On August 18 FinanceAsia held its annual cocktail party to celebrate with the winners of our Structured Products Awards for 2010-11. The event was held at Shore, a swank new restaurant and bar in Central.
Many of the winners gathered that evening have made big changes to their teams during the past few years, to reflect a shift towards providing clients with derivatives-based ‘solutions’ rather than ‘products’. Choosing to re-focus in this way has led to better-organised teams that can design and execute cross-asset structures to help clients achieve a wide range of goals, which is also more interesting than shovelling accumulators to private bank clients. This ability to adapt to market conditions is why they won these awards this year.
These banks made tough decisions and stayed committed to the market, and the reward has been a promising return to healthier volumes.