THE WINNERS’ CIRCLE

Global FinanceannouncesThe Winners’ CircleA ranking of the Top Winners of our Annual Awards over the magazine’s 25-year history

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NEW YORK, June 4, 2012Global Financemagazine is proud to announce The Winners’ Circle – the Top Winners from 25 years of the magazine’s annual awards program.

“The world has changed dramatically sinceGlobal Financefirst appeared in 1987. Global financial markets have undergone a seismic shift, and the firms and individuals that made it into our Winners’ Circle are those that have shown their true mettle and transformed themselves to meet the demands of a changing environment,” saysGlobal Finance’s publisher, Joseph D. Giarraputo. “We recognize these firms and individuals for their outstanding accomplishments over the past 25 years.”Global Finance’s annual awards program is a recognized and trusted standard for the entire financial world.

A full report on the winners will appear in theSpecial Commemorative 25th Anniversary Issue, released on June 25th, 2012. Award tallies are calculated to June 2012 issue. To compile the winners, we tallied winners/those taking first place over all of the years that a particular award was given. The winners lists comprise the top scorers in these tallies.

In theSpecial Commemorative Edition, we take an in-depth look at the leading events that guided the markets and sectors over whichGlobal Financehas kept a watchful eye for the past 25 years. Plus—backed by market-leading research—we evaluate the trends that will govern these sectors and markets for the next quarter century.

For editorial information please contact: Andrea Fiano, Editor, email:afiano@gfmag.com

Global Financenames The Winners’ Circle — the Top Winners in our annual awards over the magazine’s 25-year history

* TIE

WORLD’S BEST BANKS
GLOBAL WINNERS
CorporateJPMorgan Chase
Runner UpCiti
ConsumerHSBC
Runner UpCiti
Private BankUBS
Runner UpCredit Suisse
Asset ManagerState Street Global Advisors
Runner UpBank of America Merrill Lynch
CustodyBNY Mellon
Runner UpCiti
Sub-CustodyHSBC
Runner UpCiti
Emerging Markets BankCiti
Runner UpStandard Chartered
Islamic Financial InstitutionKuwait Finance House
Investment Bank

