HSBC has been named the World’s Best Bank 2017 by the magazine Euromoney in its annual Awards for Excellence. The award, one of the most prestigious in the financial services industry, is in recognition of the transformation of HSBC under Stuart Gulliver and his management team, said Euromoney. HSBC was also named as the World’s Best Bank in the Emerging Markets.

“The World’s Best Bank award is a fantastic endorsement of what HSBC has achieved over the last few years. It recognises the challenges and changes we have overcome, the hard work required to make HSBC the great bank we know it to be, and the results our efforts are now delivering,” said Stuart Gulliver, Group CEO of HSBC.

The World’s Best Bank award — the top accolade in Euromoney’s Awards for Excellence — was accepted by Gulliver at an event held at the Tower of London in the UK. Samir Assaf, CEO of HSBC’s Global Banking and Markets business, accepted the World’s Best Investment Bank in the Emerging Markets award.

“HSBC today is a global bank that works, rather than one which exists," said Euromoney. “It is better positioned than ever before to benefit from its core value proposition of financing cross-border capital and trade flows. HSBC has a unique global business that can continue to deliver good returns to shareholders and help its clients meet their international ambitions."

Euromoney received almost 1,500 submissions from banks in an awards program that covers 20 global awards, more than 50 regional awards, and best bank awards in close to 100 countries.

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The group serves customers worldwide from around 4,000 offices in 70 countries and territories in Europe, Asia, North and Latin America, and Middle East and North Africa. With assets of $2,416bn at March 31, HSBC is one of the world’s largest banking and financial services organizations. — SG