UBS, no stranger to the No.1 spot, once again emerged on top of the manager activity rankings for both agency and non-agency MBS, according to final results from Thomson Financial's RMBS 2003 league tables for the first three quarters of the year.
UBS took top place with $83.31 billion in proceeds and a 12.9% market share. However, the first placer did not replicate its performance over the same period last year. In the first three quarters of 2002, UBS emerged the winner with a larger market share - 15.7%.
Despite that percentage, UBS also sold relatively less last year with proceeds of $84.75 billion. UBS also led in the year-to-date agency issuers-only league tables, where it captured a larger 13.4% market share with $62.07 billion in proceeds.
Goldman Sachs leapt to the second place from fourth place over the same period last year. The firm sold $76.24 billion year-to-date with a market share of 11.4%. Goldman maintained its high position in the tables despite being only in ninth place in the third quarter ranking for the same tables, dropping from no. 3 in the second quarter. However, Goldman was also no. 2 in the year-to-date agency issuer-only league tables.
Bear Stearns took the third place spot with $69.61 billion in proceeds, garnering for itself a 10.4% market share. Lehman Brothers and Credit Suisse First Boston are fourth and fifth place, respectively. Lehman edged out CSFB with a 10.0% market share and $67.03 billion in proceeds. Meanwhile, CSFB was a-not-so-close fifth, selling $56.11 billion (8.4% market share).
Banc of America Securities garnered the sixth spot for the first three quarters of 2003 with an 8.1% market share, selling $54.04 billion. Citigroup Global Markets earned seventh place with $53.52 billion in proceeds (8.0% market share).
Morgan Stanley and Royal Bank of Scotland Group, are eighth and ninth, respectively. Morgan Stanley had $47.59 in proceeds with a 7.1% market share. RBS sold $39.32 billion (5.9% market share).
Rounding out the top 10 list is Merrill Lynch, who maintained its position from the same period last year, with $33.67 billion in proceeds and a 5.0% market share.
CSFB led the CMBS manager league tables for the first three quarters of the year .The firm had $8.03 billion in proceeds and a 15.1% market share. Closely following, Morgan Stanley is second, selling $7.48 billion (14%). Third place goes to Deutsche Bank Securities with a 9.4% market share and $5.01 billion in proceeds.