In a drastic re-ordering of top ABS bookrunners, JPMorgan Securities became the top-ranked manager for public ABS deals in the first half of 2007, according to a preliminary tally of deals by the ASR Scorecard database.
JPMorgan completed 48 deals that amounted to $32.1 billion in lead manager business, making it the hardest working bank by far in the first half. That amount of underwriting business gave the bank a 10.3% share of the ABS lead manager market in the second quarter. Citigroup Global Markets followed, in second place, with 42 deals amounting to $29 billion and a 9.3% market share, repeating its second-place finish from the previous quarter. Banc of America Securities, placed third for the most recent quarter, with $27.9 billion in lead manager business.