexity in order to achieve yield. Deutsche was part of that and, on the other side of the equation, where bank borrowers were keen to take historically cheap funding by offering tier 1 subordinated long-dated bonds or structured notes, cash-rich corporates were tidying up balance sheets while sovereigns continued to seek new and traditional ways to bolster their fiscal positions.
"In the past we have been criticized for having a stunning sovereign, supra and corporates business but our FIG business was not on the same level.