End-user rankings 2002

Most dealers call themselves ‘client focused’. But what do the clients think? Risk put the question to more than 300 derivatives end-users – asset managers and non-financial corporates – and found that while JP Morgan Chase, Citigroup and UBS Warburg continue to be crowd-pleasers, Royal Bank of Scotland has built a surprisingly strong following in many product lines

When John McCormick, the former global head of interest rate derivatives at Royal Bank of Scotland (RBS), changed jobs within the bank in December, he felt confident he was passing a thriving business on to his successor, Ian Gaskell. Risk’s 2001 global derivatives rankings (published in September) showed that RBS had established itself as the number-one interbank derivatives dealer in a range of sterling and euro products. But having a strong inter-dealer franchise does not guarantee