BVC: Best Stock Exchange, LatAm

[caption id="attachment_902" align="alignright" width="315"] Juan Pablo Córdoba Garcés[/caption]

The Colombian Securities Exchange has become a driving force for the corporate and economic development of the country that has recently registered outstanding social, economic and political progress. These advancements have allowed Colombia to position itself as the fourth largest economy in Latin America, with an average GDP growth of 4% over the last few years, and with a population of around 48 million, the third largest after Brazil and Mexico.

Due to these results, the Colombian capital market has established itself over the last five years as one of the most important sources of corporate finance in the country, channeling more than $40 billion in resources from private investors, and launching initiatives that have altered the paradigm of how to do business in Latin America. Moreover, it has also been one of the few markets showing sustained growth, not only in volume, but also in the value of its stock market. At the same time, it continues to be one of the most important fixed income markets in the world.

Initiatives such as the creation of the Integrated Latin American Market (MILA), the creation of the standardized derivatives market, and the adoption of internationally renowned technologies and financial instruments, have led the Colombian securities market to be recognized as a model for innovation and leadership. It is following in the footsteps of more advanced markets such as those found in Brazil, Mexico and Chile.

“The BVC has one of the most modern transactional platforms in Latin America: Nasdaq-OMX’s XStream system.”

Because of these achievements, the Ibero-American Federation of Stock Exchanges (FIAB) has recently named the CEO of BVC, Juan Pablo Córdoba, as president of the regional entity for the period 2013 to 2015. It is expected that from his new perch, Mr Córdoba will lead the normative standardization of the region´s capital markets, allowing for a vibrant flow of financial resources and thus further fostering intra-regional business.

Technological Architecture

The BVC has one of the most modern transactional platforms in Latin America: Nasdaq-OMX’s XStream system, which enjoys a well-known reputation in more than 50 countries and will allow the Colombian securities market to be connected to the world’s most developed markets in the near future, thanks to the adoption of international communication protocols (FIX).

To achieve this objective, the BVC has also modernized many of its products, raising them to international standards and thus creating new opportunities for both local and foreign investors. Tools such as the first ETFs, as well as brokering instruments through global custodians, mature rapidly in the Colombian securities industry.

Growth

The growth targets for the Colombian securities markets are focused on the creation of a robust infrastructure that offers investors and issuers real alternatives for participation. The BVC seeks to increase the number of high liquidity issuers in the market, an aim that has already begun to mature over the last few years, thanks to large placements on behalf of recognized local and foreign companies.

That is the case of companies such as Cemex Latam Holdings, which sold its shares through the BVC in 2012, as did other local companies that have started to expand in the region in search of new growth opportunities. Issues such as those of Grupo de Inversiones Suramericana and those of the banks Bancolombia, Davivienda and Banco de Bogotá, among others, have allowed them to finance acquisitions in Central and South American countries, positioning them as “Multilatinas”.

Coincidentally, and aligned to this wave of placements, the country has seen a surge in foreign direct investment, not only in its dynamic oil industry, but also in sectors of the economy such as finance, which has seen the arrival of institutions such as Itaú and BTG Pactual of Brazil, Corpbanca and LarrainVial of Chile, and Credicorp’s Banco de Crédito of Peru. Through acquisitions or the opening of subsidiaries, these institutions have encouraged the presence of international brokers within the market, bringing best management practices and attracting new clients from other latitudes.

Market Architecture

The Colombian regulatory framework is one of the most advanced in the region and has allowed the BVC to broaden its supply of commodities and structured products for brokers and end customers. Within this regulatory environment, the BVC propelled the creation of the standardized derivatives market, which in turn meant the implementation of new tools such as a central counterparty clearing house that eliminates the risk of defaults on transactions in the market. Furthermore, thanks to the creation of this infrastructure, the BVC created the first trading platform for standardized energy derivatives - Derivex - which has tremendous growth potential in the near future.

Indeed, this same regulatory framework has allowed the BVC to consolidate the participation of new players across the value chain. Structural changes to the regulatory and fiscal frameworks that were driven by the BVC during the last decade made portfolio investment more favorable for foreign investors, attracting this type of investment and allowing it to grow at a more rapid pace when compared to other periods: The share of foreign investors in the equities market has grown from 4% to 15% over the last three years.

Nonetheless, the purpose of the BVC is to keep attracting long-term structural investment that supports corporate growth. According to its directors, the aim of the BVC is to achieve a share similar to that of other more developed markets in the region, where foreign investors are responsible for around 30% of the traded volume in equities. In order to support this goal the Exchange has implemented a plan, named Colombia InsideOut, to promote its market in the world’s main investment centers, supported by the main issuers and governmental and monetary authorities. Colombia Insideout, has enabled meetings with more than 500 investors in London and New York over the last two years.

Also at the forefront of internationalization is the Integrated Latin American Market (MILA), which seeks to become a new model for regional investment and an alternative to Brazil. MILA counts on the participation of the stock exchanges, the central securities depositories and the regulators of Chile, Colombia and Peru. These countries have brought their objectives in line with the aim of creating an area of common interest that allows them to become more relevant in terms of global investment.

As a result of this integration, MILA is today the number one market in Latin America in terms of number of issuers, the second in terms of market capitalization, and the third in terms of traded volume. This initiative has had such an impact that within only two years of operating the entry of Mexico as a new member is already being considered. Mexico is currently taking the legislative steps necessary for its incorporation in the near future.

Quality

Improving the overall quality of the local market is one of the main ambitions of the BVC, since it understands this would clearly set it apart from other similar markets which also seek to attract international investors. For this reason it is constantly working to adopt best practices and trading standards, but above all it is continuously encouraging market participants to do the same.

In line with this approach, the BVC adopted the so-called “IR Recognition”, an awareness-building program whose aim is to prompt issuers to adopt better internal policies regarding investor services, which are far stricter than those required by law.

This crusade has been more successful than expected, and today 29 securities issuers are recognized as companies committed to providing good information to their shareholders. These issuers have implemented practices such as the quarterly publication of consolidated financial reports, quarterly meetings to disclose results, the creation of investor relations offices, and even the modernization of their Internet portals, where they already include information in English so that foreign investors are able to understand their content.

The Future

The BVC currently works on various areas related to the internationalization process, the strengthening of infrastructure, and the overall quality improvement of its markets. All these areas, according to the company, provide the basis from which it hopes to consolidate its corporate purpose in the face of the challenges imposed by the globalization of the securities markets and the growing demand for resources on the part of a burgeoning economy such as that of Colombia.


Norton Rose Fulbright: Best Insurance Team, Legal Awards, 2013

The CFI.co Judging Panel considers NRF’s Insurance Team as exemplary and an obvious choice as Best Insurance Team, UK in our 2013 Legal Awards programme. This firm has an impressive global reach and a tremendous range of lawyer skills and resources relevant to all areas of insurance concern. According to the panel, “NRF provides great client services and enjoys an outstanding reputation in the industry.”


MetLife: 150 Years of Service in the United States and Winner of the CFI Insurance Award, 2013

MetLife (Metropolitan Life Insurance Company) can trace its roots back to 1863 and a predecessor company offering insurance to assist US civil war combatants. After five years the change to the present name was made with the accompanying shift in focus to life policies. By 1930 around twenty per cent of the country’s population had taken up coverage with this company. MetLife is now the largest life assurer in the United States offering a comprehensive array of innovative insurance, retirement and savings products.

The CFI Judging Panel pointed out that, ‘MetLife has always taken its social responsibilities very much to heart. The MetLife Foundation – setup in 1976 – is an extraordinarily generous giver and after 9/11 the Company invested $1 billion dollars in publicly traded stocks to help restore confidence. This insurance company is one of the best managed corporations in the United States and we have no hesitation is confirming the award, ‘Best Insurance Company, United States, 2013’.


Hughes-Castell: CFI Award for Best Legal Recruitment Consultancy, Asia, 2013

There are many key components to the achievement of sustainable economic growth and - by no means least - is the availability of highly talented and professional legal services. In the fast growing Asian markets it has at times been difficult for both companies and law firms to keep pace with the increasing need for highly skilled legal teams.

As the Asian economies have grown, Hughes-Castell has done more than just keep pace with the increased demand for top lawyers. To help meet this demand, Hughes-Castell has been a pioneer in developing an efficient and effective network across Asia. However, it is not the firm’s reach that sets it apart: Successful placement is, of course, about far more than matching the skills of candidates to clients’ needs. Hughes-Castell has an outstanding track record in understanding both their candidates’ and clients’ aspirations, their needs and value sets. This has resulted in an enviable track record for long-term successful pairing of candidates and clients. This lack of volatility is crucial given the ever increasing legal complexities of domestic business within Asia and international trade and the internal opportunity cost of high staff turnover.

In declaring Hughes-Castell winners of the award ‘Best Legal Consultancy, Asia, 2013’, the CFI judging panel is confident that clients that use the firm’s services will find the right candidates to help their companies grow and will assist law firms in providing the highest levels of representation to clients. Integrity is at the heart of good legal service and the strength of nominations received by Hughes-Castell strongly suggests that integrity is also at the heart of Hughes-Castell operations.


CFI Award Winner Euler Hermes, GCC: Doing Spectacularly Well in 2013

According to the CFI Judging Panel Euler Hermes GCC, is the ‘Best Credit Insurance Services and Solutions Provider in the Middle East’. The award is made for the year 2013 during which the growth of recent years continued and brought forth strong and satisfying profitability. By all measurements, Euler Hermes GCC is doing spectacularly well in the region and particularly so in the UAE, Qatar and Saudi Arabia.

The Panel congratulates this company on the quality of its service to clients and the loyalty that their clients have shown in return. Retention, growth and loss rates are far superior to those of the competition and 2013 looks set to show significant improvements despite the outstanding performance of the previous year.

Euler Hermes GCC invests strongly in personnel and insists on superior levels of training. CEO Massimo Falcioni is applauded by the panel for his inspired leadership. Falcioni, 46 years old arrived at Euler Hermes via senior management appointments at Exxon Mobil, Philip Morris International and Volkswagen Financial Services. Since 2008, Massimo Falcioni successfully managed the development of Euler Hermes business unit in Italy, the third largest market for the Euler Hermes Group, before joining Euler Hermes GCC in Dubai as CEO in 2012.

