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
Corporate JPMorgan Chase
Runner Up Citi
Consumer HSBC
Runner Up Citi
Private Bank UBS
Runner Up Credit Suisse
Asset Manager State Street Global Advisors
Runner Up Bank of America Merrill Lynch
Custody BNY Mellon
Runner Up Citi
Sub-Custody HSBC
Runner Up Citi
Emerging Markets Bank Citi
Runner Up Standard Chartered
Islamic Financial Institution Kuwait Finance House
Investment Bank

*Goldman Sachs

*J.P. Morgan

Runner Up Citi
Cash Management Citi
Trade Finance Citi
Runner Up BNP Paribas
Foreign Exchange Deutsche Bank
REGIONAL WINNER
North America JPMorgan Chase
Western Europe Santander
Asia HSBC
Central & Eastern Europe Raiffeisen Bank International
Runner Up UniCredit Bank Austria
Latin America Banco Santander
Runner Up Citi
Middle East National Bank of Kuwait
Runner Up Citi
Africa Standard Chartered
Runner Up Standard Bank

COUNTRY WINNERS
BEST BANK RUNNER UP
NORTH AMERICA
Bermuda Butterfield Bank HSBC Bermuda
Canada RBC Scotiabank
U.S. JPMorgan Chase Citi
LATIN AMERICA
Argentina Banco Macro Banco Santander Rio
Barbados FirstCaribbean International Scotiabank Barbados
Belize Belize Bank n/a
Bolivia Banco de Crédito de Bolivia Banco Bisa
Brazil Itaú Unibanco Bradesco
Chile Banco Santander Chile Banco de Chile
Colombia Bancolombia Banco de Bogotá
Costa Rica Scotiabank Costa Rica HSBC (Banco Banex)
Dominican Republic Banco Popular Dominicano n/a
Ecuador Banco Pichincha Banco Popular del Equador
El Salvador Banco Agrícola Banco Citibank de El Salvador
Guatemala Banco Agromercantil Banco de Occidente
Honduras Banco Atlántida n/a
Jamaica Scotiabank Jamaica CIBC First Caribbean
Mexico Banamex BBVA Bancomer
Panama Banco General HSBC (Banistmo)
Paraguay Itaú Unibanco (Interbanco) Banco General
Peru BBVA Banco Continental Banco de Crédito
Puerto Rico Banco Popular Banco Santander Puerto Rico
Trinidad & Tobago Republic Bank Scotiabank Trinidad & Tobago
Turks & Caicos Scotiabank Turks & Caicos n/a
Uruguay ABNAmro Uruguay Banco Comercial/Banco Santander
Venezuela BBVA Banco Provincial Banco Mercantil
EUROPE
Albania Raiffeisen Bank Albania International Commerical Bank
Austria UniCredit Bank Austria Raiffeisen Bank International
Belarus Priorbank Belarusbank
Belgium KBC Fortis
Bosnia Herzegovina Raiffeisen Bank Bosnia i Hercegovina Intesa Sanpaolo banka
Bulgaria UniCredit Bulbank DSK Bank
Croatia Zagrebačka Banka Privredna Banka Zagreb
Cyprus Bank of Cyprus n/a
Czech Republic CSOB Česká spořitelna
Denmark Danske Bank n/a
Estonia Swedbank Union Bank of Estonia
Finland Nordea Pohjola Bank
France BNP Paribas Société Générale
Germany Deutsche Bank HVB Group/Commerzbank
Greece EFG Eurobank Alpha Bank
Hungary OTP Bank n/a
Iceland Landsbanki Arion Bank
Ireland Bank of Ireland Allied Irish Banks
Italy UniCredit Intesa Sanpaolo
Kosovo Raffeisen Bank Kosovo ProCredit Bank Kosovo
Latvia SEB Parex Bank
Lithuania SEB Swedbank
Luxembourg BGL BNP Paribas Banque et Caisse d’Epargne de l’Etat
Macedonia Komercijalna Banka a.d. Skopje n/a
Malta Bank of Valletta HSBC Bank Malta
Moldova Moldova Agroindbank n/a
Netherlands ABN Amro Rabobank
Norway DnB Nordea
Poland Bank Pekao Citi Handlowy
Portugal Millennium bcp Banco Santander Totta
Romania BRD-Groupe Société Générale Raiffeisen Bank International