*Goldman Sachs

*J.P. Morgan

Runner UpCiti
Cash ManagementCiti
Trade FinanceCiti
Runner UpBNP Paribas
Foreign ExchangeDeutsche Bank
REGIONAL WINNER
North AmericaJPMorgan Chase
Western EuropeSantander
AsiaHSBC
Central & Eastern EuropeRaiffeisen Bank International
Runner UpUniCredit Bank Austria
Latin AmericaBanco Santander
Runner UpCiti
Middle EastNational Bank of Kuwait
Runner UpCiti
AfricaStandard Chartered
Runner UpStandard Bank
COUNTRY WINNERS
BEST BANKRUNNER UP
NORTH AMERICA
BermudaButterfield BankHSBC Bermuda
CanadaRBCScotiabank
U.S.JPMorgan ChaseCiti
LATIN AMERICA
ArgentinaBanco MacroBanco Santander Rio
BarbadosFirstCaribbean InternationalScotiabank Barbados
BelizeBelize Bankn/a
BoliviaBanco de Crédito de BoliviaBanco Bisa
BrazilItaú UnibancoBradesco
ChileBanco Santander ChileBanco de Chile
ColombiaBancolombiaBanco de Bogotá
Costa RicaScotiabank Costa RicaHSBC (Banco Banex)
Dominican RepublicBanco Popular Dominicanon/a
EcuadorBanco PichinchaBanco Popular del Equador
El SalvadorBanco AgrícolaBanco Citibank de El Salvador
GuatemalaBanco AgromercantilBanco de Occidente
HondurasBanco Atlántidan/a
JamaicaScotiabank JamaicaCIBC First Caribbean
MexicoBanamexBBVA Bancomer
PanamaBanco GeneralHSBC (Banistmo)
ParaguayItaú Unibanco (Interbanco)Banco General
PeruBBVA Banco ContinentalBanco de Crédito
Puerto RicoBanco PopularBanco Santander Puerto Rico
Trinidad & TobagoRepublic BankScotiabank Trinidad & Tobago
Turks & CaicosScotiabank Turks & Caicosn/a
UruguayABNAmro UruguayBanco Comercial/Banco Santander
VenezuelaBBVA Banco ProvincialBanco Mercantil
EUROPE
AlbaniaRaiffeisen Bank AlbaniaInternational Commerical Bank
AustriaUniCredit Bank AustriaRaiffeisen Bank International
BelarusPriorbankBelarusbank
BelgiumKBCFortis
Bosnia HerzegovinaRaiffeisen Bank Bosnia i HercegovinaIntesa Sanpaolo banka
BulgariaUniCredit BulbankDSK Bank
CroatiaZagrebačka BankaPrivredna Banka Zagreb
CyprusBank of Cyprusn/a
Czech RepublicCSOBČeská spořitelna
DenmarkDanske Bankn/a
EstoniaSwedbankUnion Bank of Estonia
FinlandNordeaPohjola Bank
FranceBNP ParibasSociété Générale
GermanyDeutsche BankHVB Group/Commerzbank
GreeceEFG EurobankAlpha Bank
HungaryOTP Bankn/a
IcelandLandsbankiArion Bank
IrelandBank of IrelandAllied Irish Banks
ItalyUniCreditIntesa Sanpaolo
KosovoRaffeisen Bank KosovoProCredit Bank Kosovo
LatviaSEBParex Bank
LithuaniaSEBSwedbank
LuxembourgBGL BNP ParibasBanque et Caisse d’Epargne de l’Etat
MacedoniaKomercijalna Banka a.d. Skopjen/a
MaltaBank of VallettaHSBC Bank Malta
MoldovaMoldova Agroindbankn/a
NetherlandsABN AmroRabobank
NorwayDnBNordea
PolandBank PekaoCiti Handlowy
PortugalMillennium bcpBanco Santander Totta
RomaniaBRD-Groupe Société GénéraleRaiffeisen Bank International
RussiaAlfa BankMDM Bank/VTB
SerbiaRaiffeisen BankaKomercijalna Banka a.d. Beograd
SlovakiaTatra BankaSlovenská Sporitel’ňa/VUB Banca
SloveniaNova Ljubljanska BankaSKB Banka
SpainSantanderBanco Popular
SwedenHandelsbankenSEB
SwitzerlandUBS/Credit Suissen/a
TurkeyAkbankGaranti Bank
UkrainePJSC CB PrivatBankUkrSibbank
UKHSBCRBS
ASIA
ArmeniaHSBC Bank ArmeniaConverse Bank
AustraliaCommonwealth Bank of AustraliaANZ
AzerbaijanInternational Bank of AzerbaijanAccessBank
BangladeshIslami Bank/Janata BankAB Bank
ChinaICBCChina Construction Bank
GeorgiaBank of GeorgiaTBC Bank
Hong KongHSBCBank of China (Hong Kong)
IndiaICICI BankHDFC Bank