The Panel pointed out that, ‘Much has been achieved by Euler Hermes, GCC, during the past two years.’


Grupo Bancolombia takes the CFI Investment Banking Award for 2013

According to the CFI.co Judging Panel, Grupo Bancolombia is the ‘Best Investment Bank, Colombia, 2013’.  The investment management team comprises around 60 high level professionals who pride themselves on strong local knowledge, delivery to the highest international standards and close relationships with clients. During the past five years the team has closed 125 transactions at a value of $35 billion benefiting enormously from the Bank’s strong client portfolio.

The Panel also commented on the transparency, high levels of corporate governance and good risk management at the Bank and pointed out that, ‘The investment products at Grupo Bancolombia are excellent and their team is highly innovative. We have no hesitation in decided in this bank’s favour. Grupo Bancolombia is a leader in the domestic market and a leader in the region.’


The Odebrecht Foundation Wins CFI Award for Community Engagement, Brazil, 2013

The Odebrecht Organisation is a very successful and highly diversified Brazilian group which is active in the domestic engineering and construction sectors and invests heavily in energy and infrastructure projects. The history of the business can be traced back to the arrival in Brazil in 1856 of Emil Odebrecht as an immigrant from Germany.

Family member Norberto set up the Odebrecht Foundation in 1965 with a view to offering additional support to employees. After some years individual Odebrecht companies took up these responsibilities allowing the Foundation to focus on matters of public concern. Simply put, Odebrecht set out to help government improve the quality of life of Brazilian society. According to the CFI Judging Panel, ‘Much has been achieved in Brazil through Odebrecht dedication and generosity’.

The focus for Odebrecht has always been on the education of Brazil’s young people. The first priority was to encourage progress in the north east and particularly in the most needy regions not properly benefiting from the national economy. In 2003, the Foundation partnered with government and other concerned parties to bring support to Bahia Southern Lowlands. The laudable objective here was to allow youth to remain in the region by delivering work opportunities and generally improving lifestyles. This resulted in a United Nations Public Service award in the year 2010.


The Inspirational Andy Kwabena Asamoah and A&C Developments: Corporate Leadership Award, Ghana, 2013

We receive many nominations of worthy individuals and companies for the consideration of our Judging Panel but only rarely do we come across such highly impassioned nominations as those this year naming Andy Kwabena Asamoah. His achievements stand out as an example of what tenacity can deliver and his life story provides inspiration to others of what can achieved through hard work, education and ambition.

Born in Ghana in 1945, the young Mr Asamoah fully understood that education was going to be the key to his future success. He worked at a local market from the age of 12 to fund his education and at the age of 22 was accepted by the World Health Organisation (WHO) to work in a regional office. Mr Asamoah assumed a pattern of studying while working and his academic achievements allowed him to further develop his career at the WHO. This culminated in Mr Asamoah qualifying as a barrister and then becoming a Director in Geneva for the WHO.

Upon retiring from the organisation Mr Asamoah returned to Ghana and risked everything he had built up during his career to create Ghana’s first shopping complex and founded A & C Development. Under Mr Asamoah’s leadership the company is now a key player in developing the country’s multi-purpose shopping mall sector. Having attracted investment from the IFC in 2012 A & C is set to further help drive forward the Ghanaian economy.

The panel feels that Mr Asamoah is true example of a corporate leader and should be seen as an example to youngsters struggling to get through school and an example to successful members of the African diaspora thinking of bringing their skills back home. As such, the panel feels humbled by his example and are delighted to declare Mr Asamoah and A & C Developments winner of the CFI Corporate Leadership Award, Ghana, 2013.


CORE Securities, Tanzania, Our Advisory Brokerage Winner in East Africa

The CFI Judging Panel congratulates CORE Securities Limited, on its advisory services and is pleased to name this firm, ‘Best Advisory Brokerage, East Africa, 2013’.

The Panel considers CORE to be, ‘An efficient and innovative brokerage that offers investors consistently strong advice and good service. CORE sensibly counsels investors to think big, begin small and begin now.’

Core was first licenced fifteen years ago and has regional ambitions which the Panel consider to be realistic. The firm has good solid research capabilities and an ethical approach to client relationships.


Dar Al Tamleek Company: Best Home Mortgage Provider, KSA

Dar Al Tamleek Company has a zero default record on its home loan portfolio for the past five years. The company was set up after the global financial crisis and according to the CFi.co Judging Panel has been smart enough to learn from the mistakes of others to create a fine business that now claims a 12% market share. This accolade is not the first of its kind as Dar Al Tamleek has long been recognised as a major mortgage market player in the kingdom. The prevailing attitude that guides the company’s business is “We Are Here to Help”. This is also the message Dar Al Tamleek delivers to its clients. In practical terms, this message aims to emphasize that the company matches the financial products offered to the specific and circumstances of clients ensuring their ability to repay loans is not compromised. The Company is our 2013 winner.


Bahamas Private Bank Wins CFI Financial Advisory Services Award

BSI Overseas (Bahamas) Ltd is a wholly owned subsidiary of one of Switzerland’s oldest banks and part of the giant Generali Group.

This traditional private bank sets out to protect and increase client wealth and does so by providing the highest quality financial advisory services.

According to the CFI Judging Panel, ‘The importance of implementing a strong corporate governance policy is well understood at BSI where there is a clear and unwavering focus on considering the client’s best interests first. The management philosophy is to provide cost effective advice and stay firmly on the client’s side at all times’.

The Panel has no hesitation in confirming this Bahamas bank for the award ‘Best Financial Advisory Services, Bahamas, 2013’.


Lavrynovych Wins CFI 2013 Legal Award, Ukraine

According to the CFI Judging Panel, the Ukraine firm Lavrynovych & Partners delivers a comprehensive range of legal services to international as well as domestic companies. Client confidence and satisfaction is certainly very strong, there is constant focus on international best practice and this firm is well thought of by the international ranking agencies. The year 2013 has been a good one for Lavrynovych and the most successful in a proud nine year history of service. The Panel is delighted to confirm the award ‘Best Corporate & Commercial Team, Ukraine, 2013’.


For the Second Year Running: Gulf African Wins the CFI Islamic Banking Award, Kenya

Established five years ago as the first Islamic bank in East Africa, Gulf African is now the largest such operation in the region. According to the CFI judging Panel, ‘This bank has transparency as a core concern and exhibits a thoroughly innovative approach to meeting the needs of its customers. Gulf African is to be congratulated on recognising when they did the increasing market demand for Shari’ah compliant products and services in this part of the world. They have responded magnificently to the challenge. Gulf African Bank has won the Best Islamic Bank Award, Kenya for the second year running because management insists on putting the interests of clients in first place. We are delighted to see that this bank is moving from strength to strength on the basis of this commitment.’

For more information, please visit www.gulfafricanbank.com


CFI Announces Arab Bank as 2013 Award Winner in Jordan

Arab Bank Jordan is a major player in the MENA region with a strong and consistent record of delivering products and services that truly meet the needs of clients. The CFI Judging Panel describes the Bank as an outstanding financial institution that fully deserves the accolade ‘Best Commercial Bank, Jordan, 2013.’

Arab Bank Group performance this year has been solid recording an increase in profitability of 15.4 percent. Liquidity levels are important to this bank and its loan/deposit and capital adequacy ratios are very comfortable and significantly ahead of Central Bank requirements.

The Bank has a very impressive regional and international network with 600 branches operating across five continents, According to the Panel, ‘Arab Bank Jordan expertise and dedication has offered much needed support to Arab economies and will continue to do so in future years’.


Bahrain Bourse Wins 2013 Award for Corporate Governance, GCC

In 2010 the Bahrain Bourse was established as successor to the Stock Exchange and all operations moved to Bahrain Financial Harbour. The Bourse is carving out a leadership role in the region and is insistent on maintaining a ‘fair, transparent and efficient market.’

The CFI Judging Panel was impressed by efforts at the Bourse to improve on and ensure continuous good corporate governance and noted that, ‘The results achieved so far do stand out as an example to other organisations in the region.’

The Bourse took its responsibilities to the Ministry of Industry & Commerce and Central Bank very seriously when responding to the requirements of the Corporate Governance Code (2010). Furthermore, since appointing an external consultant to give advice on CG matters a number of steps have been taken to allow more transparency and better explain roles and objectives. The Panel commented that management of the Bourse appears to have a well thought out strategy for the future and that a strong focus on good corporate governance is very much part of their plans.

The Panel was pleased to see that the Bahrain Bourse is also encouraging their listed companies to improve on corporate governance and making efforts to persuade small and family business to come to market.

The CFI Judging Panel is pleased to present the award for Best Corporate Governance, GCC, 2013, to the Bahrain Bourse.


Amaar is the CFI Real Estate Developer Award Winner in Palestine

Few countries have to face Palestine’s challenges on the road to sustainable economic growth. After years of enforced stagnation, the economy is now providing the foundations for a better future.

The Amaar Group is playing a key role in laying down these foundations. Demands on the real estate sector to deliver effective solutions to support growth and respond to housing needs have long required developers to make careful and difficult decisions. Amaar has been getting these decisions right - from creating a diverse and well distributed land-bank to ensuring a well-balanced split of activities between commercial, tourist and residential property development.

These achievements combined with very high levels of corporate governance (which are helping to attract further investment) have resulted in an operation that is developing projects to enhance the social fabric and support the economy of Palestine. But additionally these efforts are helping shift the balance in Palestine between financial aid and investment opportunity.

Accordingly, the CFI judging panel is delighted to declare Amaar Group ‘Best Real Estate Developer, Palestine, 2013’. The Group stands out as an example to others in the region and also the world at large - showing how intelligent and thoughtful real estate developers can truly work to the benefit all stakeholders.


