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Citi has promoted Tom King to a new position of head of EMEA banking. His role encompasses investment banking and the corporate and commercial bank. He will also oversee the newly created capital markets origination group for the region.

HSBC

The tricky completion of a triple merger in 2007 failed to dim the financial performance of UniCredit Bulbank, which was the number one bank in Bulgaria as measured by assets, loans and profits last year. With more than a million customers, the new entity is the leading universal bank in Bulgaria, with strong positions in corporate, investment and retail banking. The overall strength of the franchise was recognized by Standard & Poor’s last year, when it reaffirmed its BBB+ credit rating – the highest for any bank in Bulgaria. Despite the demands of merging Bulbank, HVB Bank and Hebros Bank, the new improved UniCredit Bulbank outperformed the rest of the banking sector, with net income rising by 25% and operating profit by 89.9%. Total assets grew by 21.1% to reach Lev9.06 billion ($7.2 billion) by year end 2007.

In February, Westpac gained a new chief executive, the much-admired Gail Kelly, who had transformed St George Bank from a second-tier bank to a powerful and genuine alternative to Australia’s big four. She wasted little time in embarking on a transformational strategy, confirming in May that her new bank was in talks with her old one to merge and create Australia’s biggest financial services group.

Brazilian mining company Vale announced on June 12 that it had requested permission to issue $14 billion in shares to raise cash for acquisitions and growth. Vale, the world’s largest producer of iron ore, has filed with the Brazilian securities and exchange commission to sell an unspecified number of common and preferred class-A shares in Brazil and abroad, as well as US traded ADRs. In a statement the company said the money would help fund a $59 billion investment plan.

The winner of the best bank in Mexico is the fifth-largest bank in the market but it stands out from the crowd. As the country’s largest non-foreign owned bank, the aptly named "strong bank of Mexico", leads the market in terms of innovation. Banorte has opened the eyes of its competitors to the securitization market, the booming agribusiness markets and the mortgage origination market.

Barclays can normally expect to feature more than once in our African banking awards. So it is unusual that this year its only award is in Zambia. It is a place that the bank knows well, having been there for nearly 100 years. There are many new banks operating in Africa, but none so far in Zambia that impresses as much as Barclays. It continues to expand its branches and operations, with more than 70 offices and 1,200 staff. The liberalization of Zambia’s trade and exchange rate has increased opportunities – but also competition.

Goldman Sachs

"It is a lot more difficult to raise money than people think"

A survey by AIMA Australia reveals that almost 70% of superfunds – Australia’s pension funds – intend to increase allocations to hedge funds by nearly 90% over the next two to five years. AIMA surveyed superfunds with more than $100 billion in combined assets.

Millennium BIM was born from a strategic partnership between the Mozambican government and Banco Commercial Português. It is part of the Millennium BCP group, which has branches in Portugal, Angola, China, Macau, Poland, Turkey and the US. It has the lion’s share of the Mozambique banking market, with more than 500,000 clients and a market share of 40%. Net income in 2007 reached MT1.4 billion ($60 million), up nearly 37% from 2006. Millennium BIM has nearly 100 branches throughout the country. A private institution, it has equity investors salivating at the thought of when it might launch an IPO.

Santander has been working its magic on Abbey since it acquired the underperforming mortgage bank in 2004, and today the transformation into gutsy competitor to the biggest names in UK banking is complete.