JP Morgan scooped the top awards for SSA and emerging market bonds, while Deutsche Bank excelled in FIG and Bank of America Merrill Lynch in corporate bonds.
KfW won the best SSA funding team and Spain the best sovereign team, while Martin Duffell of the UK took the individual sovereign funding official Award. Siegfried Ruhl of the European Stability Mechanism and Otto Weyhausen-Brinkmann of KfW shone in the funding official stakes, while the European Investment Bank took best supranational in euros.
Among private sector issuers, Nordea, Volkswagen and Akbank scooped prizes. The full results are below.
As in previous years, the Awards are entirely the result of a poll of market participants, and as such reflect the opinion of the market. GlobalCapital congratulates all the winners and nominees, and thanks all who voted in our poll.
Supranational, Sovereign and Agency Bonds
Investment Banks
Overall Most Impressive Bank of the Year for SSAs
JP Morgan
2 BNP Paribas
3 Bank of America Merrill Lynch
Coming Force in SSA Bonds
BMO Capital Markets
2 NatWest Markets
3= Nomura
3= TD Securities
Most Impressive SSA Debt Capital Markets Team
Barclays
2 TD Securities
3 Nomura
Most Impressive Syndicate Team for SSAs
JP Morgan
2 HSBC
3 Bank of America Merrill Lynch
Most Impressive Research House for SSA Bonds
JP Morgan
2 Barclays
3 Citigroup
Most Impressive MTN Dealer for SSAs
JP Morgan
2 Bank of America Merrill Lynch
3 Citigroup
Most Impressive Structured MTN Dealer
JP Morgan
2= Citigroup
2= Nomura
Most Impressive Uridashi Dealer for SSAs
Nomura
2 JP Morgan
3 Daiwa Securities
Most Impressive SSA House in Euros
JP Morgan
2 BNP Paribas
3 Crédit Agricole
Most Impressive SSA House in Dollars
JP Morgan
2 TD Securities
3 Bank of America Merrill Lynch
Most Impressive SSA House in Sterling
Barclays
2 HSBC
3= NatWest Markets
3= RBC Capital Markets
Most Impressive SSA House in Australian, Canadian and New Zealand Dollars
TD Securities
2 RBC Capital Markets
3 ANZ
Most Impressive SSA House in Emerging Market Currencies
JP Morgan
2= Citigroup
2= Nomura
Most Impressive SSA Origination Banker
Lee Cumbes, Barclays
2 John Lee-Tin, JP Morgan
3= Alice Goddard, TD Securities
3= Mark Yeomans, Nomura
Most Impressive SSA Syndicate Banker
Adrien de Naurois, Bank of America Merrill Lynch
2 Lars Humble, Goldman Sachs
3 Keith Price, JP Morgan
Rising Star SSA Banker
James Taunton, RBC Capital Markets
2= Ben Adubi, Morgan Stanley
2= Kamini Sumra, Bank of America Merrill Lynch
2= Jake Webster, Morgan Stanley
2= Lindsay Wortzman, BMO Capital Markets
Investment Banks – Attributes
Best for Giving Timely and Consistent Updates on SSA Market Developments
Barclays
2 JP Morgan
3 TD Securities
Best for Depth and Quality of Experience in Difficult SSA Bond Markets
JP Morgan
2 Goldman Sachs
3 Bank of America Merrill Lynch
Best for Creative and Useful SSA Funding Ideas
Nomura
2 JP Morgan
3 Citigroup
Most Willing to Extend Balance Sheet to SSA Borrowers
JP Morgan
2 Bank of America Merrill Lynch
3 TD Securities
Best for Bringing New Investors into SSA Bond Deals
JP Morgan
2 TD Securities
3 Goldman Sachs
Best for SSA Sales Expertise
JP Morgan
2 Barclays
3 Goldman Sachs
Best for SSA Swaps and Other Derivatives
JP Morgan
2 BNP Paribas
3 Citigroup
