The asset securitization market has seen several key changes since the beginning of the year, but that is not at all reflected in the lineup of lead manager rankings. Citigroup Global Markets tightened its iron grip on the title as top lead manager of ABS deals by claiming first place in the ranking for the year to date, according to data from Thomson Financial.
The investment bank, which placed first in the lead manager rankings for the two previous quarters, completed $87.4 billion in deals. The bank improved on its standing compared to the same period a year ago, when it came in second place. A quick glance at the numbers suggests that the share of deals was distributed more evenly than in previous quarters. None of the lead managers achieved double-digit market share for the third quarter, although Citigroup came the closest, with a 9.9% portion of the overall market.