Regional banks have secured top honors in Greenwich Associates 2010 Greenwich Excellence Awards in U.S. Middle Market Banking.
As 2011 begins, U.S. middle market companies have doubts about both the strength of the economic recovery and their own ability to secure the credit they need to sustain their businesses in the coming year. In this difficult environment of uncertainty and continued credit scarcity, the regional bank model is resonating with middle market businesses across the U.S., says Greenwich Associates consultant Chris McDonnell.
Three regional banks Frost, City National Bank (CA) and Zions Bancorp distinguished themselves from competitors by claiming 10 Greenwich Excellence Awards across National and Regional categories. Synovus Financial won nine, Bank of the West and BB&T each claimed seven and Comerica and SunTrust each won six Greenwich Excellence Awards.
National banks including Bank of America, J.P. Morgan and Wells Fargo dominated the ranks of Greenwich Excellence Award winners in International Service and Investment Banking.
Greenwich Middle Market Banking Excellence Awards
Greenwich Excellence Awards are determined by banks performance in Greenwich Associates annual U.S. Middle Market Banking Research Study, in which decision makers from more than 10,000 businesses with $10 500 million in annual sales name the banks they use and rate them in more than 10 banking and treasury management categories. Recognition is based on statistical differentiation at a 95% confidence level.
At the National level, Greenwich Excellence Awards are given out in a broad range of Corporate Banking categories including Overall Satisfaction, Relationship Manager Performance, Credit Policy, Financial Stability, Leadership in Investment Banking and International Services as well as Website Performance. Greenwich Associates also names Excellence Award winners in the following Treasury Management categories: Overall Satisfaction, Accuracy of Operations, Customer Service, Product Capabilities, and Sales Specialist Performance. Greenwich Excellence Awards for Overall Satisfaction are also presented for Banking and Treasury Management in the Northeast, South, Midwest, and West regions.
As Greenwich Associates consultant Peter Garrison notes, The 2010 Greenwich Excellence Award winners in U.S. Middle Market Banking displayed particular strength in three areas critical to middle market clients: robust product capabilities, superior high touch customer service and perhaps most importantly a demonstrated willingness to lend.
D.C.