Deutsche Bank
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| Vinod Aachi |
Deutsche Bank's strong trading and structuring capabilities--combined with its reach throughout the region--separate it from tough competition in this category. "They seem to have the strongest commitment in the Asian time zone," said a credit derivatives end user in Singapore. He noted the firm's large trading and structuring desks in Hong Kong, Singapore and Tokyo allow it to focus on regional underlying rather than relying on products imported from the U.S. and Europe. Credit market participants also said the firm is one of the top two houses consistently making markets in Asian credit-default swaps. The shop's structuring business, led by Vinod Aachi, head of the relative value group in Singapore, has been pushing innovative products to a variety of markets in the region. This includes Taiwan, where it structured a mega-size managed synthetic CDO of CDOs; Thailand, where it launched the first public CDO; the Philippines, where it structured principal-protected constant-maturity CDS; India, where the firm wrapped the credit risk of a corporate borrowing money with an offshore reinsurer; and Singapore, for which the firm launched a high-yield credit-linked deal for the retail market. As an alternative to locally-generated instruments, the ability to offer globally syndicated CDOs has also been a selling point for the firm, as well as cross asset-class hybrid credit products this year.
Nominees:
* BNP Paribas * JPMorgan
* Goldman Sachs * Morgan Stanley
