Totals for public ABS deals for the first quarter of 2010 dropped year-over-year, according to preliminary figures from the ASR Scorecard database.
The numbers are based on ABS public deal activity, excluding 144A transactions, by the top eight lead managers in 1Q10. The managers were given equal credit in terms of dollar volume.
The totals for public deals for the just-ended quarter reached $8.33 billion, compared with $11.97 in 1Q09.
Deutsche Bank Securities topped the rankings, after acting as lead manager on $2.15 billion in public ABS transactions, according to the ASR Scorecard database.
The investment bank also took a notable 25.9% share of ABS business for the quarter, compared with just 9.1% in the same period last year.
Deutsche was followed by second-place finisher RBS Securities, with $1.82 billion, and a 21.8% share of the business. RBS leaped from being no. 6 in 1Q09, with a mere 4.9% market share and $590.8 million in asset-backed business.
Credit Suisse was third in 1Q10, with $1.11 billion, and a 13.3% market share. It also jumped from the previous year's ranking, where it placed eighth and sold $499.3 million, which garnered for it a 4.2% market share.
Bank of America Merrill Lynch placed fourth in the first quarter of 2010, with $931.2 million in deals and an 11.2% share of underwriting business. Over the same period last year, BofA Merrill had placed third among lead managers in 1Q09, according to the ASR Scorecard data.
Barclays Capital rounded out the top five banks in 1Q10, after taking the lead role on $758.5 million in deals, for a 9.1% share of the market.
Rounding out the top eight were: Wells Fargo Securities, which came in sixth with $735 million in completed deals and an 8.8% market share; JPMorgan Securities, which ranked seventh place with $500 million in business and a 6% share of the market; and BNP Paribas, which ranked eighth with $321.2 million in new deals and a 3.9% market share.
The numbers presented in the table below are preliminary.