IndonesiaBank Danamon/ Bank Central AsiaBank Mandiri/Panin Bank
JapanMitsubishi UFJ FinancialSumitomo Mitsui Financial Group
KazakhstanKazkommertsbankHalyk Bank
Kyrgyz RepublicAsiaUniversalBankDemir Kyrgyz International Bank
MacauICBC Macaun/a
MalaysiaMaybankPublic Bank Berhad
MongoliaKhan BankGolomt Bank
New ZealandBank of New ZealandAuckland Savings Bank (ASB)
PakistanNational Bank of Pakistan/HBL PakistanAskari Bank
PhilippinesBank of the Philippine IslandsBanco de Oro (BDO)
SingaporeDBSUnited Overseas Bank
South KoreaShinhan BankKookmin Bank (KB)
Sri LankaCommercial Bank of Ceylonn/a
TaiwanChinatrust Commercial BankBank SinoPac
ThailandSiam Commercial BankKasikornbank
UzbekistanBank Credit-StandardNational Bank of Uzbekistan
VietnamAsia Commercial BankSacombank/VietcomBank
MIDDLE EAST
BahrainAhli United BankNational Bank of Bahrain
EgyptCommercial International Bankn/a
IranBank Melli Iran/Bank Tejarat/Parsian Bankn/a
IraqCommercial Bank of Iraqn/a
IsraelBank HapoalimMizrahi Tefahot Bank
JordanArab BankJordan Kuwait Bank
KuwaitNational Bank of KuwaitGulf Bank
LebanonBLOM BankBank Audi
OmanBankMuscatNational Bank of Oman
QatarQatar National Bankn/a
Saudi ArabiaSamba Financial GroupArab National Bank
SyriaBank of Syria and Overseas/Bank Audi Syrian/a
UAEEmirates NBDNational Bank of Abu Dhabi
YemenArab Bank Yemenn/a
AFRICA
AlgeriaArab Banking Corporation Algerian/a
AngolaBanco Espírito Santo Angolan/a
BotswanaStandard Chartered Bank BotswanaStanbic Bank Botswana
Cote d’IvoireEcobank Cote d’Ivoiren/a
DRCStandard Bank Congon/a
DjiboutiInternational Commercial Bank-Djiboutin/a
EthiopiaNib International BankDashen Bank
GambiaTrust BankStandard Chartered Bank Gambia
GhanaGhana Commercial BankStandard Chartered Bank Ghana
GuineaInternational Commercial Bank GuineaEcobank Guinea Conakry
KenyaBarclays Bank of KenyaKenya Commercial Bank
LibyaWahda Bankn/a
MauritiusMauritius Commercial Bankn/a
MoroccoAttijariwafa Bankn/a
MozambiqueMillennium bimn/a
NamibiaStandard Bank NamibiaFirst National Bank of Namibia
NigeriaFirstBankn/a
RwandaBanque Commerciale du RwandaBank of Commerce Development and Industry
SenegalEcobank SenegalCBAO Attijariwafa bank
Sierra LeoneInternational Commercial Bank-Sierra Leonen/a
South AfricaStandard Bank South AfricaNedcor
SudanAl Salam Bank Sudann/a
TogoEcobankn/a
TunisiaBanque de TunisieBanque Internationale Arabe de Tunisie
UgandaStanbic Bank Ugandan/a
ZambiaStandard Chartered Bank Zambian/a
ZimbabweStanbic Bank ZimbabweStandard Chartered Bank Zimbabwe
WORLD’S LARGEST BANKS
LARGEST BANKS (By Assets)NUMBER OF YEARS AT  #1LARGEST BANKS (By Assets)NUMBER OF YEARS AT  #1
BNP Paribas2Barclays1
Royal Bank of Scotland2UBS1
Mizuho Financial Group2Citi1
Sumitomo Mitsui Banking Corp1
WORLD’S SAFEST BANKS
OVERALL WINNERSNUMBER OF YEARS AT  #1
CDC5
Deutsche Bank4
KfW4
Rabobank3
Bayerische Landesbank3
Landesbank Baden-Württemberg1
REGIONAL WINNERS
North AmericaRoyal Bank of Canada
Western EuropeKfW
AsiaDBS Bank
Central & Eastern EuropeČeská spořitelna
Australia & New ZealandNational Australia Bank
Latin AmericaBancoEstado
Middle East/AfricaNational Bank of Abu Dhabi
BEST FOREIGN EXCHANGE PROVIDERS
GLOBAL WINNERDeutsche Bank
Runner UpCiti
REGIONAL WINNERS
North AmericaCiti
Western EuropeDeutsche Bank
Asia PacificHSBC
Runner UpStandard Chartered
Southeast AsiaDBS Group
Runner UpStandard Chartered
Central & Eastern EuropeUniCredit
Runners Up

