| John Abate (J.P. Morgan) and Steve Murray (II News) |
J.P. Morgan for the third straight year won the title of Best Overall Trading Group in LMW's seventh annual trading desk survey. The bank easily defended its Best Par Desk spot, but could not hold on to the Best Distressed Desk position it occupied last year. Credit Suisse First Boston rose from third to first in the distressed tables and took the second spot in par and overall. Citigroup held on to its third position in best overall and par, but it was Morgan Stanley that made the most impressive gains in par and distressed, taking the most improved awards in both. Results are contained in the enclosed supplement and are available here.