Best Provider of Secondary Liquidity for SSA Bonds
JP Morgan
2 BNP Paribas
3 HSBC
Best for Embracing Technology in SSA Bond New Issues
Deutsche Bank
2 BNP Paribas
3 Commerzbank
Issuers
Overall Most Impressive SSA Funding Team
KfW
2 European Stability Mechanism/European Financial Stability Facility
3 European Investment Bank
Most Impressive Sovereign Funding Team
Kingdom of Spain
2 United Kingdom
3 Kingdom of Sweden
Most Impressive Supranational Funding Team in Euros
European Investment Bank
2 European Stability Mechanism/European Financial Stability Facility
3 European Union
Most Impressive Supranational Funding Team in Dollars
World Bank
2= Asian Development Bank
2= European Investment Bank
Most Impressive Agency Funding Team — Explicit Government Guarantee
KfW
2 Rentenbank
3 FMS Wertmanagement
Most Impressive Agency Funding Team — Implicit Government Guarantee
Bank Nederlandse Gemeenten
2 Kommunalbanken
3 KommuneKredit
Most Impressive State, Regional or Municipal Funding Team
State of North Rhine-Westphalia
2 Province of Ontario
3 Province of Quebec
Overall Most Impressive SSA Funding Official
Siegfried Ruhl, ESM
2 Otto Weyhausen-Brinkmann, KfW
3 Maria Lomotan, ADB
Most Impressive Sovereign Funding Official
Martin Duffell, UK
2 Pablo de Ramón-Laca Clausen, Spain
3 Anne Leclercq, Belgium
Most Impressive Supranational Funding Official
Siegfried Ruhl, ESM
2 Maria Lomotan, ADB
3 Andrea Dore, World Bank
Most Impressive Agency Funding Official — Explicit Government Guarantee
Otto Weyhausen-Brinkmann, KfW
2 Leopold Olma, Rentenbank
3 Petra Wehlert, KfW
Most Impressive Agency Funding Official — Implicit Government Guarantee
Bart van Dooren, BNG
2= Thomas Møller, KBN
2= Lasse Vest, KommuneKredit
Best Issuer at Breaking New Investor Bases
World Bank
2 European Investment Bank
3= Canada Pension Plan Investment Board
3= ESM/EFSF
Best Issuer at Investor Relations
World Bank
2 ESM/EFSF
3 L-Bank
Most Impressive SSA MTN Issuer
World Bank
2 International Finance Corp
3 Kommunalbanken
Most Impressive SSA Structured MTN Issuer
World Bank
2 International Finance Corp
3 European Investment Bank
Most Innovative SSA MTN Issuer
International Finance Corp
2 World Bank
3 European Investment Bank
Best SSA Issuer in Italy and Iberia
Instituto de Crédito Oficial
2 Kingdom of Spain
3 Italian Republic
Best SSA Issuer in France and the Benelux
French Republic
2 Dexia Crédit Local
3 Kingdom of Belgium
Best SSA Issuer in the UK and Ireland
United Kingdom
2 Ireland
3 Bank of England
Best SSA Issuer in Germany, Austria and Switzerland
KfW
2 Rentenbank
3 Oesterreichische Kontrollbank
Best SSA Issuer in the Nordic Region
Kommunalbanken
2 KommuneKredit
3 Nordic Investment Bank
Other Market Participants
Best Investment Firm for SSA Bonds
Amundi
2 BlackRock
3 Pimco
Best Rating Agency for SSA Bonds
S&P Global
2 Moody’s
3 Fitch
Best Law Firm for SSA Bonds
Allen & Overy
2 Sullivan & Cromwell
3 Clifford Chance
Financial Institution bonds
Investment Banks
Overall Most Impressive Bank of the Year for Financial Institutions
Deutsche Bank
2 HSBC
3 UBS
Coming Force in FIG Bonds
TD Securities
2 Santander
3 NatWest Markets
Most Impressive FIG Debt Capital Markets Team
Goldman Sachs
2 UBS
3= Deutsche Bank
3= JP Morgan
Most Impressive Syndicate Team for Financial Institutions
