After falling to third place at midyear, Bear Stearns is back atop the RMBS manager activity rankings year-to-date, according to data maintained by Thomson Financial. The strong showing throughout the quarter has Bear Stearns on pace to top the league tables for the second straight year.
Through Sept. 30, Bear Stearns has underwritten $77 billion in proceeds good for an 11.5% market share. Bear Stearns has already surpassed its 2004 total, when it sold $72 billion and gained a 12.5% market share. Meanwhile, RBS Greenwich Capital is a rising star, moving up two more notches from its fourth place half-year position. RBS Greenwich also took a noteworthy leap from its seventh place finish last year. RBS sold $69.9 billion, earning a 10.5% market share. By contrast, RBS Greenwich sold $38.32 billion last year good for 6.6% of the market.