Vattanac: Best Corporate Governance - Cambodia 2013

As the Cambodian economy continues to grow, the importance of effective corporate governance can hardly be overstated. Good corporate governance should be an enabler for growth not a tick box exercise: Companies should not limit themselves to conforming to local legal requirements but additionally seek out best practice from around the world. The judging panel found Vattanac Bank to be one organisation that is doing precisely that. The Bank has constantly strived to achieve the highest levels of governance seeing this as a framework by which sustainable growth can be achieved. Vattanac Bank has also been active in helping other enterprises in Cambodia understand the advantages of good governance. The results that Vattanac Bank is achieving stand out as an example not just for Cambodia but for the region as a whole. The panel felt that the investment that Vattanac Bank has made in good governance is indicative of a Bank that is benefitting all of its stakeholders in a fair and equitable fashion.


Bentley Powers Ahead in Customer Satisfaction: CFI.co Award Winner, Middle East

[caption id="attachment_1130" align="aligncenter" width="587"] Janice Hinson, Marketing Manager for Bentley - Middle East, receiving an award from CFI.co (Tor Svensson, left, and Marten Mark, right) in front of the new Flying Spur[/caption]

There has been powerful performance at Bentley Motors, Middle East this past year. Dubai is the home of a specially designed Bentley workshop which is the largest such facility anywhere in the world. And the welcome extended to the Continental GT, launched in 2012, has resulted in a large slice of Bentley’s worldwide business coming from this part of the world.

The Judging Panel commented that, ‘To say that Bentley customers have nothing to complain about is an extreme understatement. We have no hesitation in naming Bentley as winner of the award ‘Best Customer Satisfaction, Middle East, 2013’. Outstanding customer service ensures that Bentley delivers one of the world’s most desirable driving experiences’.


NAB is Named Best Private Bank Australia, 2013

National Australia Bank is one of the largest financial institutions in the country and among the top twenty world banks by market capitalisation. The bank was founded in the late nineteenth century. Its proud heritage and the considerable strengths developed over the years plus the high quality of present management offer a compelling opportunity to private banking clients. NAB is a named Best Private Bank, Australia in the 2013 Banking Awards programme by the CFI.co Judging Panel.


Award Winner Econet Wireless Brings Positive Change in Africa

There is no question that efficient and affordable communications are transforming lives and creating exciting opportunities for the African people.

The CFI award for Best Telecom Services & Solutions, Africa this year goes to Econet Wireless. We are recognising a corporate culture of innovation that helps people find a more satisfying lifestyle. Their slogan says that Econet is ‘Inspired to Change Your World.’ And, according to the Judging Panel, ‘Management’s enthusiasm to bring about positive change is obvious, sincere and highly commendable.’

The focus at Econet is to leverage telecoms experience to facilitate sustainable growth and the Company is ready to reach out to communities and assist the underprivileged. The Panel applauds the work of Econet Wireless in the strong belief that this company is truly making a real contribution to quality of life in many parts of Africa.


Gulf Custody Company Wins our GCC Fund Management Award for 2013

According to the CFI.co Judging Panel, ‘Gulf Custody Company is assuming a leadership role in fund custodian and settlement services in the GCC. The Company is an obvious winner of our 2013 award.’

Gulf Custody was established in Kuwait in 2001, entered Bahrain in 2003 and Oman in 2010. The only specialist in the region, the appropriately termed GCC is not distracted by other unconnected business activities. They concentrate entirely on what they know best.

The Panel forecasts a promising 2014 for this well managed and promising company and congratulates Gulf Custody Company on this success.


Mori Hamada & Matsumoto Wins Japan Dispute Resolution Award

MHM is the CFI.co Best Dispute Resolution Team winner in our 2013 Legal Awards programme. According to the Judging Panel, “The firm’s strong litigation work and excellent dispute resolution skills are valued core competencies of long standing.” This unrelenting dedication to the quality and depth of services offered has resulted in MSM receiving the 2013 CFI.co Dispute Resolution Award, Japan. The judging panel applauds a firm that combines an aggressive and often victorious court room presence with considerations of a more pragmatic nature such as the clients’ best economic interests and the most appropriate resolution of the issue at hand.


Skrill wins the CFI.co Award for Money Transfer Solutions

Established twelve years ago, Skrill with its 36 million customers in 200 countries, is one of the world’s leading digital payment resources. This fast growing technology company’s objective is to become the first choice for online payments.

The CFI.co Judging Panel was impressed by Skrill’s response to the World Bank’s call to, ‘Step Up and Enable the Masses.’ According to the judges, ‘Skrill is helping bring down the cost of the financial transfers of the world’s 250 million migrant workers with technology they can trust. Skrill also offers efficient and economical services to corporate clients’.

The Panel is delighted to present the award to Skrill for ‘Best Secure Money Transfers, Global, 2013.’


The Saudi Stock Exchange Wins the CFI.co MENA Award for 2013

The importance of capital markets in helping drive sustainable economic growth is hard to overestimate. The CFI.co judging panel was extremely impressed with the achievements of several stock exchanges in the MENA region. However after careful consideration they decided to recognise the Saudi Stock Exchange (Tadawul) as ‘Best Stock Exchange MENA 2013’. The work the Exchange and the regulatory authorities have been doing to prepare for the opening up of the Saudi market internationally has been exemplary. The Saudi Stock Exchange is executing a well prepared and skilfully thought out plan that will increase market ability to help drive growth not only in Saudi Arabia but in the region as whole. The judges commented on the solid foundations and outstanding expertise of the Exchange.


BCI: Our Fund Manager Winner in Chile

The CFI.co Judging Panel rates BCI Investment Management very highly and has announced that the award for ‘Best Fund Manager, Chile, 2013’ goes, with their congratulations, to this company. BCI works to high levels of operational efficiency and has strong risk management capabilities. According to the CFI.co Judging Panel, ’BCI ends the year on a high note providing them with a strong start to 2014. This firm has a good track record over the years and a history of strong and consistent portfolio managers. We wish them well.’


Best Islamic Corporate Finance Boutique, Europe Award is Announced

Excellencia Investment Management, Luxemburg, established in 2012, is CFI.co’s promising newcomer to the market. This firm focuses on long term investment in private companies according to the principles of Islamic finance.

The Judging Panel feels that they make have discovered a rising star as Excellencia is commencing operations as an Islamic bank in 2014. Management is clear that this bank will be offering products and services for non-Muslims as well as Muslim clients and staffed by professionals recruited in Europe.

The judges commented that, ‘The management of this new bank can be relied upon as a responsible ambassador for Islamic banking. Their products and services are likely to attract a diverse client base and encourage the development of Islamic banking services in continental Europe’.


ESN Partnership Wins CFI.co Award for Equity Research in Europe, 2013

The ESN has successfully created a pan-European partnership which covers equity research and other services to the benefit of over 1,000 institutional investors. Over the past two decades, ESN has managed to innovate in the equity research market by setting meaningful common standards of cooperation among its Members on capital markets coverage in the main European countries (today 9 members in 9 countries).

CFI.co’s Judging Panel recognizes that as these times require unprecedented transparency and good corporate governance the requirements for timely and trusted analysis reporting are as demanding now as they have ever been.

ESN follows the principle that all members are equal. The Partnership is based on the concepts of "territoriality" and "exclusivity". Thus, there is only one member per country as each member has full responsibility for the country where it operates. This places extra responsibilities for the ethical and professional standards on each member – as well as the interdependence between members. The evolution of the ESN partnership means that the cooperation now also includes corporate finance in the equity, debt and bond markets.

Giorgio Zancan, the CEO of ESN comments: “We are delighted by the recognition of the prestigious CFI.co finance magazine for the advances (we have made) in establishing the highest ethical and professional standards for equity markets research. ESN is committed to continue to innovate and strive to better serve our institutional investor clients”.


Darrois Villey Maillot Brochier: CFI.co Dispute Resolution Team Winner, France, 2014

This firm has won a deservedly strong reputation for its arbitration and litigation services since its establishment in Paris in 1987.

The CFI.co Judging Panel congratulates DVMB on its outstanding team of legal professionals and the services they offer saying that, ‘The respect accorded to the leading names at the firm is easy to understand. We have no hesitation in naming Darrios Villey Maillot Brochier as ‘Best Dispute Resolution Team, France’ in our 2014 Legal Awards Programme.’


CFI.co Legal Awards, 2014: Baker Botts Wins US Energy Team Award

According to the CFI.co Judging Panel, Baker Botts LLP, leader in the field for well over 100 years, was the obvious choice for the award, ‘Best Energy Team, United States, 2014’.

The practice started out by serving the Texas oil industry at the turn of the 20th century, has developed comprehensive global expertise and, more recently, acquired valuable alternative energy skills following some significant project work in North America.

The outstanding historical achievements of the practice, its present excellent capabilities and potential for continuing in a leadership role were applauded by the judges.


Deutsche Bank: CFI.co Private Bank Award Winner, Germany

Deutsche Bank is recognised by the CFI.co Judging Panel as ‘Best Private Bank, Germany, 2014’ in recognition of its outstanding array of asset and wealth management services and high level of professional talent placed at the disposal of clients.

This bank is an innovator in the field, has around one trillion Euros in invested assets and is, of course, a major player amongst the world’s banking elite.

The Panel congratulates Deutsche Banking on their sterling work in the field of private banking.


Afghanistan International Bank is the CFI.co Corporate Governance Award Winner, Afghanistan

Afghanistan International is a well trusted bank largely because of its overwhelming concern for and attention to the rigours of good corporate governance. Management’s view is that only a bank with strong corporate governance can truly succeed. The CFI.co Judging Panel agrees and is delighted to confirm this bank’s award for, ‘Best Corporate Governance, Afghanistan, 2014’.

Performance ratios at the Bank are in line with best practice, board leadership is strong and there would appear to be no political or other interference in operations. The Panel is impressed with Afghanistan International Bank’s conduct and commitment to a healthy and far-reaching corporate governance programme. The judges commented that, ‘AIB is a worthy winner and an excellent example to the wider business community in the country’.