Goldman Sachs
2 UBS
3 JP Morgan
Most Impressive FIG Sales and Trading Team
Citigroup
2 UBS
3 Morgan Stanley
Most Impressive Research House for FIG Bonds
JP Morgan
2 Citigroup
3 Morgan Stanley
Most Impressive Bank for FIG AT1 Capital
UBS
2 Deutsche Bank
3 Morgan Stanley
Most Impressive Bank for FIG Tier Two Capital
BNP Paribas
2 UBS
3 Deutsche Bank
Most Impressive Bank for FIG Senior Unsecured Debt
HSBC
2 Deutsche Bank
3 JP Morgan
Most Impressive Bank for Insurance Debt
HSBC
2 UBS
3 Deutsche Bank
Most Impressive Bank for FIG Regulatory Advice
BNP Paribas
2 JP Morgan
3 UBS
Most Impressive Bank for FIG Liability Management
Bank of America Merrill Lynch
2 Deutsche Bank
3 Citigroup
Most Impressive Debt Advisory House for Financial Institutions
UBS
2= Deutsche Bank
2= HSBC
4 JP Morgan
Most Impressive MTN Dealer for Financial Institutions
HSBC
2 Deutsche Bank
3 Barclays
Most Impressive FIG House in Euros
Deutsche Bank
2 BNP Paribas
3= HSBC
3= UBS
Most Impressive FIG House in Dollars
Citigroup
2 JP Morgan
3 Goldman Sachs
Most Impressive FIG House in Sterling
HSBC
2 Nomura
3 NatWest Markets
Most Impressive FIG House in Yen
Nomura
2 Daiwa Securities
3 SMBC Nikko
Most Impressive FIG House in Niche Currencies
UBS
2 Credit Suisse
3 Nomura
Most Impressive FIG Origination Banker
David Sismey, Goldman Sachs
2 Tommy Paxeus, Deutsche Bank
3 Kiran Karia, JP Morgan
Most Impressive FIG Syndicate Banker
Armin Peter, UBS
2 Christopher Agathangelou, NatWest Markets
3 Edward Markham, Goldman Sachs
Rising Star FIG Banker
Ben Williams, Morgan Stanley
2 Annemarie Coldeweijer, Santander
3 Rasmus Persson, Goldman Sachs
Investment Banks – Attributes
Best for Giving Timely and Consistent Updates on FIG Market Developments
HSBC
2= Deutsche Bank
2= JP Morgan
4 Citigroup
Best for Information on FIG Investor Trends
Bank of America Merrill Lynch
2 UBS
3 HSBC
Best for Depth and Quality of Experience in Difficult FIG Markets
Deutsche Bank
2 UBS
3 JP Morgan
Best for Creative and Useful FIG Funding Ideas
Deutsche Bank
2 BNP Paribas
3 HSBC
Best for Unbiased Advice to FIG Borrowers
Citigroup
2 Deutsche Bank
3= JP Morgan
3= UBS
Most Willing to Extend Balance Sheet to FIG Borrowers
HSBC
2 Deutsche Bank
3 UBS
Best for Investor Education and Diversification in FIG Bond Deals
HSBC
2 Nomura
3 Citigroup
Best for FIG Sales Expertise
UBS
2 Citigroup
3 Deutsche Bank
Best for FIG Swaps and Other Derivatives
NatWest Markets
2 Barclays
3= Deutsche Bank
3= JP Morgan
Best Provider of Secondary Liquidity for FIG Bonds
Deutsche Bank
2 JP Morgan
3 HSBC
Best for Embracing Technology in FIG Bond New Issues
Deutsche Bank
2 Bank of America Merrill Lynch
3 HSBC
Bank Most Likely to Win Repeat FIG Bond Mandates
UBS
2 HSBC
3 Bank of America Merrill Lynch
Issuers
Most Impressive Financial Institution Borrower
Nordea
2 Nationwide Building Society
3 Lloyds Bank
Most Innovative FIG Borrower
Crédit Agricole
2 Nationwide Building Society
3 Swiss Re
Most Impressive FIG Issuer of Capital
HSBC
2 Santander
3 ING
Most Impressive FIG Issuer of Senior Unsecured Debt
Lloyds Bank
2 Santander
3 UniCredit
Most Impressive Debut or Return FIG Issuer
Banca Monte dei Paschi di Siena
2 Allied Irish Banks
3 Bank of Ireland
Most Impressive FIG Issuer for Liability Management