Russia Alfa Bank MDM Bank/VTB
Serbia Raiffeisen Banka Komercijalna Banka a.d. Beograd
Slovakia Tatra Banka Slovenská Sporitel’ňa/VUB Banca
Slovenia Nova Ljubljanska Banka SKB Banka
Spain Santander Banco Popular
Sweden Handelsbanken SEB
Switzerland UBS/Credit Suisse n/a
Turkey Akbank Garanti Bank
Ukraine PJSC CB PrivatBank UkrSibbank
UK HSBC RBS
ASIA
Armenia HSBC Bank Armenia Converse Bank
Australia Commonwealth Bank of Australia ANZ
Azerbaijan International Bank of Azerbaijan AccessBank
Bangladesh Islami Bank/Janata Bank AB Bank
China ICBC China Construction Bank
Georgia Bank of Georgia TBC Bank
Hong Kong HSBC Bank of China (Hong Kong)
India ICICI Bank HDFC Bank
Indonesia Bank Danamon/ Bank Central Asia Bank Mandiri/Panin Bank
Japan Mitsubishi UFJ Financial Sumitomo Mitsui Financial Group
Kazakhstan Kazkommertsbank Halyk Bank
Kyrgyz Republic AsiaUniversalBank Demir Kyrgyz International Bank
Macau ICBC Macau n/a
Malaysia Maybank Public Bank Berhad
Mongolia Khan Bank Golomt Bank
New Zealand Bank of New Zealand Auckland Savings Bank (ASB)
Pakistan National Bank of Pakistan/HBL Pakistan Askari Bank
Philippines Bank of the Philippine Islands Banco de Oro (BDO)
Singapore DBS United Overseas Bank
South Korea Shinhan Bank Kookmin Bank (KB)
Sri Lanka Commercial Bank of Ceylon n/a
Taiwan Chinatrust Commercial Bank Bank SinoPac
Thailand Siam Commercial Bank Kasikornbank
Uzbekistan Bank Credit-Standard National Bank of Uzbekistan
Vietnam Asia Commercial Bank Sacombank/VietcomBank
MIDDLE EAST
Bahrain Ahli United Bank National Bank of Bahrain
Egypt Commercial International Bank n/a
Iran Bank Melli Iran/Bank Tejarat/Parsian Bank n/a
Iraq Commercial Bank of Iraq n/a
Israel Bank Hapoalim Mizrahi Tefahot Bank
Jordan Arab Bank Jordan Kuwait Bank
Kuwait National Bank of Kuwait Gulf Bank
Lebanon BLOM Bank Bank Audi
Oman BankMuscat National Bank of Oman
Qatar Qatar National Bank n/a
Saudi Arabia Samba Financial Group Arab National Bank
Syria Bank of Syria and Overseas/Bank Audi Syria n/a
UAE Emirates NBD National Bank of Abu Dhabi
Yemen Arab Bank Yemen n/a
AFRICA
Algeria Arab Banking Corporation Algeria n/a
Angola Banco Espírito Santo Angola n/a
Botswana Standard Chartered Bank Botswana Stanbic Bank Botswana
Cote d’Ivoire Ecobank Cote d’Ivoire n/a
DRC Standard Bank Congo n/a
Djibouti International Commercial Bank-Djibouti n/a
Ethiopia Nib International Bank Dashen Bank
Gambia Trust Bank Standard Chartered Bank Gambia
Ghana Ghana Commercial Bank Standard Chartered Bank Ghana
Guinea International Commercial Bank Guinea Ecobank Guinea Conakry
Kenya Barclays Bank of Kenya Kenya Commercial Bank
Libya Wahda Bank n/a
Mauritius Mauritius Commercial Bank n/a
Morocco Attijariwafa Bank n/a
Mozambique Millennium bim n/a
Namibia Standard Bank Namibia First National Bank of Namibia
Nigeria FirstBank n/a
Rwanda Banque Commerciale du Rwanda Bank of Commerce Development and Industry
Senegal Ecobank Senegal CBAO Attijariwafa bank
Sierra Leone International Commercial Bank-Sierra Leone n/a
South Africa Standard Bank South Africa Nedcor
Sudan Al Salam Bank Sudan n/a
Togo Ecobank n/a
Tunisia Banque de Tunisie Banque Internationale Arabe de Tunisie
Uganda Stanbic Bank Uganda n/a
Zambia Standard Chartered Bank Zambia n/a
Zimbabwe Stanbic Bank Zimbabwe Standard Chartered Bank Zimbabwe

