Network effect: Building on its globe-spanning corporate bank and a reorganisation that combined that unit with investment banking and capital markets, Citigroup made meaningful progress in 2019. In what was a down market for many, it moved up the league tables, increased market and wallet share, and added a host of star bankers to its ranks. Citigroup is IFR’s Bank of the Year.
Managing the headwinds: Few G-SIBs have as tough a task in getting their message across to investors as Standard Chartered. It faces challenges from several angles, be they from regulators, the markets in which it operates and dramatic threats, such as Brexit or the US-China trade dispute. For its ability to overcome these headwinds, Standard Chartered is IFR's Financial Issuer of the Year.
Sitting pretty: Some things have been the way they are for so long they seem to constitute the natural order. Such is the case with BNP Paribas’ top position in the euro bond market. But far from succumbing to complacency, the bank works tirelessly to ensure this remains the case. BNP Paribas is IFR’s Euro Bond House of the Year.
Going long: While maintaining a top of the table market share, one bank was able to bring structural developments to the ABS programmes of core issuers that deepened their market access and satisfied investor demand for longer-dated paper. For these reasons, Citigroup is IFR’s North America ABS House of the Year.
Lighting the path: The Middle East is by far the biggest component of the emerging EMEA bond market. But it's not just a region of jumbo deals. There are plenty of issuers with much smaller needs that require banks' advice and care. For its ability to straddle all sectors, Standard Chartered is IFR's Middle East Bond House of the Year.
Bucking the trend: A combination of declining client volumes and a market slump in late 2018 have weighed on banks’ equity derivatives desks over the past 12 months. For growing its business in this challenging environment and solidifying its position as one of the top dealers, Citigroup is IFR’s Equity Derivatives House of the Year.
A force for change: For emerging as a disruptive and increasingly influential force in the leveraged loan market, while taking market share from established houses and leading innovation in a rapidly changing landscape, KKR Capital Markets is IFR’s Americas Loan House of the Year.
Wide-angle lens: Credit ratings agencies dominated the ESG ratings world in 2019, snapping up smaller specialists and unveiling new products. For accelerating the push to standardise disparate ESG information, identify risk, and ultimately link it to the cost of debt, S&P Global Ratings is IFR’s ESG Opinion Provider of the Year.
Breaking away: In a tricky year littered with IPO landmines, Goldman Sachs broke clear of its peers in the league table and adapted most successfully to a changing ECM landscape. The firm is IFR’s North America Equity House of the Year.
Jack of all trades: Bank of America’s equity-linked services proved in high demand because of innovative solutions offered to clients across industries, making it IFR’s Americas Structured Equity House of the Year.