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The US’s best bank 2023: JPMorgan

Good banks do not collapse in times of turmoil. But the best banks do more than that – they are so buttressed against stress that when it strikes, they not only emerge unscathed but can act decisively in support of the whole sector. JPMorgan was that bank in March 2023, able to play that role because of its consistently superior performance.

July 13, 2023

Awards for Excellence

The US’s best super-regional investment bank 2023: PNC Financial Services Group

The most striking thing about this year’s winner of the US best super-regional investment bank award is that PNC Financial Services Group prides itself on not really having an investment bank.

July 13, 2023

Awards for Excellence

North America’s best bank for wealth management 2023: Morgan Stanley

As the immediate chaos of the global financial crisis subsided, Morgan Stanley took a long hard look at its strategy and chose to focus on wealth and investment management. It is a decision that has paid off. Private banking generates steadier, more reliable income streams than the more cyclical business of investment banking.

July 13, 2023

Awards for Excellence

Canada’s best bank 2023: Bank of Montreal

Canada’s banking market remains as competitive as ever, but one bank stands out for the strong performance of its underlying businesses as well as for completing the standout strategic move of the period. Bank of Montreal (BMO) is Canada’s Best Bank.

July 13, 2023

Awards for Excellence

North America’s best bank for corporate responsibility 2023: TD Bank Group

All banks today claim to have inclusion, diversity, accessibility and sustainability programmes, but some stand out for the breadth of their initiatives. Under chief executive Bharat Masrani, Canada’s TD Bank Group is one that has made corporate responsibility a priority for years in its approach to customers, clients and employees.

July 13, 2023

Awards for Excellence

North America’s best bank for transaction services 2023: Citi

Citi’s transaction services bankers can be in no doubt of the firm’s commitment to their business. Chief executive Jane Fraser is on record calling the Treasury and Trade Solutions (TTS) division the crown jewel of the bank and she rarely misses an opportunity to refer to it. The bank invested $1 billion in technology for this business alone in 2022.

July 13, 2023

Awards for Excellence

The US’s best investment bank 2023: Morgan Stanley

Moribund primary equity capital markets and a rising interest rate environment meant that investment banks were tested more than ever in the past 12 months as they sought to give clients the options they needed in spite of poor conditions.

July 13, 2023

Awards for Excellence

Canada’s best investment bank 2023: RBC Capital Markets

Sometimes a franchise is suited to a moment. And in an awards period that began with the catastrophe unfolding in Ukraine, ended with a meltdown in US regional banking, and was accompanied throughout by eye-watering rate hikes, clients had no shortage of demands of their investment banks.

July 13, 2023

Awards for Excellence

North America’s best bank for advisory 2023: Goldman Sachs

The volume of completed M&A deals involving a North American buyer or target was steeply down in the awards period this year, with a 41% drop to just under $2 trillion. But in volatile times activity concentrates on the very best franchises, and this year demonstrated that well. For increasing its market share and strengthening its already dominant position, Goldman Sachs is North America’s best bank for advisory.

July 13, 2023

Awards for Excellence

The US’s best super-regional bank 2023: Citizens

Only the biggest and soundest of the US regional banks were able to come through the wreckage of March 2023 unbowed. None did so better than Citizens, a bank that was already consolidating two fine strategic moves at the start of the awards period and was able to consider another at its end. It wins the award for the country’s best super-regional bank.

July 13, 2023

Awards for Excellence

North America’s best bank for sustainable finance 2023: Bank of America

From the outside looking in, sustainable finance in North America seems to act much like a see-saw. Last year, news about the wave of anti-environmental, social and governance legislation coming from Republican states was immediately followed by $500 billion of financial incentives for clean energy and healthcare under the Inflation Reduction Act (IRA). This was then followed by concerns over gridlock when the Republicans took control of the House.

July 13, 2023

Awards for Excellence

North America’s best bank for SMEs 2023: Bank of America

Global macroeconomic turmoil might seem far from the day-to-day concerns of small and medium-sized enterprises, but those issues are getting ever closer to the heart of their business. Inflation, supply chains, labour shortages and commodity prices were just some of the challenges thrown up in the awards period.

July 13, 2023

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