GlobalCapital Bond Awards 2020: the winners

GlobalCapital  has held its Bond Awards every year for the last 12 years but never like this. For the first time, we’re revealing the winners in a virtual ceremony in September rather than at our London awards dinner in May.
It is just one of the changes we have all had to get used to over the past six months — working remotely, often under difficult conditions; meeting by video; pitching, pricing and trading bonds without the physical infrastructure and personal touch that offices bring. 

But the primary debt capital markets’ response to the coronavirus crisis has been resilient and robust. Institutions all over the world from governments and multilateral development banks, to domestic lenders, to companies have raised vital financing to see them through this extraordinary period.

Central banks’ inflated quantitative easing programmes and relaxed capital regulations have helped them, while governments have created vast support programmes.  But the capital markets have answered the call for urgent help, facilitating fiscal spending and enabling QE programmes to keep the global economy from unthinkable consequences.

Many of you will know that we usually hold our Bond Awards in May every year, following a market poll that takes place in the first quarter. This year, we opened the poll in February as usual, but because of the coronavirus, we decided to delay things. It would been wrong to have the awards period culminate in March, just as a rare level of stress and huge uncertainty in capital markets was starting to peak.  

We therefore relaunched them to cover an extended period: March 2019 to June 2020. We invited the market to consider their peers’ performance over that whole duration. We also added a small number of awards to cover the extraordinary work brought about by the coronavirus, such as Best Bank for Funding Advice and Support During Covid-19 Pandemic.  

Apart from the additional categories, the relaunched poll was the same as the original one. Whether by luck or judgement, this was the right thing to do. By extending the voting period to the end of June, we captured the second quarter — a period of extraordinary turbulence and high volumes of issuance that will surely be seen as the salient part of the year — adding to the credibility and importance of this year’s awards.  

GlobalCapital's Bond Awards are unique. They are the only awards that recognise achievement in all the main segments of the international bond markets through a poll of market participants. They truly reflect the opinion of the market. 

The awards thus perform a valuable function, enabling the market to reflect on what worked and what did not in the past year, celebrating the most impressive performers. 

The basis of the poll is that issuers vote for the best investment banks, while banks vote for issuers. Other market participants such as investors, law firms and rating agencies can also vote for and receive awards. 

The awards cover supranational, sovereign and agency; financial institution; investment grade corporate and emerging market bonds. 

The principles of the poll are that people cannot not vote for themselves or their own institutions (except in the Most Valuable Player Awards). People vote on firms that they interact with, not their own competitors (except in the Most Valuable Player Awards and the Emerging Market Bank Awards, where banks are invited to vote for each other). There is one vote per institution in each category. There is to be no collusion or favours.

Frank Czichowski

Martin Egan

JP Morgan

2. Citigroup

3. HSBC

JP Morgan

2. Citigroup

3. HSBC

 