*Deutsche Bank

*Société Générale

Nordic Region

*Handelsbanken

*SEB

Runner UpNordea
Latin AmericaCiti
Runner UpBanco Bradesco
Middle EastAhli United Bank
Runner UpNational Bank of Kuwait
AfricaStandard Chartered
Runner UpStandard Bank
RESEARCH & ANALYSIS
Best FX ReserachBNY Mellon
Best Fundamental AnalysisBrown Brothers Harriman
Best Technical AnalysisBNY Mellon
Best ForecastsBNY Mellon
Best Strategy/HedgingDeutsche Bank
ONLINE FX TRADING SYSTEMS
Best BankState Street
Best IndependentFXall
Best RetailForex Capital Markets (FXCM)
BEST TREASURY & CASH MANAGEMENT PROVIDERS
GLOBAL WINNERS
Best Overall Bank for Cash ManagementCiti
Best White Label System ProviderBNY Mellon Enterprise Treasury Services
REGIONAL WINNERS
North America
OverallJ.P. Morgan
Runner UpBank of America Merrill Lynch
Liquidity ManagementJ.P. Morgan
Runner UpBank of America Merrill Lynch
Money Market Funds ProviderJ.P. Morgan
Runner UpCiti Asset Management
Risk ManagementJ.P. Morgan
Runner UpBank of America Merrill Lynch
Payments and Collections

*J.P. Morgan

*Wells Fargo

Runner UpBank of America Merrill Lynch
Western Europe
OverallDeutsche Bank
Liquidity ManagementRBS (including ABN Amro)
Runner UpDeutsche Bank
Money Market Funds ProviderBarclays Global Investors
Runner Up

*Citi Asset Management

*DB Advisors

Risk ManagementDeutsche Bank
Runners Up

*RBS (including ABN Amro)

*UBS

Payments and CollectionsDeutsche Bank
Asia
OverallHSBC
Liquidity Management

Citi

Runner Up

*HSBC

*Standard Chartered

Money Market FundsJPMorgan Asset Management
Runner UpHSBC
Risk ManagementCiti
Runner UpHSBC
Payments and CollectionsHSBC
Latin America
OverallCiti
Liquidity ManagementCiti
Money Market FundsBanco Bradesco
Risk ManagementCiti
Runner UpBanco Bradesco
Payments and CollectionsCiti
Central & Eastern Europe
OverallRZB
Runner UpUniCredit
Liquidity Management

*RBS (including ABN Amro)

*RZB

Runner Up*UniCredit
Money Market FundsRZB
Risk ManagementRZB
Payments and CollectionsUniCredit
Runner UpRZB
Nordic Countries
OverallSEB
Liquidity ManagementSEB
Money Market FundsNordea
Risk ManagementSEB
Payments and CollectionsDanske
Runner UpSEB
Middle East
OverallHSBC
Liquidity Management

*Citi

*Standard Chartered

Money Market Funds

*National Bank of Kuwait

*Banque Misr

Risk ManagementCiti
Runner UpHSBC
Payments and CollectionsHSBC
Africa
OverallStandard Bank
Liquidity ManagementStandard Chartered
Money Market Funds

*Banque Misr

*Standard Bank

Risk ManagementCiti
Payments and CollectionsStandard Bank
SYSTEMS & SERVICE PROVIDERS
A/P ServicesBottomline Technologies
A/R ServicesSungard AvantGard Receivables
E-Invoicing Services

*Ariba

*Basware

Payroll ServicesOracle
Cards and Expenses Services ProviderMasterCard Worldwide
Runner UpVisa
Purchasing Card ProgramCiti
Electronic Payments ProviderFiserv
Loss Prevention/Business Continuity
Services ProviderSunGard Availability Services
Runner UpIBM Business Continuity and Resiliency Services
Pension Plan AdministrationCPAS Systems
Runners Up

*Watson Wyatt Worldwide

*Mercer

Technology Service ProviderHP Enterprise Services (including EDS)
Runner UpSunGard
Treasury Workstation ProviderSunGard AvantGard
Treasury Management SoftwareSunGard AvantGard (including XRT)
Runner UpWall Street Systems
Mobile Solution Provider

*Wells Fargo

*Cfc Stanbic Bank

BEST SUPPLY CHAIN FINANCE PROVIDERS
GLOBAL WINNERS
Best Global SCF Provider – BankCiti
Runner UpHSBC
Best Global SCF Provider – Non BankOrbian
Best Supplier Support and EnrollmentPrimeRevenue
Runner UpAriba
Best Payables Supplier Financing SolutionStandard Chartered
Runner UpHSBC
Best Pre-Shipment Financing SolutionStandard Chartered
Runner UpBNP Paribas Utexam Logistics
Best Customer Implementation of SCF Solution

