UBS rounded out the year by once again bagging the No.1 spot, as it emerged at the top of the manager activity rankings for both agency and non-agency MBS, according to the final results from Thomson Financial's RMBS league tables for 2003. This is the third consecutive year UBS has reigned supreme, after jumping to the top spot in 2001.
UBS was first with $104.05 billion in proceeds, which is equivalent to a 12.6% market share. However, the perpetual top placer did not duplicate its performance in 2002. This year, UBS had a larger market share - 14.2%. It also sold comparatively more in 2002 with proceeds of $106.27 billion. UBS also aced the top spot in the agency MBS only league tables, where it held a 13.5% market share with $74.76 billion in proceeds.
Goldman Sachs made a significant leap forward to the second place in 2003 from fifth place in 2002. The firm sold $93.33 billion the whole year, capturing a market share of 11.3%. Goldman also bagged the second place in the year-to-date agency only league tables with $70.16 billion in proceeds and a 12.7% market share.
Bear Stearns was third with $87.07 billion in proceeds (10.6% market share). Lehman Brothers and Banc of America Securities are fourth and fifth place, respectively. Lehman had a 10.3% market share and $87.07 billion in proceeds. BofA rounded out the top five by selling $69 billion, garnering for itself an 8.4% market share.
Credit Suisse First Boston was sixth in 2003, capturing an 8.4% market share and selling $68.76 billion. Citigroup Global Markets placed seventh with $66.80 billion in proceeds, which is equivalent to an 8.1% market share.
Meanwhile, Morgan Stanley and Royal Bank of Scotland Group, placed eighth and ninth, respectively. Morgan Stanley sold $57.06 billion with a 6.9% market share. RBS, on the other hand, had $44.57 billion and a 5.4% market share.
Merrill Lynch bags the final spot in the top ten list. The firm sold $41.19 billion in 2003, garnering a 5.0% market share.
CSFB led the CMBS manager league tables in 2003. The top finisher had $11.86 billion in proceeds and a 16.3% market share. Morgan Stanley placed second with $9.39 billion in proceeds, bagging a 12.9% market share. Third place goes to Deutsche Bank Securities garnering a 9.5% market share by selling $6.92 billion in 2003.