Siebert Cisneros Shank ranks among the top municipal underwriters in the nation as a senior-managing and co-managing underwriter for all long-term municipal new issues.

In addition we continue our record for the 18th consecutive year as the number-one-ranked minority-owned firm in the nation.*

Siebert Cisneros Shank is a performance-based firm with experience in the full spectrum of municipal finance and our rankings provide a good graphic illustration of Siebert Cisneros Shank’s position in the industry. Through 2015, our firm had served as a managing underwriter for public financings totaling more than $1 trillion in total par amount since the firm’s inception in 1996.

*Source: Thomson Reuters/SDC

Senior Manager Rankings

National Senior Manager

2016 Full Year (Negotiated New Issues)

Full Credit to Book Runner (Equal if Joint)PAR AMOUNT ($mm)RANK
Industry Total325,205.6--
Bank of America Merrill Lynch44,394.81
Citi34,070.62
J P Morgan Securities29,665.53
Morgan Stanley24,864.34
RBC Capital Markets22,925.75
Wells Fargo & Co.18,975.56
Stifel Nicolaus & Co.17,022.77
Goldman Sachs & Co.15,852.18
Barclays15,299.89
Piper Jaffray & Co.14,203.310
Raymond James13,963.411
Ramirez & Co.7,173.912
Jefferies5,321.613
Siebert Cisneros Shank & Co.5,219.714
Ziegler4,674.215
D A Davidson & Co.4,412.216
PNC Financial Services Group4,029.217
Loop Capital Markets3,688.018
Robert W Baird & Co.3,262.619
George K Baum & Co.3,154.820
William Blair & Co.2,662.921
Hilltop Securities2,340.122
Fifth Third Securities1,972.423
BOKF NA1,634.524
Roosevelt & Cross1,972.425

Source: Thomson Reuters / SDC

MBE Rankings

2015 Full Year (Municipal Negotiated New Issues)

FULL TO BOOK RUNNERPAR AMOUNT ($mm)RANK
Siebert Cisneros Shank5,864.11
Loop Capital Markets5,591.62
Ramirez & