RBS 2007 Annual Report Download - page 15
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13
RBS Group • Annual Report and Accounts 2007
Corporate Markets – Global Banking & Markets
Highlights
•In terms of relationships with large corporates and
financial institutions, we are now number one in the
UK and Europe and number five in the US and Asia-
Pacific, excluding Japan.
•GBM was named Inflation Derivatives House of the
Year in the Risk Awards by Risk magazine.
•ifr magazine named us Sterling Bond House of the
Year and European and North American Securitisation
Houses of the Year.
Our GBM division enjoyed another strong first half performance
and throughout 2007 made good progress, in our Continental
European and Asian businesses in particular. We took full
advantage of market volatility in the second half to deliver
excellent performances in interest rate and currency trading,
with income growth of 78% and 48%, respectively. These same
market conditions resulted in significantly lower origination
volumes in the credit markets as well as write-downs on US
mortgage-related exposures. Overall, we continued to benefit
from the diversity of our income streams.
We continued to build GBM around the globe, making significant
investments in people, infrastructure and technology to support
growth and develop new product capabilities. Our Beijing
office attained branch status, enabling us to deliver a wider
range of products to clients in China. We moved to new
premises in Paris to accommodate growth.
Building on our already extensive relationships, ABN AMRO
will extend our presence to more than 50 countries, improving
our ability to meet clients’ needs around the globe. Integration
of ABN AMRO’s wholesale businesses within GBM brings
considerable strengths in equities, corporate finance and
advisory services, emerging markets and transaction services,
including cash management and trade finance.
Contribution (£m)
07
06
3,832
3,923
GBM’s Tokyo office was joint
arranger of SoftBank Mobile’s
¥65.1 billion securitisation of
mobile handset instalment sales
receivables.
GBM was the sole bookrunner
for a €266 million infrastructure
facility for EDF Energies Nouvelles
to fund construction of six wind
farms in France.
© EDF EN
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