RAK Insurance is ‘Top of the Tent’: CFI.co Award Winner, 2014

RAK Insurance has won the award for ‘Best Corporate Governance, GCC,’ in the CFI.co Insurance Awards for the year2014. RAK is the popular shortened name of one of the United Arab Emirates namely, Ras al-Khaimah (literal meaning of the Arabic: ‘Top of the Tent’). According to the CFI.co Judging Panel, the concern for good governance at RAK Insurance places this company securely at the top of the tent.

The judging panel is aware that RAK Insurance is operating beyond the letter and spirit of the regulatory system and is at the forefront of industry best practice. As management says, ‘The question that is always in mind here is this: What else can we do?’

Our award winner is healthily obsessed with good corporate governance and the management style at RAK Insurance is that of a sincere concern for all stakeholders. RAK Insurance is a transparent organisation that is passionately concerned about business ethics and it shows.


Business Travel Award Goes to Singaporean Airlines

Singapore Airlines Business Class provides passengers pleasant entertainment, fine dining and a good night’s sleep in a very well thought out and spacious environment.

All in all, voters in our 2014 Customer Satisfaction Awards Programme make it clear that flying with Singapore is a wonderful experience with outstanding inflight services.

The CFI.co Judging Panel is pleased to award this airline ‘Best Customer Satisfaction, Business Travel, 2014.’


Al-Waseet Wins CFI.co Brokerage Award, Kuwait, 2014

Al-Waseet Financial Business Company is named ‘Best Securities Brokerage, Kuwait’ in the CFI.co 2014 Exchanges & Brokers Award Programme. The Judging Panel were unanimous in their decision and congratulate Al-Waseet on their success as a well-established, strong and resourceful ISO certified broker.

A leading player in Kuwait for the past seven years, Al-Waseet has captured a very healthy share of the market and boasts a large and extremely capable team of industry professionals.

This brokerage focuses most heavily on institutional clients and also services major international banks. Al-Waseet is well capitalised and ready for further expansion. According to the Panel, ‘Al-Waseet is likely to develop significantly its business in the region as well as at home during the next few years.’


Sustainability Award and CFI.co Top 100 Listing (2014) for Bakkafrost: Faroe Islands

The CFI.co Judging Panel was unanimous in declaring Bakkafrost winner of the 2014 award for Best Sustainability Programme, Denmark. Bakkafrost is the premier producer of salmon in the Faroe Islands, an autonomous country within the Kingdom of Denmark. Established in 1968 and farming salmon since 1979, Bakkafrost realised early in its business cycle that sustainability was crucial to its success and that a healthy environment allows for healthy fish. Bakkafrost has developed techniques that negate the need for antibiotics resulting in significant sustainability gains. The survival rate of fish harvested by Bakkafrost is significantly higher than that of the competition elsewhere in the world and by any measurement the firm is progressing magnificently. This listed company has experienced phenomenal growth and Bakkafrost has also been named in the CFI.co Top 100 List for the year 2014.


CFI.co Real Estate Award Winner Announced: Sultan Properties, UAE, 2014

Sultan Properties has been declared winner of the CFI.co award ‘Best Real Estate Agent, UAE’ in our 2014 Real Estate Awards Programme.

The Judging Panel was very impressed by the consistently good quality of advice provided by Sultan. Their clients were protected substantially during the crisis of 2008 and are benefiting from their outstanding market wisdom in these much happier days.

According to the Judges, ‘Sultan Properties has reaped the benefits of a realistic view of the market and this has translated into good results including those for 2013. The market is moving forward very well and management expects even better results this year. We share their confidence.’


Vestas Wins Corporate Governance Award in Denmark

Repeating their success of last year, Vestas is named winner of the award ‘Best Corporate Governance, Denmark, 2014’.

Vestas is to be congratulated on a second consecutive year win in a country where the overall standard of corporate governance is indeed very high.

Once again the Judges pointed out that, ‘this is a most transparent organisation that stands ahead of the competition in a very competitive field. Vestas does many important things extremely well and the level of corporate governance is exemplary.’


Clifford Chance is Named ‘Best Dispute Resolution Team, Banking, UK, 2014’

Clifford Chance is of course a massively strong firm across many disciplines but the Judging Panel has singled out its work in Dispute Resolution, Banking, for recognition in the 2014 Legal Awards Programme.

The firm has 500 lawyers around the world available for dispute resolution and litigation work. The team in London has worked on some very interesting banking matters and is described as one of great litigators with sound strategic thinking. The Judging Panel congratulates Clifford Chance on outstanding performance in this area.


Online Winner in Spain: Self Bank Reacts to Customer Needs

Self Bank is the CFI.co Online Banking Award winner, Spain, 2014. According to the Judging Panel this bank is ‘properly focused on determining appropriate client solutions and providing that which is needed rather than dreaming up fancy add-ons. Self took full advantage of opportunities created in the wake of the Banking Crisis when people in Spain started to question their traditional loyalties. They are doing very well in the market now because of a well thought out and innovative focus on actual online banking requirements. This translates to a secure and effective banking platform.’


XacBank, Our Corporate Governance Winner in Mongolia, 2014

The CFI.co Judging Panel has named XacBank as winner of the 2014 award for Best Corporate Governance, Mongolia.

The judges commented that, ‘this winner had the foresight to plan for good governance from an early stage in the life of the business. XacBank started out with a small project 16 years ago, has grown magnificently and now boasts assets of $1 billion. The XacBank motto is ‘People, Planet, Profit’ and this organisation is moving forward with confidence and a desire to always do the right thing. We wish XacBank well and congratulate management on this well-deserved accolade.


The Right Path to Sharia-Compliant Banking Systems: CFI.co Announces Winner for 2014

The outstanding Kuwaiti headquartered software company Path Solutions is the 2014 global winner of the CFI.co award for ‘Best Sharia-Compliant Banking Systems’.

The CFi.co Judging panel commented favourably on ‘Path’s outstanding range of Sharia-compliant integrated solutions that have been taken up successfully by some 100 Islamic finance institutions throughout 33 countries. Specifically the iMAL Islamic core banking system allows clients to bring to market secure and competitive offerings quickly, economically and with full and well-placed confidence’.

[caption id="attachment_1251" align="aligncenter" width="379"] Group Chairman & CEO: Mr. Mohammed Kateeb[/caption]

‘Path Solutions has a deservedly strong share of the market. This company out-invests its peers in terms of critically important research and development, employs an outstanding team of some 400 professionals, and to cap all this it is by all accounts a very happy environment in which to work. We wish Path Solutions all success in the years to come’.


Best Financial Comparison Site, Middle East, 2014: Souqalmal.com

The CFI.co Judging Panel considers Souqalmal.com to be a highly credible and accomplished site noting that, ‘this award winner clearly has integrity and is doing a superb job. Souqalmal.com is a young company that has grown phenomenally since its establishment two years ago and its site is available in the English language as well as Arabic.’


Kingdom Hotel Investments (KHI): Partnership Prospects in Emerging Markets

HRH Prince Alwaleed bin Talal, a member of the Saudi Royal Family, is the founder of KHI and of its owner Kingdom Holding Company. Prince Alwaleed is a valued partner of many corporations throughout the world and takes investment positions in various industries. He is a very determined and successful investor and is a good partner to have on board.

Kingdom Hotel Investments, headquartered in Dubai, seeks out higher-end growth potential in emerging markets and has partnered with such names as Four Seasons, Raffles, Fairmont, Intercontinental and Movenpick.

The CFI.co Judging Panel has no hesitation in naming this company as, ‘Best Hotel Investment Partner – Global, 2014.’ The panel congratulates KHI on this award and also applauds the company for its positive CSR efforts.


Bayer: Best Supply Chain Management Team Europe 2014

With global sales up by close to 15% and now standing at just over €12bn, Bayer AG is forging full-steam ahead. The German pharmaceutical giant now employs in excess of 12,000 people worldwide. The company, perhaps best known as the inventor of aspirin, has over the years diversified its operations to become a truly global chemical group – present on six continents – with a large stake in agricultural products and a materials science division, in addition to its long-standing pharmaceutical operations. Bayer is presently in the process of expanding its business in the Asia Pacific Region.

SyncForce, the world’s premier brand data management consultancy, ranks Bayer third on its regularly updated list of strongest brands in the United States. Bayer scores particularly high in terms of both brand awareness and positive perception. The company is only trumped – albeit barely so – by Apple and Walt Disney.

In its ongoing quest to further improving its social, economic, and environmental impact, Bayer has joined the Pharmaceutical Supply Chain Initiative Group (PSCI). This group aims to involve all stakeholders to fine-tune business practices and thus ensure optimal performance in key areas such as ethics, labour relations, health and safety standards, and environment and management systems.

PSCI members adhere to a carefully defined code of conduct that includes the continuous evaluation of processes, internal and external audits, and immediate adjustments in case suppliers that do not (yet) pass muster.

The CFI.co judges have taken note of Bayer’s excellent graduate training programme in Europe for supply chain management professionals. The in-depth courses and workshops extend across the company’s healthcare, crop science, business services and technology services divisions.

The programme takes two years to compete and involves hands-on study in Germany and elsewhere. The outcome has been most impressive, resulting in consistently outstanding supply chain management which benefits Bayer in a number of ways. The judging panel wishes to acknowledge this accomplishment and congratulate the company on it.

The CFI.co judges are therefore pleased to confirm that their 2014 award for Best Supply Chain Management Europe goes to Bayer.


Engineering, 2014:  Drilling Team Award goes to Spectrum

Spectrum Geotechnical Services Limited is the CFI.co 2014 winner of the award for ‘Best Drilling Services & Solutions Team, Nigeria.’

The Judging Panel commented that, ‘Spectrum has been active in Nigeria for the past eleven years. There has been great improvement in the industry during this time and Spectrum can claim to have made their mark. Spectrum is working well with internationals for direct importation of materials and on contract work too. Safety really does come first at Spectrum and this company has a fine record. We sense a commendable concern for the environment too.  Spectrum is a very worthy winner.’


Stockbrokerage GDSL: Our Winner in Bangladesh, 2014

An industry leader, Green Delta Securities Limited (GDSL), is a fully owned subsidiary of the Bangladeshi insurance company of the same name.