WORLD’S LARGEST BANKS
LARGEST BANKS (By Assets) NUMBER OF YEARS AT  #1 LARGEST BANKS (By Assets) NUMBER OF YEARS AT  #1
BNP Paribas 2 Barclays 1
Royal Bank of Scotland 2 UBS 1
Mizuho Financial Group 2 Citi 1
Sumitomo Mitsui Banking Corp 1

WORLD’S SAFEST BANKS
OVERALL WINNERS NUMBER OF YEARS AT  #1
CDC 5
Deutsche Bank 4
KfW 4
Rabobank 3
Bayerische Landesbank 3
Landesbank Baden-Württemberg 1
REGIONAL WINNERS
North America Royal Bank of Canada
Western Europe KfW
Asia DBS Bank
Central & Eastern Europe Česká spořitelna
Australia & New Zealand National Australia Bank
Latin America BancoEstado
Middle East/Africa National Bank of Abu Dhabi

BEST FOREIGN EXCHANGE PROVIDERS
GLOBAL WINNER Deutsche Bank
Runner Up Citi
REGIONAL WINNERS
North America Citi
Western Europe Deutsche Bank
Asia Pacific HSBC
Runner Up Standard Chartered
Southeast Asia DBS Group
Runner Up Standard Chartered
Central & Eastern Europe UniCredit
Runners Up

*Deutsche Bank

*Société Générale

Nordic Region

*Handelsbanken

*SEB

Runner Up Nordea
Latin America Citi
Runner Up Banco Bradesco
Middle East Ahli United Bank
Runner Up National Bank of Kuwait
Africa Standard Chartered
Runner Up Standard Bank
RESEARCH & ANALYSIS
Best FX Reserach BNY Mellon
Best Fundamental Analysis Brown Brothers Harriman
Best Technical Analysis BNY Mellon
Best Forecasts BNY Mellon
Best Strategy/Hedging Deutsche Bank
ONLINE FX TRADING SYSTEMS
Best Bank State Street
Best Independent FXall
Best Retail Forex Capital Markets (FXCM)

BEST TREASURY & CASH MANAGEMENT PROVIDERS
GLOBAL WINNERS
Best Overall Bank for Cash Management Citi
Best White Label System Provider BNY Mellon Enterprise Treasury Services
REGIONAL WINNERS
North America
Overall J.P. Morgan
Runner Up Bank of America Merrill Lynch
Liquidity Management J.P. Morgan
Runner Up Bank of America Merrill Lynch
Money Market Funds Provider J.P. Morgan
Runner Up Citi Asset Management
Risk Management J.P. Morgan
Runner Up Bank of America Merrill Lynch
Payments and Collections

*J.P. Morgan

*Wells Fargo

Runner Up Bank of America Merrill Lynch
Western Europe
Overall Deutsche Bank
Liquidity Management RBS (including ABN Amro)
Runner Up Deutsche Bank
Money Market Funds Provider Barclays Global Investors
Runner Up

