HSBC named Euromoney’s Best Bank in Asia

Wednesday, 23 July 2014 00:00 - - {{hitsCtrl.values.hits}}

HSBC has been named Best Bank in Asia in the Euromoney Awards for Excellence 2014. The bank has also been named Best Flow House in Asia, Best Risk Adviser in Asia, Best Bank in Hong Kong and Best Investment Bank in Hong Kong. These accolades were presented at Euromoney’s Asia awards ceremony hosted in Hong Kong on Thursday, 17 July. Peter Wong, Deputy Chairman of The Hongkong and Shanghai Banking Corporation and Chief Executive, Asia-Pacific, attended the event along with guests of HSBC. “The win is a vindication of HSBC’s strategy,” said Euromoney in its coverage of the Best Bank in Asia award, which highlighted the extent to which collaboration between the bank’s global banking and markets and commercial banking businesses had been key to securing the award.

Euromoney also pointed to HSBC’s strength in debt capital markets and corporate lending, said its gains in investment banking this year had been ‘particularly eye-catching’, noted that the bank was increasing its business with multinational corporations in Asia-Pacific and commented that it had developed its trade finance business, ‘expanding its RMB offering to Latin America as trade with mainland China grows’. Gordon French, Head of Global Banking and Markets, Asia-Pacific, remarked: “It’s hard to overstate what winning Best Bank in Asia means to HSBC. To be acknowledged in this way is a remarkable tribute to the headway we have made in broadening our business and bringing the full spectrum of investment banking, transaction banking and markets solutions to our clients across our Global Banking and Markets and Commercial Banking businesses.” Commenting on the Best Bank in Asia award, Noel Quinn, Head of Commercial Banking, Asia-Pacific, said: “This accolade is a great honour for HSBC and a reflection of our commitment to combining our broad international network, leadership in trade finance and ability to deliver integrated banking solutions to international businesses. We would not have achieved this award without the collaborative efforts and dedication of our employees, and we look forward to delivering continued innovative solutions to our clients across Asia-Pacific.” In its coverage of HSBC’s success in winning the awards for Best Bank and Best Investment Bank in Hong Kong, Euromoney stated: “In investment banking, its plan to be a one-stop shop, providing advisory services and financing to a diverse range of customers is beginning to look like it is working, and Hong Kong is a microcosm of Asia-Pacific in this respect.” The Bank’s strength in providing risk management and investment solutions for clients in foreign exchange, interest rates, credit, equities and commodities was highlighted in Euromoney’s decision to name HSBC Best Flow House in Asia and Best Risk Adviser in Asia. Euromoney pointed to HSBC’s ‘success in broadening the reach of the RMB’ in its commentary on the Best Flow House in Asia award. For the Best Risk Adviser in Asia award, it concluded: “HSBC wins through the volume and variety of transactions through which it can demonstrate its commitment to risk management.” Euromoney’s Awards for Excellence seek to recognise excellence in global financial services and cover more than 20 global product categories, best-in-class awards in all regions and the best banks in close to 100 countries around the world. The magazine’s editorial staff interviewed HSBC executives before making their awards decisions.