Euromoney rates the raters. Ronan Lyons Gearing up the tandem Citibank has a rival in foreign exchange after 18 years at the top of the league tables. Many mourn the passing of the old Chase culture. Only the big and the specialist inter-dealer brokers are sleeping comfortably at the moment. The rest are being squeezed by tightening margins and the rise of electronic screen-based systems.
Consolidation looks inevitable.
The stars get a lot more. But competition is up, and profits are down. The Euromoney bond traders' poll Deutsche Morgan Grenfell, SBC Warburg and Paribas come out top. Bahrain is in the middle of political unrest, and some believe that it is in danger of losing most of its banks - both domestic and foreign. Locals are more sanguine, however, pointing to a strong central bank and regional investment opportunities.