According to the CFI.co Judging Panel, ‘GDSL has an excellent track record in advising institutional clients, HNW individuals and other experienced investors.

Client service strengths at this brokerage are outstanding and management sets out to be innovative, making good use of technology and providing strong support services generally. We are pleased to confirm GDSL as the winner of our award Best Stockbrokerage, Bangladesh, 2014’.


Tradition and Modernity at Coutts: Our UK Banking Award Winner

Coutts & Co, established over three hundred years ago, is very much seen as the bank of the rich and famous. It is owned by the Royal Bank of Scotland and acts as its wealth management division.

The CFI.co Judging Panel, confirming the award ‘Best Private Bank, UK’, points out that, ‘Coutts is doing its clients proud and its reputation for quality service is thoroughly deserved. For a bank so steeped in tradition, Coutts is very innovative and is certainly an important and responsive part of the modern age.’


Building Relationships: CFI.co Private Banking Award Announcement, New Zealand

BNZ wins our Best Private Bank Award, New Zealand, for the year 2014.

This bank claims to be taking a holistic approach to advising clients and the CFI.co Judging Panel comments that, ‘BNZ does indeed build strong and lasting relationships and responds well across a broad range of financial concerns relevant to high net worth individuals. We are certainly hearing good reports’.


ABN Amro Commercial Finance Wins Award for Best SME Financing Solutions, United Kingdom

According to the CFI.co Judging Panel, ‘ABN Amro Commercial Finance, part of the Dutch banking giant, offers an impressive range of products and services to allow SMEs in the UK to move to the next level despite the constraints of a conservative bank lending environment.

ABN’s advisory service to small business is second to none and their factoring and invoice discounting activities have been recognised as exemplary. This organisation understands and responds to the challenges of small business in a robust and imaginative way. This is a very worthy winner of our 2014 award.’


Riyad Bank Wins CFI.co Trade Finance Award

Riyad Bank has dedicated trade finance centres at each of the three main commercial cities namely Jeddah, Riyadh and Damman.

Each centre offers large bank benefits to clients and according to the Judging Panel, ‘can be relied upon to offer good advice, appropriate trade facilitation products and very helpful services to its roster of appreciative clients. The Panel has no hesitation in naming Riyad Bank as ‘Best Trade Finance Team, Saudi Arabia, 2014.’


BNY Mellon: Winner of the CFI.co Wealth Manager Award, US

The CFI.co Judging Panel has named BNY Mellon as winner of the prestigious award, ’Best Wealth Manager, Unites States, 2014’.

Client retention at Mellon is strong and the Bank is a superb relationship manager. This truly outstanding name in North American banking, which can trace its heritage back 230 years, is the result of a 2007 merger between Bank of New York and Mellon Finance.

The panel congratulates BNY Mellon, the largest deposit bank in the world, on its outstanding focus on and great success in providing the most sophisticated wealth management services.


CFI.co Announces 2014 Women’s Banking Team Award to Westpac

Westpac’s ‘Women’s Markets Team’ is unique in the Australian banking industry, providing clients with strong networking opportunities as well as significant education and information resources.

According to the CFI.co Judging Panel, ’Westpac further supports women in the community in a variety of meaningful ways that show concern for their rights, economic empowerment, healthcare and self-sufficiency - not only in Australia but throughout the world. We are delighted to confirm Westpac Bank as Best Women’s Banking Team, Australasia, 2014. This is the longest established bank in Australia, arguably the first to recognise the importance of women’s contribution to the economy and an organisation that benefits significantly from the banking activities of its female clients.’


CFI.co Trade Finance Award goes to Commerzbank

Commerzbank is a leader in the field and, according to the CFI.co Judging Panel, a very worthy winner of the award 'Best Trade Finance Team, Germany, 2014.'

The full range of trade finance products is available to clients and Commerzbank advisory services are of the very first order in a country that is committed to the most aggressive and efficient export creation. Commerzbank has delivered solid solutions to trade financing in even the most challenging of situations and has in place a very talented and devoted team of relationship managers ready to assist clients.


Old Mutual: Best Community Engagement Programme, South Africa, 2014

Responsibility is at the heart of Old Mutual’s  success over the past 165 years and the CFI.co judging panel is impressed  to see that core value has been translated into the community work of this financial group.

The panel feels that the way Old Mutual has used this core value of the business stands out as an example to others across the word. Many companies have extensive community engagement programmes but what sets Old Mutual apart is the way the company delivers directly through its business. By effectively leveraging the group’s key strengths the impact goes far further than the value of money spent. Old Mutual has perfected this approach over the years and stands out as an example of what can be achieved for the benefit of communities by combining responsibility and keen intelligence.


Santander Wins CFI.co Award for Outstanding Contribution to Education, Europe, 2014

The CFI.co judging panel is delighted to recognise Banco Santander’s outstanding efforts to support education.

The Santander University programme stands out as an example of how well thought out support can help foster better education and provide real world business experience for students. Since 1996, this banking group has allocated in excess of one billion euros to universities and research centres and last year the figure topped 140 million euros.

The panel comments that, ‘Santander listens to feedback from the academic institutions it partners with and the vision of the Bank’s dynamic Chairman Emilio Botín has made a very real impact on education in Europe.  We feel that this extremely shrewd banker has hit upon a highly desirable symbiotic relationship with universities. Who knows how many students now have accounts with Santander rather than rival banks as a result of this programme? It seems likely the support that the bank is giving to universities will move from strength to strength and that Santander’s financial stakeholders will also do rather well out of the initiative – thus ensuring that the Santander University Programme is truly sustainable’.


Caixa Seguros: Winner of the CFI.co Award for Best Life Insurance Provider, Brazil, 2014

Despite operating in a very competitive market place, Caixa Seguros has been delivering magnificently throughout the years. This year the company has won the CFI.co award for ‘Best Life Insurance Provider, Brazil’ which comes with the hearty congratulations of the CFI.co Judging Panel.

According to the panel, ‘Caixa Seguros is a leader in Brazil with a fifteen year history of good profitability and overall consistently strong performance. Product quality and technical skills are very high at CS and the Company has very good awareness of risk. With Life one of their core offerings, we have no hesitation in naming this company as our worthy winner in Brazil.’


Best Green Bank Cape Verde 2014: Banco Interatlântico

Banco Interatlântico aims and succeeds in remaining close to its customers in both the retail and corporate segments of the market. The third largest of Cape Verde banks, Banco Interatlântico has gained a well-deserved reputation for service-mindedness. Here, service-with-a-smile comes naturally. Due to its close proximity to customers, the Banco Interatlântico is uniquely positioned to be a true partner in ventures and lives.

The CFI.co Judges are particularly impressed by the number and scope of social projects sponsored or undertaken by the Banco Interatlântico. Employees are encouraged to bring worthy causes to the management’s attention. The bank also works in partnership with government ministries, schools, and other not-for-profit entities to further cultural, social, and educational projects.

Corporate social responsibility and sustainability are well-defined core values of Banco Interatlântico that are applied to day-to-day operations as a matter of course – not just policy and the Panel was particularly impressed by the efforts the bank is making in improving both its understanding and reporting on sustainability issues. The CFI.co Judging Panel has therefore no hesitation in naming Banco Interatlântico Best Green Bank Cape Verde 2014.


NCB, Jamaica Wins CFI.co Banking Award for Supporting SMEs

The National Commercial Bank, Jamaica has been named ‘Best SME Bank, Caribbean, 2014’ by the CFI.co Judging Panel. According to the panel, ‘NCB appreciates the challenge SMEs face in capacity building and is taking intelligent concrete steps to help them move forward in a positive and constructive way through a highly effective team of business managers.

As such, this bank is without doubt a worthy recipient of this important regional award and we congratulate NCB on their success. Support to SMEs is a key aspect of economic development and the NCB are doing more than this: they are inspiring SMEs too, while actively helping to formalise this critical part of the economy.’


Innovation in Insurance: Custodian Wins our Award in Nigeria

Custodian and Allied PLC, winner of the 2014 CFI.co award for ‘Most Innovative Insurance Company, Nigeria’, provides good evidence of this important characteristic with the recent launch of a mobile application that guides the customer through the complexities of the complete insurance cycle.

Innovation in risk management is evidence too and the insurer has a good response time record in respect of claims payment.

There is an attitude at Custodian of seeking out innovation to drive the best possible methods of service delivery.

The Judging Panel was also impressed with this company’s highly innovative approach and intelligent actions to encourage sustainability and described Custodian as a most thoughtful corporate citizen.


Optimum Results: CFI.co Announces 2014 Property Portfolio Management Winner in Germany

According to the CFI.co Judging Panel, ‘Optimum Asset Management provides shrewd property investment and associated advisory services that are impressive and truly comprehensive.

This means finding the appropriate property and then offering intelligent services across the entire maintenance and management spectrum.

This vertical integration of the asset management and property/facility management is a unique trait of the Optimum platform. Our winner shows a very real concern for quality at all times and throughout its operations.  We are very pleased to note the outstanding achievements of Optimum and are delighted to confirm the award of ‘Best Property Portfolio Management Team, Germany, 2014’.


Byron Capital Partners Wins CFI.co Fund Manager Award, Europe

The CFI.co Judging is pleased to confirm a win for the boutique firm Byron Capital Partners, in the category of ‘Best Fixed Income Fund Manager, Europe, 2014’. The award includes a special commendation from the panel for this outstanding achievement.

Byron’s UCITS-Compliant Funds focus on absolute return fixed income and relative value credit – strategies providing a liquid alternative to long-only fixed income investments. The Funds have been performing very well over the past 3 years. Byron outperformed in 2013 in a tough year for fixed income and is powering ahead nicely this year.

Byron Management comments that their success is based on a focus on risk-adjusted returns, a strong emphasis on risk management and their goal of generating absolute returns through different market cycles. The panel applauds this notion and also points out that ‘as needs be, Byron is extremely good at managing duration and credit risk while focusing on liquidity.’