*Citi, US Export-Import Bank

*Royal Bank of Scotland, SAAB

*Capital Tool, World Bank, Government of Peru

Best Web-based Supply Chain Financing Solution

*RBS MaxTrad

*PrimeRevenue

*The Receivables Exchange

REGIONAL WINNERS
North AmericaCiti
Western EuropeRoyal Bank of Scotland
AsiaStandard Chartered
Central & Eastern EuropeUniCredit
Nordic RegionSEB
Latin AmericaSantander
Middle EastHSBC
AfricaStandard Chartered
BEST DERIVATIVES PROVIDERS
NORTH AMERICA
CommoditiesMorgan Stanley
CreditJ.P. Morgan
EquitySociété Générale
Foreign ExchangeCiti
Interest RateJ.P. Morgan
EUROPE
CommoditiesMorgan Stanley
CreditJ.P. Morgan
EquitySociété Générale
Foreign ExchangeDeutsche Bank
Interest RateRBS
ASIA
CommoditiesSociété Générale
CreditBNP Paribas
EquitySociété Générale
Foreign Exchange

*HSBC

*Deutsche Bank

Interest RateStandard Chartered
MIDDLE EAST
Best Derivatives ProviderHSBC
LATIN AMERICA
Best Derivatives ProviderSociété Générale
DERIVATIVES EXCHANGES AWARDS
Achievement AwardICE
Performance Award

*NYSE Euronext

*European Climate Exchange

*Eurex

*CBOE

BEST SUB-CUSTODIANS
REGIONAL WINNERS
North AmericaBNY Mellon
Runner UpCiti
Western EuropeBNP Paribas
Central and Eastern EuropeUniCredit
Runner UpRZB
Nordic CountriesSEB
AsiaHSBC
Runner UpStandard Chartered
Latin AmericaCiti
Middle EastHSBC
Africa

*Standard Bank

*NedBank

CaribbeanHSBC
Runner UpRepublic Bank
CENTRAL BANKER REPORT CARDS
CountryNumber of “A” Grades
AMERICAS
Alan GreenspanUS5
Gordon ThiessenCanada3
Vittorio CorboChile2
Miguel Mancera AguayoMexico1
Gustavo FrancoBrazil1
Arminio Fraga NetoBrazil1
Guillermo Ortiz MartínezMexico1
Carlos MassadChile1
EUROPE
Luis Ángel RojoSpain5
Svein GjedremNorway4
Hanna Gronkiewicz-WaltzPoland4
György SurányiHungary4
Jean-Claude TrichetFrance3
Urban BäckströmSweden3
Edward GeorgeUK3
Lars HeikenstenSweden2
Antonio FazioItaly2
Gazi ErçelTurkey2
Leszek BalcerowiczPoland1
Stefan IngvesSweden1
Zdeněk TůmaCzech Republic1
Durmuş YilmazTurkey1
Tatiana ParamonovaRussia1
Willem Frederik DuisenbergNetherlands1
Viktor YushchenkoUkraine1
Bodil Nyboe AndersenDenmark1
ASIA
Zeti Akhtar AzizMalaysia9
Perng Fai-NanTaiwan8
Ian MacfarlaneAustralia7
Amando Tetangco JrPhilippines3
Glenn StevensAustralia3
Rafael BuenaventuraPhilippines2
Burhanuddin AbdullahIndonesia2
Bimal JalanIndia1
Park SeungSouth Korea1
Pridiyathorn DevakulaThailand1
Yaga Venugopal ReddyIndia1
Heng Swee KeatSingapore1
Lee SeongtaeSouth Korea1
Yasushi MienoJapan1
Donald BrashNew Zealand1
Lee Hsien LoongSingapore1
MIDDLE EAST/AFRICA
Tito MboweniSouth Africa5
Stanley FischerIsrael4
Riad SalamehLebanon1
Jacob FrenkelIsrael1
BEST TRADE FINANCE PROVIDERS
REGIONAL WINNERS
The AmericasCiti
Western EuropeRBS (including ABN Amro)
Runner UpBNP Paribas
AsiaHSBC
Runner UpStandard Chartered
Central & Eastern EuropeUniCredit
Runner UpRZB
Nordic RegionSEB
Middle EastArab Bank
Runner UpNational Bank of Kuwait
AfricaStandard Chartered
BEST ISLAMIC FINANCIAL INSTITUTIONS
OVERALL WINNERS
Best Sukuk BankCIMB Islamic
Best Islamic Retail BankJordan Islamic Bank
Best Islamic Investment Bank

