UBS has demonstrated resilience and adaptability in the face of significant organizational changes and challenging market conditions, maintaining a strong focus on differentiated client service through consistent liquidity provision, competitive pricing and innovative content.

Citibanamex, with over 139 years of history in Mexico, is a leading player in the FX business. The bank offers FX services for a diverse set of currencies, including the MXN, USD and EUR. It is known for its ability to deliver complex FX solutions through an extensive product range such as FX spot, forwards, swaps and options, supported by a robust team of over 200 professionals and coverage across 1,280 branches.

NatWest Markets (NWM) treats its FX Prime Brokerage (FXPB) business as a distinct growth focus as opposed to an ancillary service, with significant investment in the business to ensure it can provide high-touch, high-service offerings. Combining the freedom of having a proprietary platform with an appetite for developing client solutions has resulted in a suite of solutions that are used for different client types. While most FXPB banks use the market standard FXPB agreement, NWM has developed six distinct FXPB models. These models can be combined to address a broad selection of client types ranging from prop traders through to agency brokers and FX platforms.

DBS is a leading financial services group in Asia, operating in 19 markets with headquarters in Singapore. The bank's dominant presence in Asia contributes to its competitive advantage in FX for client services, innovative digital solutions and as a leading data provider.

BBVA’s Latin America FX business is an integral part of BBVA’s global FX franchise, representing a large portion of its total FX revenues and FX global front office resources.

Banco Santander has seen the expansion and success of its FX business extend into Argentina over the review period. Significant developments include its developing non-deliverable forwards (NDF) currency solutions, enabling clients to trade Latam currencies offshore while maintaining onshore delivery. This expansion is driven by growing trade corridors between Asia and Latam and currency rebalancing trends.

Leveraging its prominent position as a facilitator of trade between Germany and frontier markets, Commerzbank has established a strong network of correspondent banks and institutional clients in these regions.

HSBC has established itself as a leader in the corporate foreign exchange space by continuously developing innovative solutions. The bank provides liquidity across a range of channels and has consistently ranked in the top three on external platforms with a heavy corporate presence.

If UniCredit is close to acquiring Commerzbank, it’s not just the result of a quick and crafty deal in the equities market. It comes after years of rebuilding the bank’s financial strength and reputation. Euromoney recalls how the Italian bank came back from the brink – ready to get into a position to buy Commerz.

HSBC has demonstrated robust growth and innovation. It expanded its wealth-management offerings and enhancing support for high-tech and green financing. Its local head is Daniel Chan.

At the beginning of 2024, Bank of China (Hong Kong) (BOCHK) rolled out several enhancements with Wealth Management Connect 2.0, including a 60% increase in available products, bringing the total to around 300 in the southbound connect. In addition, the bank also expanded the eligible product range in the northbound connect.

Standard Chartered launched its Wealth Management Connect (WMC) in 2021, with the bank delivering its 2.0 version in 2024. Enhancements to the platform include developments in the participating institutions, investors and investment product range that now better meet the diverse needs of investors in the Greater Bay Area.

China Merchants Bank (CMB) made good progress in its technological transformation. Its commitment to customer-centricity was evident through a range of impactful developments over the review period.

Standard Chartered is a long-established international bank in the Greater Bay Area, with a strong commitment to supporting small and medium-sized enterprises. Recognizing the growth of cross-border e-commerce in the GBA, the bank has partnered with Linklogis to offer an e-commerce financing solution that leverages real-time Amazon transaction data, providing up to $1 million in overdraft facilities without requiring bank statements or collateral.

Bank of China (Hong Kong) has demonstrated a strong focus on advancing cross-border financial innovation in the Greater Bay Area.

During Euromoney’s review period, EFG Hermes was a force to be reckoned with across the Gulf Cooperation Council region, running numerous high-profile transactions.

BTG Pactual Investment Bank wins Brazil’s best for equities award thanks to its outperformance during the review period.

Emirates NBD Capital (EmCap) was one of the most active DCM banks in the MENA region during Euromoney’s awards period.

QNB Financial Services (QNBFS) impressed on multiple fronts over the past year, making it Euromoney’s best securities house for Qatar in 2024.

Maybank Investment Bank’s research business is a formidable force in Malaysia, whether it is research tailored for retail clients or for institutional clients.

Large Singaporean conglomerates looking for restructuring, corporate financing, listing, take-private or networking advice will without a doubt turn to DBS and brokerage arm DBS Vickers for their credentials, wide pan-Asia reach and strong market knowledge.

CIMB Investment Bank is a force to be reckoned with in Malaysia. During Euromoney’s awards period, it led the way on both ECM and DCM – and with wide margins.

In the past year, OCBC Securities has made big headways on leveraging technology and digitalization to transform clients’ financial experience, becoming the natural choice for this Euromoney award.

What should a bank do when the prized, jumbo capital markets deals taper off? For Maybank Investment Bank, the move was to pivot to mid-market and small cap companies, identify their fundraising needs, and offer them the right solutions.

OCBC Securities, led by managing director Wilson He, is Singapore’s best securities house for 2024, gaining plaudits for evolving with the times, staying on top of client needs, thinking out of the box and – importantly – finding its niche and dominating that.

Standard Bank CIB played a pivotal role in several high-impact sustainable transactions across Africa in 2023, highlighting its commitment to innovation in green finance, infrastructure development and economic growth.

A big overhaul at DBS early this year is ushering in change. In March, the firm merged its equity capital markets business, brokerage arm DBS Vickers and DBS Digital Exchange with its existing treasury markets unit – a move bankers say will streamline operations across these products and fuel more collaboration.

FAB takes the Euromoney award for best securities house in the UAE for its prowess across asset classes, and its commitment to environmental, social and governance deals.

Itaú BBA takes the top Euromoney award for Brazil for its dominance across the bond, M&A and equity capital markets, and its versatility in deals.

Former credit trader Shikha Gupta discovers that a verbal contract isn’t worth the paper it is written on.