NDB Investment Bank: Leaders in Sri Lanka and CFI.co Award Winner

NDBIB has for years been a leading force in investment banking in Sri Lanka and has received strong international recognition of its many important industry achievements and intelligent and relevant product offerings and advisory services. The CFI.co Judging Panel has no hesitation in naming this bank as having the ‘Best Debt Capital Markets Team, Sri Lanka, 2014’ and warmly congratulates this winner on its consistently high quality performance.


Working for SMEs: Our Award Winner in Sri Lanka is Union Bank of Colombo

The Union Bank of Colombo has grown its business magnificently since the civil war in Sri Lanka came to an end five years ago and the Bank now has a network of 61 branches servicing the country (versus seven branches just a few years ago). The Bank makes good use of modern technology to reach out to the more remote parts of the country mindful that the efforts of all Sri Lankans are required to make up for time lost through war. Union Bank is also correct in believing that small and medium enterprises are critical to the growth prospects of the island and for the past several years has been focusing very diligently on SME banking needs. The CFI.co Judging Panel comments that the commitment shown to SMEs by Union is obvious and very encouraging. The range of services and solutions is strong and Union can be relied upon for good advice and thoroughly professional support. The Panel is delighted to confirm Union Bank of Colombo as winner of the CFI.co award ‘Best SME Bank, Sri Lanka, 2014’.


EEX Wins the CFI.co 2014 Award for Transparency, Europe

Germany’s energy exchange, European Energy Exchange, AG (EEX) has been named by CFI.co as winner of the award, ‘Best Energy Exchange Transparency, Europe, 2014’ and receives a special commendation from the Judging Panel.

According to a statement released by the panel, ‘EEX has been a passionate trailblazer for transparency and this has culminated in the September 2014 launch of a new transparency website which satisfies all the publication requirements of the Regulation on Market Integrity & Transparency (REMIT). This new site is an important development in EEX’s exemplary platform Transparency in Energy Market and we would like to congratulate the winner on its outstanding work in support of transparency over the years.

‘The data made public in this way (production of electricity actual versus forecast) is not only for use in wholesale energy trading but - because of the detail given - is also of great interest to those concerned about developments in renewable energy and helps explain to end consumers the likely future of energy production. In today’s markets, this plays an important role’.


First Registrars Wins the CFI.co Award for Best Share Registrar, Nigeria

The CFI.co Judging Panel has named First Registrars Nigeria Limited, one of 25 registration companies in the country, as winner of the 2014 award for ‘Best Share Registrar, Nigeria.’

According to the panel, ‘First Registrars certainly has the edge with its highly experienced team and very strong products and services. Customer care at First is exemplary. Formerly a wholly owned subsidiary of First Bank of Nigeria Plc, good corporate governance is a key focus of operations here and our winner offers an outstanding share/bond register administration service. First is indeed a very worthy winner of this award’.


Saudi Hollandi: Best SME Bank, KSA, for a Second Year

The CFI.co Judging Panel is always delighted when winners repeat their success in subsequent years. It is therefore with great pleasure that the panel confirms that this year’s award for ‘Best SME Bank, Saudi Arabia’ goes to Saudi Hollandi Bank - who won the same award in 2013.

According to the panel, ‘it is heartening to see Saudi Hollandi’s constant commitment to supporting SMEs in Saudi Arabia. The Kingdom’s Kafala (SME Loan Guarantee Programme) is exemplary and is translating into new business and employment opportunities which are critical to the development of the country. By the end of 2013, Saudi Hollandi was placed fourth of the Saudi banks in terms of Kafala loans and looks set to jump at least one position by the end of this year. Their ambition is clear and we wish the Bank great success. They have dedicated SME teams in place and they really do mean business.


Sustainable Support to Communities: IWC wins the CFI.co Award for Best CSR, Switzerland, 2014

For close to 150 years, International Watch Company (IWC) has been the epitome of Swiss mechanical precision and stylish design. The Company’s comprehensive and continuous long-term attention to detail is recognised in the Corporate Social Responsibility (CSR) efforts of IWC and has been rewarded by the CFi.co Judging Panel’s decision in favour of this highly responsible company.

The Panel notes that, IWC’s CSR credentials include good citizenship and concerns over sustainability in its every aspect from the community to the environment - both locally in Schaffhausen and globally. IWC demonstrates that the amalgamation of sound values and superb products always makes for a winner.’

Locally, IWC supports its employees by championing environmentally sound practices (such as the use of public transport) as well as in manufacturing (e.g. LED, heat recovery from ground water and the use of rainwater). IWC’s employees from 45 countries enjoy a gender equality policy - and there is strong encouragement for employees to return to work after maternity leave.

Globally, IWC is focusing its commitment on supporting institutions that are either working with children and adolescents to promote sport and eradicate illiteracy, or are dedicated to climate and environmental protection. The long-term partnerships are the Laureus Sport for Good Foundation, the Antoine de Saint-Exupéry-d’Agay Foundation, the Charles Darwin Foundation and the Cousteau Society. When sourcing raw materials, IWC complies strictly with national and international norms and standards and is a certified member of the Responsible Jewellery Council (RJC), an international non-profit organization that obliges its members to establish strict guidelines for ethical, social and environmental practices, and to guarantee the protection of human rights. They also ensure that the raw materials supplied, such as gold and diamonds, do not come from conflict regions. In short, IWC’s CSR is acknowledged for its very successful Swiss-style dedication to excellence in all its activities.

Further Information: IWC Announcement


Capital Bank Wins the CFI.co 2014 Award: Best SME Bank, Mongolia

This Mongolian bank traces its heritage back to the year 1990 when it was established as one of the first commercial banks in the country. The CFI.co Judging Panel commented on Capital’s, ‘outstanding contribution to the development of domestic industries and exemplary CSR programme’ upon announcing the award Best SME Bank, Mongolia, 2014’.

This bank really does pay careful attention to its responsibilities to SMEs and this includes helping smaller businesses understand how to make optimal use of the banking system. In terms of corporate social responsibility, Capital shows evidence of keen environmental concern and works for social equality. Presently SMEs account for some 70 percent of the bank’s total business.


ALJ Finansman Wins Consumer Finance Award in Turkey

The CFI.co Judging Panel congratulates ALJ Finansman AS following the announcement of their award for ‘Best Consumer Finance Services Provider – Turkey, 2014’.

The firm is something of a trailblazer in the provision of auto finance in Turkey and the panel points out that, ‘ALJ offerings are innovative and very well thought out. ALJ is able to respond quickly and with authority to credit applications.

This is a slick and extremely efficient operation and we have no hesitation in confirming the award. Well done, ALJ.’


Lotus Capital: Most Shari'ah Compliant Asset Management Team - Africa 2014

Lotus Capital, Nigeria, is a pioneering Shari’ah compliant asset management company that has performed admirably well since its establishment ten years ago. The CFI.co JudgingPanel congratulates the management and staff
on this recent anniversary and is delighted to confirm this award for the continent.

According to the panel, ‘Lotus sets out to achieve ethical wealth creation and steadfastly avoids investment in prohibited businesses. The team is innovative and has had success in seeking out good, strong alternative
investments. Lotus has clearly demonstrated the strength of their Shari’ah compliance and the panel suggests that whether an investor insists on Shari’ah compliant investment or not, Lotus Capital should be high on their list of
asset managers to consider.’


Our Award Winner Travant: Advisory Solutions in Nigeria that bring about Speedy and Positive Change

The CFI.co Judging Panel is happy to recognise Travant Capital Partners as ‘Best Fund Advisory Team, Nigeria, 2014’.

Travant advises across a broad range of industries and has a strong client base. The panel comments that, ‘Travant, working to international best practice, shows ingenuity and innovation and tries to make a real difference to client businesses with solutions that can be implemented effectively to bring speedy and positive change. Here is a successful marriage of local knowledge and international expertise which results in a good understanding of the problems clients face. We congratulate Travant on this well-deserved award’.


Padico Our 2014 Award Winner for Twenty Years of Support to Palestine

The CFI.co Judging Panel confirms Padico Holding as winner of the 2014 award for ‘Outstanding Contribution to the Development of Palestine’ and congratulates this organisation on its determined efforts and many successful achievements in support of the Palestinian economy over the past twenty years.

Padico was established by members of the Palestinian diaspora in Europe and the Gulf with the mandate to invest only in Palestine. Padico, a limited public shareholding company helped establish the Palestine Stock Exchange and created the first power station in Gazza. Our winner concentrates on large infrastructure work and has invested in telecommunications, real estate, power and desalination projects among other significant activities. The panel congratulates Padico noting that, ‘Not only has our winner done much excellent work in support of Palestine but has also shown outstanding stewardship of funds with good dividend pay-outs in recent years and an excellent rate of return on investment since its establishment. Indeed this is a major success story.’


Nordea Asset Management: ESG Award Winner in Europe, 2014

According to the CFI.co Judging Panel, ‘Nordea well understands the benefits that accrue to investors when managers consider environmental, social and corporate governance factors in the asset selection process.

This company has been working consistently over the years to integrate ESG assessment fully into its investment decision making.

Nordea has shown clear focus and a strong determination to exclude investments that violate their ESG principles and it is clear to us that their products are all the better for this rigorous examination.

Board composition, audit policy and compliance procedures reflect good corporate governance policy and practice at Nordea.

Risk management here is exemplary and our winner does all possible to conduct business as profitably as possible but with integrity. We are delighted to name Nordea as winner of the CFI.co award for Best ESG Investment Process, Europe.’


Positive Insights in Africa: Our 2014 Market Research Winner

The CFI.co Judging Panel congratulates Positive Insights, Ghana, on their sterling achievements in data collection and analysis since the firm’s establishment in 2008. These strong efforts have resulted in the CFI.co award ‘Best Market Research Team, Africa, 2014’ and, with it, a special commendation from the panel.

Quality of service is the mantra at Positive Insights and the Panel is impressed by this winner’s clear concern in providing a cost-effective service. According to the Panel, ‘high levels of professional efficiency in evidence at all levels. Staff training here is to a very high standard and good use is made of the social networks. Fieldwork costs are kept at reasonable levels through intelligent and significant savings on overhead costs.’


