The annual Euromoney Awards for Excellence are a crucial benchmark of the global banking industry. Now in their 13th year, the awards recognize the finest banks across the world in a range of disciplines, including debt, M&A, equity, cash management and much more.

Last month, Euromoney reported on the challenges facing CSFB CEO John Mack in rebuilding the firm's global investment banking franchise after three years' cost-cutting and damage limitation. Other banks' earnings and share prices had powered ahead. Mack had unveiled plans to double profits in three years. He won't be around to see them through. Late last month he was pushed out. What happened?

CEO, Via Capital

Managing director, Citigroup Private Bank Peter White confesses to having no financial background and very little financial knowledge. Yet for the past four-and-a-half years, he has been managing director of Citigroup Private Bank’s family advisory practice. Thankfully, his role there is completely non-financial in nature.

Pan-African coverage moves closer for Celtel with a deal that raises the possibility of further debt financing.

The development of instruments that match investors' views on defaults, recovery rates and correlations with leverage and return targets represents a fundamental change in fixed-income investing. However, to take advantage of these opportunities, investors need new infrastructure and new risk-management skills.