Spain's distributors have their say

Spanish distributors have embraced products from structurers, most notably those from BBVA. The Spanish bank has scored well in the Structured Products distributor poll conducted last month, which also revealed the increasing sophistication of the buyer base. Richard Jory reports

Of the nine asset classes on which Structured Products polled Spanish distributors, BBVA took top spot in six and was equal first in another. Deutsche Bank shared first place with BBVA in foreign exchange, while BNP Paribas (followed by ABN Amro and Barclays Capital) were first choice for structured credit, and BarCap was best for commodities. Societe Generale took second place in four of the categories - equity, hedge funds, structured funds and CPPI - each time coming one spot below BBVA.

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