Best Regional Bank, GCC, 2014: The CFI.co Award Winner is Ahli United Bank B.S.C.

The CFI.co Judging Panel congratulates Ahli United Bank B.S.C. (AUB) on being a truly regional bank and the worthy winner of the 2014 GCC banking award.

The Panel commented that, ‘this bank set out to be a regional player at the time of its establishment fourteen years ago and has succeeded admirably. Unlike other GCC banks that have one massive single market dependence, AUB  has a balanced presence across the region and thus has powerful access to all the regional markets.

Despite the regional challenges, AUB continues to deliver outstanding performance which clearly demonstrates the success and viability of its core business model based on prudent and diversified geographic growth, proactive risk management, intelligent cost spending and continuous focus on developing cross border business opportunities.

Furthermore our winner’s products and services throughout the region are considered to be outstanding. This award comes with a special commendation of the judges.’


Colombo Stock Exchange: Most Sustainable Growth Exchange Asia 2014

With investor confidence solid and a booming economy, the Colombo Stock Exchange (CSE) is in a bullish mood. Thanks to exceptionally strong economic growth (7.3% in 2013), sustained over an impressive number of years, Sri Lanka has been able to maintain its lead in South Asia and is well on the way to attain the government’s stated goal of reaching a per capita income of at least $4,000 in 2016 ($3,194 in 2013).

The Colombo Stock Exchange is one of the most advanced in the region and offers investors a fully-automated trading platform. So far this year (year-to-date), the CSE All Share Index has gained almost 26%, reflecting the optimism prevalent in this market. Standard & Poor’s Sri Lanka 20 Index (S&P SL20), which replaced the now discontinued Milanka Price Index, last September crossed the 4,000 mark and has since added another 1.5%.

Sri Lanka is an exciting place to be for investors and the Colombo Stock Exchange is often their first port of call. The CFI.co Judging Panel came away impressed from a close-up study of this underreported exchange and feels that the CSE offers first-rate services to both investors and listed companies. The Judges noted that technology has been put in place – and is being used both efficiently and effectively – to further improve transparency and competitiveness.

Elected member of the World Federation of Exchanges (WFE) in 1998, and a founding member of the South Asian federation of Exchanges (SAFE), the Colombo Stock Exchange is firmly inserted into the global market place and makes a significant and consistent contribution to Sri Lanka’s now accelerated development. It is for this reason that the CFI.co Judging Panel is pleased to present the CSE with the award for Most Sustainable Growth Exchange Asia 2014.


Auerbach Grayson: Best Frontier Markets Institutional Brokerage USA 2014

Act globally, think locally. This motto encompasses the philosophy of New York-based international brokerage firm Auerbach Grayson. Serving US institutional investors, the firm has established a strategic presence in nearly 130 markets via exclusive partnerships with each country’s leading brokerage or bank. Auerbach Grayson now stands atop the world’s largest network of brokers and analysts.

Originally focused on investment opportunities in Europe, the firm has expanded into emerging and frontier markets in every corner of globe. Auerbach Grayson places great emphasis on exhaustive, locally-conducted research, compiled in accordance with international standards, for distribution to the firm’s clients in the US. The firm’s strong commitment to providing high-quality data, captured first-hand by the very best of local professionals, was noted by the CFI.co Judging Panel which commends Auerbach Grayson on its dedication to research excellence and the resulting discovery of exceptional investment opportunities.

The CFI.co judges are not the only ones taking note of the winning formula employed by Auerbach Grayson: In early 2013, the firm allowed Morgan Stanley to acquire a minority stake in order for that bank to gain access to emerging and frontier markets where it had no presence. The CFI.co judges are mightily impressed by the way the firm has driven its expansion and are happy to concede the Best Frontier Markets Institutional Brokerage USA 2014 Award to Auerbach Grayson.


BeitMisk: Best Smart-City Development Team, Middle East

The BeitMisk residential dream project extends over 655,000 sq metres at Metn, Lebanon and offers the most glorious views of the country’s Mediterranean coast and the guarantee of a very pleasant temperate climate. Only fifteen minutes away from Beirut, this outstanding development was inspired by the wonders of nature and the sublime local landscape.

CFI.co’s judges made this award after considering not only the futuristic aspects of the development but also the fit of BeitMisk into the unchanging world. This is a pioneer smart city doing things the right way. Cutting edge communications technology is in place for residents but there is also the sense of oneness with nature. Sustainability concerns informed the provision of all utilities here and water management methods are very effective.

Residents are assured of fast internet connections and the most advanced in-home monitoring systems. They also enjoy an impressive art centre. But at the same time the developer promises that the great views will never disappear. For every tree that is removed another is planted and the care given to ecological matters is clear to all those who visit or are lucky enough to live at BeitMisk.


Emirates: Outstanding Contribution to Airline CSR Global Award & Corporate Leadership UAE Award

[caption id="attachment_1138" align="aligncenter" width="587"] Mohammed A Al Khaja, Vice Chairman of The Emirates Airline Foundation receiving recognition from CFI.co (from left: Marten Mark and Tor Svensson)[/caption]

 Some companies just keep on flying high, soaring way above their peers and setting the pace for an entire industry. One such company is Emirates – flag carrier of the United Arab Emirates and the airline of choice for the discerning passenger. For a third year running, and with no apologies from the CFI.co Judging Panel, Emirates has successfully laid claim to a most enviable set of twin awards it may now consider its own: Outstanding Contribution to Airline SCR and Corporate Leadership UAE.

For the CFI.co judges, Emirates epitomises the corporate renaissance engulfing the Arabian Peninsula in general and the member states of the Gulf Cooperation Council (GCC) in particular. In a way both exciting and surprising, business is being reinvented here with highly innovative approaches to corporate management, human resources, and day-to-day operations.

Emirates has displayed an uncanny ability to deliver sustained growth in one of the toughest industries of all: airlines operate on the thinnest of margins and turning a profit flying passengers and cargo around is no mean feat. Doing just that for 26 consecutive years is almost unheard of. Yet in May 2014, Emirates announced a solid $1.1bn profit (up 32% over 2013) on a revenue of almost $24bn (up 13% over 2013). The company also added more than 8,000 workers to its payroll and now employs over 75,000 people, representing 160 nationalities.

The judges remain deeply impressed with Emirates’ continued investment in technology – ranging from the latest fuel-efficient planes to flexible route optimisation and tailored arrivals which adjust speed and flight profiles to fit landing slots. This dedication to technological perfection enables Emirates to outmanoeuvre its competitors, and soar above the fray, with both style and flair.


FDH Financial Holdings: Outstanding Corporate Leadership Africa 2015 - Dr Thomson F Mpinganjira

Drawing on his in-depth knowledge and experience in economics, accounting, and finance, Dr Thomson Mpinganjira may be considered representative of a new generation of African corporate leaders. Dr Mpinganjira is chief executive officer of FDH Holdings in Malawi and has attained prominence in the business world by tirelessly advocating for increased transparency, good governance, and scrupulous honesty. Dr Mpinganjira was instrumental in FDH’s recent acquisition of a 75% stake in the Malawi Savings Bank (MSB). He has set a leadership example for senior executives to follow throughout Africa.

These are financially interesting times for this particular region of Africa. People such as Dr Mpinganjira are providing both the entrepreneurial muscle and intellectual wherewithal that fuel the regional boom. He has special interest in the development of the small and medium-sized enterprises (SMEs) as an engine for growth, having himself been inspired by his father who ran a small import and export business.

Diligence in corporate affairs has moved to the top of the local business agenda with Dr Mpinganjira spearheading a major investigation into the alleged systemic fraud which previously affected the MSB. Thus, the Malawi banker has assumed a major role in the development of the country’s financial sector with his relentless pursuit of improved governance standards.

The CFI.co judging panel commends Dr Mpinganjira on his efforts and readily agrees that corporate governance is singularly important to boosting development throughout Africa and attaining higher levels of prosperity. The judges are impressed by Dr Mpinganjira’s standing, not only within Malawi, but throughout the region. The judging panel is therefore most pleased to offer Dr Mpinganjira the win of the 2015 Outstanding Corporate Leadership in Africa Award.


Global Sustainability Award Goes to Asia Plantation Capital

The CFI.co Judging Panel applauds the efforts of Asia Plantation Capital, winner of the 2014 award for ‘Best Sustainable Forestry Management Team, Global’. This award recognises APC’s outstanding contribution to sustainability since 2002 and acknowledges their effective focus and strong results in an area of the very highest importance.

The Judges comment that, ‘Our winner has projects across four continents and assets owed / under management that are expected to exceed $1 billion in value in the not-too-distant future. APC works sensitively with local communities to provide much needed investment and social and cultural support in order to discourage deforestation and illegal logging activity. We are happy to note that locals employed by APC are very well treated and provided with meaningful opportunities to improve their economic prospects in ways that protect and nourish the environments in which they live.’


The 2014 CFI.co Award for Best HSE Standards, West Africa, goes to Mobil Oil Nigeria Plc

Mobil Oil Nigeria Plc traces its proud history back to 1907.

This top petroleum products marketing player now operates extensively and very successfully throughout all states in the country.

The CFI.co Judging Panel confirms that their 2014 award for Best Health Safety and Environment Standards (Oil & Gas), West Africa goes to this outstanding organisation which they say, ‘always places HSE concerns at the heart of their operating strategy. Mobil Oil Nigeria is not only an exemplar of industry efficiency but also conducts itself according to the very highest ethical standards. We congratulate Mobil on this award which is well deserved.’


Africa Re - African Reinsurance Corporation: Best Reinsurance Company Africa 2014

Established in 1976 on a recommendation of the African Development Bank as a way to help reduce the drain of foreign currency from the continent, the African Reinsurance Corporation (Africa Re) is a joint effort of 41 states to provide local insurers with an alternative to global reinsurance companies.

With its head office in Lagos, Nigeria, six regional offices, and subsidiaries in South Africa and Egypt, Africa Re canvasses the entire continent. The corporation has been a driver of the accelerated growth experienced by the insurance and reinsurance sectors in Africa. After revamping its marketing practices and further increasing the range of its services, Africa Re has managed to capture a significantly enlarged market share.

