Financial News last night hosted its 13th annual awards for excellence in European investment banking. The awards were presented at a dinner held at The Magazine restaurant at London's Serpentine Sackler Gallery.

Goldman Sachs narrowly beat JP Morgan to retain the crown of European Investment Bank of the Year. The US bank, led by Richard Gnodde in Europe, clinched the runner-up spot in Dealogic’s Emea revenue rankings for the second consecutive year in 2016. The main driver was its M&A franchise, which topped the European volume rankings after advising on some of the region’s most important deals, including ARM Holdings' acquisition by Japan’s Softbank, and Syngenta's bid from ChemChina. It slipped to second in Emea ECM, but boosted its standing in the IPO rankings, as well as in European DCM and high yield.