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Methodology

Greenwich Associates conducted interviews with 3,125 financial officers (e.g., CFOs, finance directors and treasurers) at corporations and financial institutions with sales in excess of 500 million euro, including 1,625 with sales of at least 2 billion euro. Interviews were conducted throughout Belgium, Denmark, Finland, France, Germany, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. Interviews took place from September through November 2011.

Subjects covered included bank credit capabilities, domestic and cross-border advisory capabilities and equity underwriting capabilities. Cash management and debt capital markets capabilities were examined in separate interviews with corporate treasurers.