*Citi Asset Management

*DB Advisors

Risk Management Deutsche Bank
Runners Up

*RBS (including ABN Amro)

*UBS

Payments and Collections Deutsche Bank
Asia
Overall HSBC
Liquidity Management

Citi

Runner Up

*HSBC

*Standard Chartered

Money Market Funds JPMorgan Asset Management
Runner Up HSBC
Risk Management Citi
Runner Up HSBC
Payments and Collections HSBC
Latin America
Overall Citi
Liquidity Management Citi
Money Market Funds Banco Bradesco
Risk Management Citi
Runner Up Banco Bradesco
Payments and Collections Citi
Central & Eastern Europe
Overall RZB
Runner Up UniCredit
Liquidity Management

*RBS (including ABN Amro)

*RZB

Runner Up *UniCredit
Money Market Funds RZB
Risk Management RZB
Payments and Collections UniCredit
Runner Up RZB
Nordic Countries
Overall SEB
Liquidity Management SEB
Money Market Funds Nordea
Risk Management SEB
Payments and Collections Danske
Runner Up SEB
Middle East
Overall HSBC
Liquidity Management

*Citi

*Standard Chartered

Money Market Funds

*National Bank of Kuwait

*Banque Misr

Risk Management Citi
Runner Up HSBC
Payments and Collections HSBC
Africa
Overall Standard Bank
Liquidity Management Standard Chartered
Money Market Funds

*Banque Misr

*Standard Bank

Risk Management Citi
Payments and Collections Standard Bank
SYSTEMS & SERVICE PROVIDERS
A/P Services Bottomline Technologies
A/R Services Sungard AvantGard Receivables
E-Invoicing Services

*Ariba

*Basware

Payroll Services Oracle
Cards and Expenses Services Provider MasterCard Worldwide
Runner Up Visa
Purchasing Card Program Citi
Electronic Payments Provider Fiserv
Loss Prevention/Business Continuity
Services Provider SunGard Availability Services
Runner Up IBM Business Continuity and Resiliency Services
Pension Plan Administration CPAS Systems
Runners Up

*Watson Wyatt Worldwide

*Mercer

Technology Service Provider HP Enterprise Services (including EDS)
Runner Up SunGard
Treasury Workstation Provider SunGard AvantGard
Treasury Management Software SunGard AvantGard (including XRT)
Runner Up Wall Street Systems
Mobile Solution Provider

*Wells Fargo

*Cfc Stanbic Bank

BEST SUPPLY CHAIN FINANCE PROVIDERS
GLOBAL WINNERS
Best Global SCF Provider – Bank Citi
Runner Up HSBC
Best Global SCF Provider – Non Bank Orbian
Best Supplier Support and Enrollment PrimeRevenue
Runner Up Ariba
Best Payables Supplier Financing Solution Standard Chartered
Runner Up HSBC
Best Pre-Shipment Financing Solution Standard Chartered
Runner Up BNP 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 America Citi
Western Europe Royal Bank of Scotland
Asia Standard Chartered
Central & Eastern Europe UniCredit
Nordic Region SEB
Latin America Santander
Middle East HSBC
Africa Standard Chartered

BEST DERIVATIVES PROVIDERS
NORTH AMERICA
Commodities Morgan Stanley
Credit J.P. Morgan
Equity Société Générale
Foreign Exchange Citi
Interest Rate J.P. Morgan
EUROPE
Commodities Morgan Stanley
Credit J.P. Morgan
Equity Société Générale
Foreign Exchange Deutsche Bank
Interest Rate RBS
ASIA
Commodities Société Générale
Credit BNP Paribas
Equity Société Générale
Foreign Exchange

*HSBC

*Deutsche Bank

Interest Rate Standard Chartered
MIDDLE EAST
Best Derivatives Provider HSBC
LATIN AMERICA
Best Derivatives Provider Société Générale
DERIVATIVES EXCHANGES AWARDS
Achievement Award ICE
Performance Award