*Jadwa Investment

*Standard Chartered

*Falcom

*Unicorn Investment Bank

*Samba

Best Takaful (Insurance) ProviderSalama-Islamic Arab Insurance
Best Asset Management CompanyCIMB Principal Islamic Asset Management
Best Shariah-Compliant Index ProviderDow Jones Islamic Market Indexes
Best Islamic Project Finance ProviderSABB
Best Islamic Commodities Provider

*Al Rajhi Bank

*DDCAP

*International Islamic Trade Finance Corporation

Best Islamic Real Estate Finance ProviderKuwait Finance House
Best Islamic Fund ManagerFalcom Financial Services
REGIONAL WINNERS
Gulf Cooperation Council (GCC)Kuwait Finance House
Non-GCC Middle East/AfricaAbsa Islamic Banking
AsiaCIMB Islamic
Europe

*European Islamic Investment Bank

*Bank of London and the Middle East

BEST INVESTMENT BANKS
GLOBAL AWARDS

Best Investment Bank

*J.P. Morgan

*Goldman Sachs

Best Equity Bank

J.P. Morgan

Best Debt Bank

J.P. Morgan

Best M&A Bank

*Morgan Stanley

*Goldman Sachs

Most Creative

Bank of America Merrill Lynch

SECTORS

Consumer

*Credit Suisse

*Lazard

*J.P. Morgan

*Citi

Financial Institutions

Bank of America Merrill Lynch

Health Care

*J.P. Morgan

*Barclays Capital

*Goldman Sachs

Infrastructure

Scotia Capital

Industrial/Chemicals

J.P. Morgan

Media/Entertainment

J.P. Morgan

Metals & Mining

BMO Capital Markets

Oil & Gas

Bank of America Merrill Lynch

Power

Morgan Stanley

Real Estate

*J.P. Morgan

*UBS

*Barclays Capital

*Raymond James

Technology

*Credit Suisse

*Barclays Capital

*Goldman Sachs

*Morgan Stanley

Telecom

J.P. Morgan

REGIONAL AWARDS

NORTH AMERICA

Best Investment Bank

J.P. Morgan

Best Equity Bank

J.P. Morgan

Best Debt Bank

Bank of America Merrill Lynch

Best M&A Bank

*Morgan Stanley

*Goldman Sachs

WESTERN EUROPE

Best Investment Bank

*Morgan Stanley

*Deutsche Bank

*J.P. Morgan

*Credit Suisse

Best Equity Bank

J.P. Morgan

Best Debt Bank

Deutsche Bank

Best M&A Bank

Morgan Stanley

ASIA

Best Investment Bank

*Morgan Stanley

*CICC

Best Equity Bank

*Morgan Stanley

*UBS

*China CITIC Bank

*Ping An

Best Debt Bank

*Standard Chartered

*Nomura

*Citi

*CICC

Best M&A Bank

Morgan Stanley

CENTRAL & EASTERN EUROPE

Best Investment Bank

Bank of America Merrill Lynch

Best Equity Bank

Bank of America Merrill Lynch

Best Debt Bank

J.P. Morgan

Best M&A Bank

Bank of America Merrill Lynch

NORDIC

Best Investment Bank

*SEB

*Handelsbanken Capital Markets

*Pareto Securities

Best Equity Bank

*Bank of America Merill Lynch

*Handelsbanken Capital Markets

*Pareto Securities

Best Debt Bank

DnB

Best M&A Bank

SEB

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