After topping last year's year-end RMBS league tables, UBS Warburg is starting the year right as the leader in the first-quarter results.
UBS is first place in the year-end RMBS manager activity rankings for both agency and non-agency MBS, according to final results from Thomson Financial's RMBS 2002 first quarter league tables.
UBS sold $27.22 billion, grabbing the top spot with a market share of 17.7%. Credit Suisse First Boston and Goldman Sachs & Co. were second and third place, respectively. CSFB sold $25.04 billion (16.3% market share) and Goldman had $20.30 billion in proceeds and a 13.2% market share.
Lehman Brothers was in fourth place in the tables having sold $17.55 billion (11.4% market share). Bear Stearns & Co., Inc. placed fifth with $16.98 billion in proceeds for an 11.1% market share.
Meanwhile, Salomon Smith Barney and Royal Bank of Scotland Group, were in sixth and seventh place, respectively. SSB had roughly $11.19 billion in proceeds and a 7.3% market share while RBS did $97.3 billion and had a 6.3% market share.
Merrill Lynch & Co., Inc. placed eighth and sold $6.67 billion, earning the firm a 4.4% market share. Banc of America Securities LLC was in ninth place garnering $6.41 billion in proceeds and a 4.2% market share.
JPMorgan was no.10 with $3.57 billion in proceeds and a 2.3% market share.
Looking back, Goldman Sachs was the official lead in the RMBS manager activity rankings for the fourth quarter 2001. The firm came in No. 1 for the combined agency and non-agency MBS charts, supplying the market with a healthy $41.9 billion in proceeds, which is equivalent to a 23.5% market share (see ASR 01/07/02).