Nationwide Building Society
2 Nordea
3 Crédit Agricole
Most Impressive FIG MTN Issuer
Santander
2 Commonwealth Bank of Australia
3 DNB
Most Innovative FIG MTN Issuer
Santander
2 Rabobank
3 Commonwealth Bank of Australia
Most Impressive FIG Structured MTN Issuer
Commonwealth Bank of Australia
2= BNP Paribas
2= Société Générale
Most Impressive FIG Funding Official
Peter Green, Lloyds Bank
2 Alex Wall, Nationwide
3 Antonio Toro, Santander
Rising Star FIG Funding Official
Aurélien Harff, Crédit Agricole
2 Carly Thomas, Nationwide
3 Martin McKinney, Santander UK
Other Market Participants
Best Investment Firm for FIG Bonds
BlueBay Asset Management
2 Pimco
3 BlackRock
Best Rating Agency for FIG Bonds
Moody’s
2 S&P Global
3 Fitch
Best Law Firm for FIG Bonds
Allen & Overy
2 Linklaters
3 Clifford Chance
Best Investment Professional for FIG Bonds
James Macdonald, BlueBay
2 Marc Stacey, BlueBay
3 Matthieu Loriferne, Pimco
CORPORATE BONDS
Investment Banks
Overall Most Impressive Bank of the Year for Corporate Borrowers
Bank of America Merrill Lynch
2 BNP Paribas
3 Société Générale
Coming Force in Corporate Bonds
Mizuho
2 RBC Capital Markets
3 ING
Most Impressive Corporate Debt Capital Markets Team
Bank of America Merrill Lynch
2= BNP Paribas
2= HSBC
Most Impressive Corporate Syndicate Team
Bank of America Merrill Lynch
2 BNP Paribas
3 Société Générale
Most Impressive Corporate Sales and Trading Team
Bank of America Merrill Lynch
2 BNP Paribas
3 HSBC
Most Impressive Research House for Corporate Bonds
Bank of America Merrill Lynch, JP Morgan, UniCredit (joint winners)
Most Impressive Bank for Corporate Hybrid Capital
HSBC
2 BNP Paribas
3 JP Morgan
Most Impressive Bank for Corporate Liability Management
Bank of America Merrill Lynch
2 JP Morgan
3 Société Générale
Most Impressive MTN Dealer for Corporate Borrowers
Société Générale
2 JP Morgan
3= ABN Amro
3= Barclays
Most Impressive Structured MTN Dealer for Corporate Borrowers
JP Morgan
2 Société Générale
3= ABN Amro
3= Barclays
Most Impressive Corporate Bond House in Euros
BNP Paribas
2= Bank of America Merrill Lynch
2= HSBC
Most Impressive Corporate Bond House in Dollars
Bank of America Merrill Lynch
2 JP Morgan
3 Citigroup
Most Impressive Corporate Bond House in Sterling
Barclays
2 HSBC
3 NatWest Markets
Most Impressive Corporate Bond House in Yen
SMBC Nikko
2 Mizuho
3 MUFG
Most Impressive Corporate Bond House in Swiss Francs
Credit Suisse
2 UBS
3 Commerzbank
Most Impressive Corporate Bond House in Niche Currencies
HSBC
2 Credit Suisse
3= ANZ
3= Morgan Stanley
Most Impressive Corporate Bond House in Nordic Currencies
Danske Bank
2 SEB
3 DNB
Most Impressive Corporate Origination Banker
Mark Kitchen, Bank of America Merrill Lynch
2 Ben Broad, HSBC
3 Andrew Menzies, Société Générale
Most Impressive Corporate Syndicate Banker
Fred Zorzi, BNP Paribas
2 Angus Reynolds, Bank of America Merrill Lynch
3 Duane Elgey, Société Générale
Rising Star Corporate Bond Banker
Janusz Nelson, Citigroup
2 Jodie Angus, BNP Paribas
Investment Banks – Attributes
Best for Giving Timely and Consistent Updates on Corporate Bond Market Developments
Bank of America Merrill Lynch
2 BNP Paribas
3 Société Générale
Best for Depth and Quality of Experience in Difficult Corporate Bond Markets
