For 1Q11, U.S. public ABS issuance reached $13.62 billion, according to preliminary figures from the ASR Scorecards database. This is an increase from a year ago when industry volumes reached only $9.4 billion
In terms of public lead manager rankings, Bank of America Merrill Lynch took the lead for the first quarter with a market share of 17.8% and $2.42 billion in public issuance, as reported by ASR's database.
BofA Merrill displaced last year's 1Q10 top manager RBS Securities. In 1Q10, the bank placed third with a comparatively much lower 15.6% market share and $1.47 billion sold.
Dropping a spot from 1Q10, RBS placed second in ASR's 1Q11 preliminary public manager rankings. The bank sold $2.25 billion with a 16.5% market share.
In 2010, RBS had a much higher 25% market share while it had $2.35 billion in deal volume.
Citigroup Global Markets placed third in 1Q11. It jumped in the current year's rankings with $2.07 billion sold and a 15.2% market share. Last year the bank was not even in the top 10 in terms of manager deal volume.
Rounding out the top five were JPMorgan Securities and Barclays Capital. JPMorgan sold $2.03 billion with a market share of 14.9% in 1Q11. It was seventh over the same period last year and had a lower 5.3% market share while selling only $500 million.
Meanwhile, Barclays maintained its No. 5 ranking from the first quarter of last year. In 1Q11, the bank has a deal volume of $1.39 billion and a 10.2% market share, ASR's preliminary results showed. Over the same time period in 2010, the bank also placed fifth with an 8.1% market share and $758.5 million sold.
Credit Suisse, Deutsche Bank Securities, Wells Fargo, HSBC Securities and BNP Paribas round out the top 10 in ASR's 1Q11 preliminary U.S. public manager rankings.
