The accolade was based on evidence of excellence and innovation across all business areas globally ranging from Equity to Fixed Income, Debt Capital Markets, Equity Capital Markets, Convertible Bonds, M&A and the quality of Research. It is the first major award that Daiwa can lay claim to which acknowledges excellence across business lines on a global level. Notably, Daiwa is the only Asian firm to have won a global award this year, with the magazine’s other global winners being based in North America and the Middle East.
In the magazine’s awards introduction, its editors note that 'the past year was one of transition. Those banks that surpassed their peers did so by embracing reforms, restructuring and implementing long-term strategic plans to succeed'.
Global Finance was established in 1987 and has an audited circulation of approximately 50,000, with readers in 163 countries. Headquartered in New York, it also has offices in London and Milan.