Bank of America Merrill Lynch
2= HSBC
2= JP Morgan
Best for Creative and Useful Corporate Funding Ideas
Société Générale
2 Bank of America Merrill Lynch
3 Citigroup
Best for Unbiased Advice to Corporate Borrowers
Bank of America Merrill Lynch
2= BNP Paribas
2= HSBC
Boldest in Securing the Best Pricing for Corporate Issuers
Bank of America Merrill Lynch
2= Goldman Sachs
2= JP Morgan
Most Willing to Extend Balance Sheet to Corporate Borrowers
Société Générale
2= BNP Paribas
2= Crédit Agricole
Best for Bringing New Investors into Corporate Bond Deals
Goldman Sachs
2= BNP Paribas
2= HSBC
Best for Corporate Swaps and Other Derivatives
HSBC
2= Bank of America Merrill Lynch
2= JP Morgan
Best Provider of Secondary Liquidity for Corporate Bonds
Bank of America Merrill Lynch
2 NatWest Markets
3= Barclays
3= JP Morgan
Best for Embracing Technology in Corporate Bond New Issues
Bank of America Merrill Lynch
2 Credit Suisse
3 BNP Paribas
Bank Most Likely to Win Repeat Corporate Bond Mandates
BNP Paribas
2 Bank of America Merrill Lynch
3 HSBC
Issuers
Most Impressive Investment Grade Corporate Borrower
Volkswagen
2 Sanofi
3 Unilever
Most Innovative Investment Grade Corporate Borrower
Aroundtown, Danone (joint winners)
3 Telefónica
Most Impressive Corporate Hybrid Capital Issuer
Telefónica
2 Volkswagen
3 Engie
Most Impressive Non-European Corporate Borrower in European Currencies
General Electric
2 AT&T
3 Verizon Communications
Most Impressive Debut Corporate Bond Issuer
Richemont
2 Co-entreprise de Transport d'Electricité
3= Tank & Rast
3= Ubisoft
Most Impressive Unrated Corporate Bond Issuer
Fromageries Bel
2 Ubisoft
3 Ferrari
Most Impressive Corporate MTN Issuer
Daimler
2 BMW
3= Aroundtown
3= Vodafone
Most Impressive Corporate Structured MTN Issuer
Toyota Motor Credit Corp
2= General Electric
2= RCI Banque
Most Innovative Corporate MTN Issuer
Aroundtown
2 Vodafone
3 United Utilities
Most Impressive Investment Grade Corporate Funding Team
Volkswagen
2 Daimler
3 Telefónica
Most Impressive Investment Grade Corporate Funding Official
Kai Otto, Volkswagen
2 Eduardo Álvarez Gómez, Telefónica
3= Volker Lach, Daimler
3= Neil Wadey, British American Tobacco
Other Market Participants
Best Investment Firm for Corporate Bonds
BlackRock
2 Amundi
3 DWS
Best Rating Agency for Investment Grade Corporate Bonds
Moody’s
2 S&P Global
3 Fitch
Best Law Firm for Corporate Bonds
Linklaters
2 Clifford Chance
3 Allen & Overy
Most Impressive Debt Advisory House for Corporate Borrowers
Rothschild
2 Société Générale
3 BNP Paribas
Best Investment Professional for Corporate Bonds
Robert Barnard-Smith, Legal & General
2 Jennie White, BlackRock
3 Oscar Jansen, APG
Emerging Market Bonds
Investment Banks
Overall Most Impressive Bank of the Year for Emerging Markets
JP Morgan
2 Citigroup
3 HSBC
Coming Force in Emerging Market Bonds
Société Générale
2 Mizuho
3 MUFG
Most Impressive Emerging Markets Debt Capital Markets Team
JP Morgan
2 Citigroup
3 BNP Paribas
Most Impressive Syndicate Team for Emerging Markets
JP Morgan
2 Citigroup
3 Goldman Sachs
Most Impressive Sales and Trading Team for Emerging Markets
JP Morgan
2 Renaissance Capital
3 Citigroup
Most Impressive Research House for Emerging Market Bonds
JP Morgan
2 Citigroup
