Everyone likes to be number one. From competing to be top of the class, to winning the biggest corporate bond mandate, it is human nature to want to outperform your rivals.
Corporate bond bookrunner league tables are no exception. Traditionally, positions in the tables are hotly contested and some players have been known to employ underhand tactics to leapfrog their rivals. Topping the table is a prize worth fighting for.
Citigroup and JPMorgan regularly straddle the summit of the tables at the ex