Are there only five banks worth working for in capital markets? All hail king Goldman Sachs

Despite what is broadly expected to be a poor second half, 2013 will be looked upon by most large investment banks as being decidedly better than last year. So, who’s stood out? The answer, inevitably, is Goldman Sachs.

Goldman has been named ‘Bank of the Year’ by Thomson Reuters in its annual International Financing Review awards, and also scooped equity house of the year after a “particularly impressive year”, according to the awards judges, which include journalists and analysts.

This is a little predictable, of course, given its reputation for attracting super-competitive bankers, and supposed 'culture of success'. The other interesting fact, though, is that just five banks have shared nine awards between them. Deutsche has cemented its dominance in the fixed income markets by winning bond house, high yield bond house and loan house of the year, while Citigroup has also won two awards.

Boutique firm Houlihan Lokey has won in restructuring – the firm’s traditional cash cow – but has also been hiring in M&A, capital markets and advisory throughout 2013.

Tellingly, though, aside from Citigroup, few of the larger banks to win this year have been associated with any big recruitment sprees in 2013.

Bank of the Year – Goldman Sachs

Bond House – Deutsche Bank

Equity House – Goldman Sachs

Loan House – Deutsche Bank

Structured Finance House – Credit Suisse

Derivatives House – Citigroup

Restructuring Adviser – Houlihan Lokey

Emerging Markets Bond House – Citigroup

High-Yield Bond House – Deutsche Bank