BMO Capital Markets

2. Nomura

3. NatWest Markets

Crédit Agricole

2. Citigroup

3. HSBC

Bank of America

2. Crédit Agricole

3=. Citigroup

3=. JP Morgan

JP Morgan

2. Citigroup

3=.  HSBC

3=. TD Securities

JP Morgan

2. HSBC

3. Bank of America

BNP Paribas

2. JP Morgan

3. TD Securities

TD Securities

2. RBC Capital Markets

3. BMO Capital Markets

Barclays

2. NatWest Markets

3. RBC Capital Markets

TD Securities

2. RBC Capital Markets

3. Danske Bank

RBC Capital Markets

2. BMO Capital Markets

3. TD Securities

Nomura

2. Daiwa Capital Markets

3. MUFG

Citigroup

2. JP Morgan

3. Bank of America

TD Securities

2. RBC Capital Markets

3. BMO Capital Markets

Ebba Wexler, Citigroup

2. Lee Cumbes, Barclays

3. François Planque, Bank of America

Keith Price, JP Morgan

2. Alex Barnes, Citigroup

3=. Lars Humble, Goldman Sachs

3=. Ben Adubi, Morgan Stanley

Alexander Malitsky, TD Securities

2.Jake Webster, Morgan Stanley

3. Tina Nguyen, JP Morgan

European Investment Bank

2. KfW

3. World Bank

European Investment Bank

2. World Bank

3. L-Bank

World Bank

2. Spain

3. Italy

African Development Bank

2. Nordic Investment Bank

3. Bpifrance

Italy

2. UK

3. Spain

European Investment Bank

2. Council of Europe Development Bank

3. Nordic Investment Bank

European Investment Bank

2. World Bank

3. ADB

KfW

2. OeKB

3. Rentenbank

BNG

2. Kommunalbanken

3. Agence Française de Développement

North Rhine-Westphalia

2. Quebec

3. Bavaria

World Bank

2. International Finance Corp

3. European Bank for Reconstruction and Development

European Investment Bank

2. European Bank for Reconstruction and Development

3. World Bank

Davide Iacovoni, Italy

2. Pablo de Rámon-Laca, Spain

3. Martin Duffell, UK

Sandeep Dhawan, EIB

2. Andrea Dore, World Bank

3. Maria Lomotan, Asian Development Bank

Bart van Dooren, BNG

2. Petra Wehlert, KfW

3. Otto Weyhausen-Brinkmann, KfW

Pimco

2. BlackRock

3. Standard Chartered Treasury

2. Allen & Overy

3. Sullivan & Cromwell

Tradeweb

2. Bloomberg

3. MTS

JP Morgan

2. Goldman Sachs

3. Morgan Stanley

Natixis

2. NatWest Markets

3. Barclays

BNP Paribas

2. Morgan Stanley

3. JP Morgan

JP Morgan

2. Goldman Sachs

3. Morgan Stanley

Goldman Sachs

2. HSBC

3. Morgan Stanley

JP Morgan

2. Goldman Sachs

3. Morgan Stanley

HSBC

2. NatWest Markets

3. Bank of America

HSBC

2. Credit Suisse

3. Crédit Agricole

JP Morgan

2. HSBC

3. UBS

JP Morgan

2. Goldman Sachs

Barclays

2. Citigroup

BNP Paribas

2. Deutsche Bank

3. JP Morgan

JP Morgan

2. Goldman Sachs

3. Bank of America

NatWest Markets

2. Barclays

3. HSBC

Nomura

2. Daiwa Securities

3. Mizuho

Nomura

2. Deutsche Bank

Amandine Gaujoux, HSBC

2. Howard Brocklehurst, Morgan Stanley

3. Chris Bond, BNP Paribas

Edward Markham, Goldman Sachs

2. Piers Ronan, Credit Suisse

3. Ade Ademakinwa, Deutsche Bank

Kenji Kinoshita, JP Morgan

2=. Ali Nauman, Santander

2=. Thomas Lowe, Nomura

Rabobank

2. Santander

3. Commerzbank

Nationwide Building Society

2. BBVA

3. Santander

SFIL

2. Lloyds Bank

3. BBVA

UniCredit

2. ING

3. Rabobank

Santander

2. Nordea

3. Rabobank

Alpha Bank

2. Caisse de Refinancement de l’Habitat

Lloyds Bank

2. Rabobank

3. Santander

Ger Buls, Rabobank

2. Peter Green, Lloyds Bank

3. Franz Josef Kaufmann, Commerzbank

Sietske De Bruine, ING

2. Jamie Adams, Santander UK

Pimco

2. BlackRock

3. BlueBay

S&P Global Ratings

2. Moody’s

3. Fitch