3 Société Générale
Most Impressive CEEMEA Bond Bank of the Year
JP Morgan
2 Citigroup
3 HSBC
Most Impressive Debt Advisory House for Emerging Market Borrowers
BNP Paribas
2 JP Morgan
3= Bank of America Merrill Lynch
3= UBS
Most Impressive Emerging Markets MTN Dealer
Société Générale
2= Citigroup
2= HSBC
2= UBS
Most Impressive Emerging Markets Structured MTN Dealer
Société Générale
2= HSBC
2= UBS
Most Impressive Emerging Markets Origination Banker
Kirill Kondrashin, JP Morgan
2 Kirill Dikijs, formerly BNP Paribas
3 Dmitry Gladkov, Renaissance Capital
Most Impressive Emerging Markets Syndicate Banker
Nick Darrant, JP Morgan
2 Peter Charles, Citigroup
3= Alex Karolev, BNP Paribas
3= Neil Slee, Goldman Sachs
Rising Star Emerging Markets Banker
Boris Vladislavlev, JP Morgan
2= Aurelia Bes, Standard Chartered
2= Konstantin Derkatschew, Renaissance Capital
Investment Banks – Attributes
Best for Giving Timely and Consistent Updates on EM Bond Market Developments
JP Morgan
2 Citigroup
3 HSBC
Best for Depth and Quality of Experience in Difficult EM Bond Markets
JP Morgan
2 UBS
3 HSBC
Best for Creative and Useful EM Funding Ideas
JP Morgan
2 Citigroup
3 BNP Paribas
Best for Unbiased Advice to EM Borrowers
JP Morgan
2 HSBC
3 Citigroup
Boldest in Securing the Best Pricing for EM Bond Issuers
JP Morgan
2 BNP Paribas
3= Bank of America Merrill Lynch
3= Société Générale
Most Willing to Extend Balance Sheet to EM Borrowers
HSBC
2 Citigroup
3 VTB Capital
Best Provider of Hard-Underwritten EM Bond Deals
HSBC
2= Citigroup
2= Emirates NBD
2= Sberbank
Best for EM Swaps and Other Derivatives
VTB Capital
2= Citigroup
2= ING
Best Provider of Secondary Liquidity for EM Bonds
JP Morgan
2 Citigroup
3 BNP Paribas
Most Innovative EM Bond Bank
JP Morgan
2 HSBC
3 Goldman Sachs
Bank Most Likely to Win Repeat EM Bond Mandates
JP Morgan
2 Citigroup
3 HSBC
Issuers
Most Impressive Borrower in Central and Eastern Europe
Republic of Turkey
2 Republic of Slovenia
3 Russian Railways
Most Impressive Borrower in Africa
Federal Republic of Nigeria
2 Republic of Côte d'Ivoire
3 Republic of Ghana
Most Impressive Borrower in the Middle East
Kingdom of Saudi Arabia
2 Arab Republic of Egypt
3 Emirate of Abu Dhabi
Most Impressive Financial Institution Borrower in Emerging Markets
Akbank
2 VakıfBank
3 First Abu Dhabi Bank
Most Impressive Corporate Borrower in Emerging Markets
Pemex
2 Russian Railways
3 Norilsk Nickel
Most Impressive Debut Issuer in Emerging Markets
Eurotorg
2= Petkim
2= Liquid Telecom
2= Abu Dhabi Crude Oil Pipeline
Most Impressive Emerging Markets MTN Issuer
Qatar National Bank
2 Akbank
3 Republic of Poland
Most Impressive CEEMEA Funding Official
Zeynep Boğa, Republic of Turkey
2= Fahad Al Saif, Saudi Arabia
2= Adnan Balushi, Oman
2= Mustafa Turan, VakıfBank
Other Market Participants
Best Investment Firm for Emerging Market Bonds
BNP Paribas Asset Management
2 Marathon Asset Management
3 Finisterre Capital
Best Rating Agency for Emerging Market Bonds
S&P Global
2 Fitch
3 Moody’s
Best Law Firm for Emerging Market Bonds
Linklaters
2 Allen & Overy
3 Latham & Watkins
Best Investment Professional for Emerging Market Bonds
Matthieu Loriferne, Pimco
2 Amanda Gray, BlueBay Asset Management
3 Christopher Watson, Finisterre Capital
