Deutsche Bank has been awarded the Best Flow House in the Middle East accolade in Euromoney’s Awards for Excellence for 2011.
It is the first time that Euromoney has introduced the Best Flow Award category, which recognizes the strengths of banks away from the primary markets of the region’s securities houses.
Salman Al Khalifa, Deutsche Bank’s Head of Markets for the MENA region said “We are extremely pleased with this significant win, which recognizes not only our achievements, but the investment Deutsche Bank has made in its regional platform to render a comprehensive suite of services to its clients. The flow business has been an integral part of our revenue stream regionally and has weathered well the turmoil of the financial crisis and the political upheaval.”
Clive Horwood, Euromoney Magazine’s Editor, said he expects the Best Flow House award to become “one of the most sought after awards in years to come,” adding that Deutsche Bank’s win comes in recognition of its increasing flow volumes in the region, particularly in rates; and its execution of more than US$1 billion of Egyptian treasury bills and an exceptionally large five-year Saudi credit default swap trade, as well as other achievements most notably a 15% foreign exchange market share in the region.
Noteworthy, is Deutsche Bank’s expansion of its trading operations in both Dubai and Riyadh, including the setting up a corporate treasury coverage team.
The Euromoney Awards for Excellence are in their 20th consecutive year. They continue to be one of the most respected awards in the financial services industry.
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