Allen & Overy

2. Linklaters

3. Clifford Chance

BNP Paribas

2. Barclays

3. Bank of America

UniCredit

2=. ING

2=. Mizuho

2=. SMBC

BNP Paribas

2. Barclays

3. NatWest Markets

BNP Paribas

2. Barclays

3. Société Générale

Bank of America

2. JP Morgan

3. Citigroup

Barclays

2. HSBC

3. NatWest Markets

JP Morgan 2. BNP Paribas

3=. Barclays

3=. HSBC

3=. Société Générale

Barclays

2. UniCredit

3=. Goldman Sachs

3=. Société Générale

Deutsche Bank

2. HSBC

3. Danske Bank

Bank of America

2=. Barclays

2=. NatWest Markets

Deutsche Bank

2. Citigroup

3. Bank of America

Bank of America

2. Barclays

3=. BNP Paribas

3=. Deutsche Bank

3=. HSBC

Bank of America

2. Barclays

3. BNP Paribas

Dominic Kerr, HSBC

2. Alex Wheal, HSBC

3. Paula Weisshuber, Bank of America

Janusz Nelson, Citigroup

2=. Angus Reynolds, Bank of America

2=. Souhail Mahjour, HSBC

Alex Hardman, Barclays

BP

2. LVMH

3. Daimler

Airbus

2. BP

3. Aéroports de Paris

Medtronic

2. AT&T

3. Danaher

Enel

2. Snam

3. Orsted

BP

2. Deutsche Bahn

3. Bayer

Wintershall DEA

2. Firmenich

3=. Schaeffler AG

3=. Signify

BMW

2. Toyota

3=. Daimler

3=. National Grid

3=. Volvo

BP

2. Shell

3=. Daimler

3=. Telefónica

3=. Vodafone

George Goeke, AT&T

2. Peter Zirwes, Daimler

3. Patrick Halpin, BP

Rothschild

2. Newbridge Advisors

BlackRock

2. Pimco

3=. Amundi

3=. APG

3=. Legal & General

S&P Global Ratings

2. Moody’s

3. Fitch

Linklaters

2=. Clifford Chance

2=. Allen & Overy

BNP Paribas

2. Standard Chartered

3. JP Morgan

Standard Chartered

2. HSBC

3. JP Morgan

BNP Paribas

2. JP Morgan

3. Citigroup

JP Morgan

2. VTB Capital

3. Citigroup

Santander

2. Citigroup

3. JP Morgan

Goldman Sachs

2. BNP Paribas

3. Natixis

PKO Bank Polski

2. Bank Pekao

3. Renaissance Capital

First Abu Dhabi Bank

2. Emirates NBD

3. Dubai Islamic Bank

Standard Bank

2. Absa

3=. First Rand

3=. Rand Merchant Bank

BNP Paribas

2=. JP Morgan

2=. Société Générale

3=. Standard Chartered

Standard Chartered

2. HSBC

3. First Abu Dhabi Bank

BNP Paribas

2. Société Générale

3. First Abu Dhabi Bank

Borys Matiash, BNP Paribas

2. Kirill Kondrashin, JP Morgan

3. Ali Ahmad, Standard Chartered

Alexander Karolev, BNP Paribas (to June 2020)

2. Nick Darrant, JP Morgan (to May 2020)

3. Hussain Zaidi, Standard Chartered

Mykola Kuzmenko, BNP Paribas

2. Boris Vladislavlev, JP Morgan

3. Talal Al Mudhaf, HSBC

Saudi Arabia

2. State Transport Leasing Co

3. Israel

Abu Dhabi

2. Israel

3. First Abu Dhabi Bank

Hungary

2. Romania

3. EP Infrastructure

State Transport Leasing Co

2. DTEK Renewables

3. Russia

Saudi Arabia

2. Qatar

3. Abu Dhabi

First Abu Dhabi Bank

2=. Emirates NBD

2=. Qatar National Bank

3. Riyad Bank

Saudi Aramco

2. Majid Al Futtaim

3. DP World

Ghana

2. Morocco

3. Africa Finance Corp

Mexico

2=. Chile

2=. Paraguay

3. Brazil

Banorte

2. Banco Itaú

3. Bancolombia

DTEK Renewables

2. Saudi Aramco

3. Sovcombank

Zoltán Kurali, Hungary

2. Yuriy Butsa, Ukraine

3. Marjan Divjak, Slovenia

Rula AlQadi, First Abu Dhabi Bank

2. Fahad Al-Saif, Saudi Arabia

3. Eman Abdelazim, Egypt

Abdelhakim Jouahri, Morocco

2. Charles Adu Boahen, Ghana

3. Banji Fehintola, Africa Finance Corp

S&P Global Ratings

2. Fitch

3. Moody’s

Linklaters

2. Clifford Chance

3. Allen & Overy

MarketAxess

2. Bloomberg

Tanguy Claquin, Crédit Agricole

2. Farnam Bidgoli, HSBC

3. Orith Azoulay, Natixis