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To be recognised as a global leader in the Trade Finance Global Awards for Excellence is a prestigious and hotly contested honour.
The awards not only serve as a celebration, but also as a reflection of the ever-changing landscape of the international trade-finance market.
Through the nomination process, the Awards for Excellence enable the broader trade-finance community to express its views on which institutions best meet the needs of a clientele faced with a complex matrix of challenges: regulation, sanctions, economic and geopolitical uncertainty and an endless list of other complexities. Does a bank have sufficient appetite for risk and is its sector knowledge world class? Does a law firm understand the nuance of cross-border transactions? Is an export credit agency supporting its country’s exporters with utmost efficacy? The public weighs in through nominations.
The 2015 Awards for Excellence capture the drama of a past year characterised by political tension across the Eurasian continent and persistent unease within the global banking sector.
In what has been a back-and-forth battle over the past few years, this year HSBC overtook Citi to reclaim the award for Best Overall Global Trade Finance Bank.
HSBC has showcased its global force by also taking home the Best Structured Commodity Finance Bank, Best Supply-Chain Finance Bank and Best Factoring Institution.
But there is not much to separate the two global banking heavyweights as Citi has also had a great year in the global awards by taking home Best Short-Term Trade Finance Bank and Best Export Finance Arranger. Another back-and-forth battle within these awards has been between US Ex-Im and Euler Hermes for Best Global ECA.
This year, US Ex-Im knocked Euler Hermes off the top spot to reclaim the award it won in 2013. Over the past year, US Ex-Im has been very active across a diverse range of geographies and sectors, particularly in financing transactions in the aviation industry.
The Best Commodity/Trade Finance Law Firm was once again scooped up by Norton Rose Fulbright, who are continuing to show their dominance as a leading trade law firm. The law firm also won the Best Trade Law Firm EMEA and Best Trade Law Firm in Asia-Pacific. Meanwhile, the Best Global ECA/DFI Law Firm award was won by Clifford Chance. The European Bank for Reconstruction and Development (EBRD) has also kept hold of Best Global MFI/DFI. But there is mounting competition from the increasingly active Asian Development Bank, which was this year honoured with Highly Commended.
And what of such names as the BRICS Development Bank and the Asian Infrastructure Investment Bank?
On the insurer front, Zurich was awarded as Best Private Insurer and BPL Global took the title of Best Insurance Broker in Trade away from Marsh.
An interesting point of discussion for these awards is how they will look going forward. Will the increasing use of data analytics and other technology in this market mean more awards in these categories? Also, with every bank increasingly cautious of compliance, should there be an award for Most Compliant Bank? Stay tuned.
|Best collateral management company||Drum Risk||Accenture Collateral Management Services|
|Best commodity/trade finance law firm||Norton Rose Fulbright||Dentons|
|Best DFI finance arranging bank||Societe Generale||Citi|
|Best energy finance bank||SMBC||MUFG|
|Best export finance arranger||Citi||HSBC|
|Best factoring institution||HSBC||Compagnie Generale D'Affacturage|
|Best FI trade servicing bank||Deutsche Bank||Standard Chartered|
|Best global ECA||US Ex-Im||Kexim|
|Best global ECA/DFI law firm||Clifford Chance||Norton Rose Fulbright
|Best global MFI/DFI||EBRD||ADB|
|Best insurance broker in trade||BPL Global||Marsh|
|Best metals finance bank||Societe Generale||HSBC|
|Best overall commodity finance bank||Societe Generale||ING|
|Best overall global trade finance bank||HSBC||Citi|
|Best private insurer in trade||Zurich||Swiss Re|
|Best short-term trade finance bank||Citi||HSBC|
|Best softs finance bank||Rabobank||ING|
|Best structured commodity finance bank||HSBC||Societe Generale|
|Best structured trade finance institution||Standard Chartered||HSBC|
|Best supply-chain finance bank||HSBC||Citi|
|Best trade finance tech-solutions company||Misys||Prime Revenue|