More than 200 leading figures in Asia’s financial markets gathered at the Grand Hyatt Hong Kong for the announcement of FinanceAsia's flagship awards, celebrating the outstanding institutions, deals and people over the course of what was a volatile year.
There was clear competition between banks for the top awards. But Citi muscled out its rivals to win recognition as the best bank overall in the region. Asia Pacific CEO Francisco Aristeguieta accepted the award, thanking the rougly 60,000 Citi employees in the region — and vowing to keep the title next year.
Morgan Stanley was picked as the best investment bank throughout the region in 2016, as well as best ECM house. Among other prominent bank awards, DBS was recognised as the best Asian investment bank and best Asian private bank, HSBC was awarded best bond house and best commercial bank, and Goldman Sachs was declared best global private bank and best M&A house.
The stand-out deal, scooping four different awards, was a Tencent-led consortium’s $8.6 billion acquisition of Finnish games company Supercell. Chinese buyers turning overseas for technology all but defined the year for Asia’s M&A bankers, but Tencent’s savvy purchase of the maker of Clash of Clans stood out from the crowd.
Not all of our awards went to institutions or deals. Amando Tetangco Jr, the governor of the central bank of the Philippines, was given our Outstanding Achievement award.
“Tetangco, already the longest serving governor of Bangko Sentral ng Pilipinas, has made a lasting contribution to the development of the Philippines,” said Jonathan Hirst, publisher of FinanceAsia. “He has managed the difficult task of keeping inflation under control at the same time as giving the country room to grow and fulfill its potential. He has been a beacon of professionalism in a region where foreign investors all too often question those in charge.”
Juan D. de Zuñiga, Jr, a member of the central bank’s monetary policy board, picked up the award on Tetangco’s behalf.
As always, the quiz was hotly-contested. HSBC beat out the competition this year, taking the title from last year’s winner, Goldman Sachs.