*NYSE Euronext

*European Climate Exchange

*Eurex

*CBOE

BEST SUB-CUSTODIANS
REGIONAL WINNERS
North America BNY Mellon
Runner Up Citi
Western Europe BNP Paribas
Central and Eastern Europe UniCredit
Runner Up RZB
Nordic Countries SEB
Asia HSBC
Runner Up Standard Chartered
Latin America Citi
Middle East HSBC
Africa

*Standard Bank

*NedBank

Caribbean HSBC
Runner Up Republic Bank

CENTRAL BANKER REPORT CARDS
Country Number of “A” Grades
AMERICAS
Alan Greenspan US 5
Gordon Thiessen Canada 3
Vittorio Corbo Chile 2
Miguel Mancera Aguayo Mexico 1
Gustavo Franco Brazil 1
Arminio Fraga Neto Brazil 1
Guillermo Ortiz Martínez Mexico 1
Carlos Massad Chile 1
EUROPE
Luis Ángel Rojo Spain 5
Svein Gjedrem Norway 4
Hanna Gronkiewicz-Waltz Poland 4
György Surányi Hungary 4
Jean-Claude Trichet France 3
Urban Bäckström Sweden 3
Edward George UK 3
Lars Heikensten Sweden 2
Antonio Fazio Italy 2
Gazi Erçel Turkey 2
Leszek Balcerowicz Poland 1
Stefan Ingves Sweden 1
Zdeněk Tůma Czech Republic 1
Durmuş Yilmaz Turkey 1
Tatiana Paramonova Russia 1
Willem Frederik Duisenberg Netherlands 1
Viktor Yushchenko Ukraine 1
Bodil Nyboe Andersen Denmark 1
ASIA
Zeti Akhtar Aziz Malaysia 9
Perng Fai-Nan Taiwan 8
Ian Macfarlane Australia 7
Amando Tetangco Jr Philippines 3
Glenn Stevens Australia 3
Rafael Buenaventura Philippines 2
Burhanuddin Abdullah Indonesia 2
Bimal Jalan India 1
Park Seung South Korea 1
Pridiyathorn Devakula Thailand 1
Yaga Venugopal Reddy India 1
Heng Swee Keat Singapore 1
Lee Seongtae South Korea 1
Yasushi Mieno Japan 1
Donald Brash New Zealand 1
Lee Hsien Loong Singapore 1
MIDDLE EAST/AFRICA
Tito Mboweni South Africa 5
Stanley Fischer Israel 4
Riad Salameh Lebanon 1
Jacob Frenkel Israel 1

BEST TRADE FINANCE PROVIDERS
REGIONAL WINNERS
The Americas Citi
Western Europe RBS (including ABN Amro)
Runner Up BNP Paribas
Asia HSBC
Runner Up Standard Chartered
Central & Eastern Europe UniCredit
Runner Up RZB
Nordic Region SEB
Middle East Arab Bank
Runner Up National Bank of Kuwait
Africa Standard Chartered

BEST ISLAMIC FINANCIAL INSTITUTIONS
OVERALL WINNERS
Best Sukuk Bank CIMB Islamic
Best Islamic Retail Bank Jordan Islamic Bank
Best Islamic Investment Bank

*Jadwa Investment

*Standard Chartered

*Falcom

*Unicorn Investment Bank

*Samba

Best Takaful (Insurance) Provider Salama-Islamic Arab Insurance
Best Asset Management Company CIMB Principal Islamic Asset Management
Best Shariah-Compliant Index Provider Dow Jones Islamic Market Indexes
Best Islamic Project Finance Provider SABB
Best Islamic Commodities Provider

*Al Rajhi Bank

*DDCAP

*International Islamic Trade Finance Corporation

Best Islamic Real Estate Finance Provider Kuwait Finance House
Best Islamic Fund Manager Falcom Financial Services
REGIONAL WINNERS
Gulf Cooperation Council (GCC) Kuwait Finance House
Non-GCC Middle East/Africa Absa Islamic Banking
Asia CIMB 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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