Though Africa Re receives a 5% cession on all reinsurance business generated by insurers operating in its member states, most of the corporation’s revenue – up to 91.7% as at December 2013 – is now sourced from voluntary cessions.

The CFI.co Judging Panel applauds the sustained effort of Africa Re to assist with the development of a strong African insurance industry which, in turn, facilitates business, trade, and overall economic development. The Judges particularly mentioned the essential nature of the services provided by the corporation and felt no hesitation in naming Africa Re the worthy recipient of the Best Reinsurance Company Africa 2014 Award.


Yatırım Finansman: Best Securities Broker Turkey

Yatırım Finansman (YF), established in 1976 by thirteen major banks, was Turkey’s first brokerage house and played a key role in the development of the country’s capital markets in the period prior to the enactment of the 1981 legislation and the opening of the Istanbul Stock Exchange five years later. The firm has grown steadily since those early days and last year the trading volumes of YF branches on the Istanbul Bourse grew by 36%.

Turkey’s first corporate bond was underwritten by YF and this strong brand has done much to educate and facilitate the investment community in the country. YF is the market leader, benefits from state-of-the-art technologies, boasts a wide range of product offerings and provides superb and intelligently focused services. Distribution channels are good and YF is pleasingly customer-centric.

YF is certainly a very efficient and highly nimble brokerage that houses a strong, talented team of professionals. This brokerage was CFI’s 2014 winner and a most worthy one at that.

Investor relations activity is an obvious strength at YF and the firm’s dedication to corporate social responsibility is obvious to all. The firm supports a prominent children’s festival which was set up by the Istanbul Bourse, the Turkish Capital Markets Association, and the Financial Access and Literacy Association. YF is strongly committed to a zero carbon target and in 2013 was Turkey’s only zero carbon intermediary institution.

It is important to point out that YF holds all capital markets authorisation certificates and products and services available at this broker meet or even exceed global standards. The firm serves both individual and corporate customers in Turkey and well beyond her borders.

The CFI.co judging panel points to the integrity, strength and potential of this fine firm and is delighted to confirm a second consecutive year award for YF as Best Securities Broker Turkey.


Building Trust and Ensuring Good Business Conduct: Our Corporate Governance Winner in West Africa

Lafarge Africa Plc is the worthy winner of the CFI.co 2014 award for ‘Best Corporate Governance, West Africa’.

Lafarge Africa Plc, formerly known as Lafarge Cement Wapco Nigeria Plc, was created during the past year through the combination of Lafarge’s other Nigerian operations: Ashakacem Plc, United Cement Company Limited (Unicem), Atlas Cement Company Limited and Lafarge’s South African assets with Lafarge Cement Wapco Nigeria Plc. The company was renamed Lafarge Africa Plc.

The Judging Panel was impressed by the Lafarge’s efforts to protect the interests of the minority shareholders throughout the process. We note that a non-executive board sub-committee was set up to lead the negotiations for Lafarge Wapco, an independent valuation was prepared by Standard Chartered Bank, that KPMG issued a fairness opinion and that the board’s audit committee assessed the transaction and approved the same before bringing it forward to the AGM. We also note Lafarge chose not to vote its shares at the AGM. Overall, corporate standards at Lafarge Africa are very high with policies and practices in place. We congratulate this enterprise and wish it all success.’


CRC Credit Bureau Receives Award as Best Loan Application Services Provider Nigeria 2014

The availability of reliable credit information is the cornerstone of business. Without it, no company – large or small – can expect to avoid risk or, indeed, expand its customer base. CRC Credit Bureau specialises in facilitating lending to consumers and small and medium-sized enterprises. In Nigeria, and elsewhere, SMEs are the drivers of progress. Any business empowering SMEs deserves accolades.

In Nigeria, CRC Credit Bureau provides outstanding services as a credit bureau. The company was set up by eleven leading domestic financial institutions and Dun & Bradstreet – one of the world’s oldest and most respected credit information providers. Its enviable heritage and impeccable credentials have allowed CRC Credit Bureau to claim the top spot in its sector.

Focused on providing credit information to the financial services companies and other lenders, CRC Credit Bureau is a key partner to banks and consumer credit companies as well. The company has developed processes that produce quick decisions in order to keep in tune with Nigeria’s business dynamics, and indeed help set the pace. The CFI.co judges applaud CRC Credit Bureau for its peerless standard of service and feel confident in granting the Best Loan Application Services Provider Nigeria Award 2014 to the company.


Marks & Spencer: Best Retail Franchise GCC 2014

Perhaps the most quintessential of UK retailers, Marks & Spencer has been remarkably successful in exporting its brand – keeping in touch with the times while maintaining true to both its corporate identity and the company’s exceptionally rich heritage. Marks & Spencer is currently paying particular attention to the requirements of its core customer demographic – those in the 40 to 60 age group – while keeping its hard-won appeal to patrons of all ages.

The legendary Marks & Spencer slogan “The customer is always and completely right,” adopted in 1953, has set the tone for much of the company’s 131 year history. Though its first foray overseas, to Canada in 1973, ended in ignominy with the last of 47 loss-making stores closing in 1999, the company has since moved decisively outside its British comfort zone and is now at home in over fifty jurisdictions, at last count operating 455 stores.

With revenue of its international operations growing about three times as fast as income from the 798 UK stores, Marks & Spencer sees considerable growth opportunities outside Britain. The company has already identified a potential for no less than 250 new stores over the next three years. A significant part of the international expansion is to come from the Middle East. In Saudi Arabia, Marks & Spencer expects to open no less than ten stores over the next twelve months.

The retailer has big – even aggressive – plans for the buoyant GCC (Gulf Cooperation Council) region. The company’s international managers are especially sensitive to the maintenance of strict quality standards, thus ensuring that the vast overseas store network adheres closely to the policies and guidelines which underlie M&S’ success and enabled its growth from a market stall in Leeds to a worldwide emporium with a revenue exceeding £10 billion.

The CFI.co judging panel is impressed with Marks & Spencer’s persistence in expanding the geographical footprint of its much-lauded brand. The company has found that local knowledge coupled to superior quality in the delivery of retail services constitute a formula for success applicable globally.

The judges are pleased – if not positively honoured – to offer Marks & Spencer, that most British of retailers, the 2014 Best Retail Franchise GCC Award in recognition of a most promising expansion drive.


BONUS Banca de Inversión SAS Claims Two Awards: Most Innovative Project Advisory Team Latin America 2014 & Outstanding Deal Structuring Colombia 2014

The economic contribution that effective infrastructure development has on economic growth is hard to overstate. There are numerous local and international firms providing project management services to support infrastructure development. The difference that these teams can make has a real and often immediate impact.

The CFI.co Judging Panel was delighted to see some very strong entries for the Most Innovative Project Advisory Team Latin America 2014. However, one team in particular stood out in the Judges’ mind: BONUS Banca de Inversión, a Colombian investment bank, has a track record that speaks for itself. Its performance is most impressive as well.

BONUS has rapidly become the project advisory team of choice in Colombia. The close-knit team has managed to successfully blend its multidisciplinary skillsets to produce innovative and effective solutions that consistently provide competitive and timely results. The BONUS team has managed to build high levels of confidence within the international financial community, not least through a meticulous attention to relevant detail.

This has allowed BONUS to structure original solutions. The Judging Panel was extremely impressed with the work done to structure the financing of the Magdalena River Waterway Project that aims to drive internal transportation costs down and thus increase Colombia’s competitiveness in global markets.

The Judges made the unusual decision to grant BONUS a second award for Outstanding Deal Structuring Colombia 2014 for this ground-breaking project. The skills and experience BONUS has honed and gathered in Colombia are already resulting in a demand for their services outside the country. BONUS’ practices shine as an example of how local teams of experts can leverage their regional knowledge and understanding to outperform and outclass global competitors.

See more at bonus.cfi.co


Julius Bär Group: Best Private Bank Switzerland 2014

Managing the assets of private clients across the globe, Julius Bär Group maintains offices in over twenty countries with an emphasis on Europe and Asia – the bank’s two home markets. The Julius Bär Group, one of the world’s oldest and largest private banks, has embarked on a significant expansion project. In July 2014, the group acquired the private banking division of Israel’s Bank Leumi. Earlier in the year, the venerable Swiss bank also upped its stake in the Brazilian private bank GPS Investimentos e Participações to 80%.

The Julius Bär Group has also trained its sight on the Middle East. The bank recently celebrated the tenth anniversary of its landing at the Dubai International Financial Centre and is now working hard to offer clients a full suite of Sharia-compliant products and services.

Julius Bär CEO Boris Collardi suggested that the changing economics of private banking may result in additional acquisitions. In a recent interview, Mr Collardi explained that regulatory costs are on the increase and while market and risk appetites of clients have been subdued: “Margins are now lower and that leads to consolidation.”

The CFI.co Judging Panel has nothing but praise for Mr Collardi’s management of the Julius Bär Group. He initiated a somewhat overdue revamp of the bank’s ageing IT systems and also stylishly implemented a process of growth that has kept the bank well ahead of the market curve.

In his five years at the helm of the Julius Bär Group, Mr Collardi has increased the volume of assets under management by a solid 85% to over $282bn in 2014. The CFI.co judges congratulate the bank on its enduring success and are pleased to name Julius Bär Group, for a third consecutive year, Best Private Bank Switzerland.


Best Commercial Bank, China: CFI.co names China Merchants

[caption id="attachment_1333" align="aligncenter" width="410"] Pictured: Zhijun Shi of China Merchants Bank[/caption]

China Merchants Bank, headquartered in Shenzen and boasting 500 branches, is the CFI.co 2014 winner of the award ‘Best Commercial Bank, China.’

The CFI.co Judging Panel congratulates China Merchants on pioneering cross-border financing activities and notes the Bank’s resolve to develop an international presence with the opening of its branch office in New York City.

Trade financing at Merchants is outstanding and the Panel comments that, ‘China Merchant’s Bank is a wise choice for companies seeking out international business opportunities.’