Japanese bank Daiwa jumped 22 places in the league tables on Monday, when it enlivened the lacklustre convertible bond market with the year’s largest zero-coupon transaction, making it our investment bank of the week.

The transaction, which was for the Japanese telecom KDDI, propelled Daiwa into the top 10 group of bookrunners in the convertible market globally. The bank is now ranked eighth by Dealogic, up from 30th prior to Monday's issue, and is at the top of the tables for Japan and Asia convertible issuance, from fourth and 21st respectively.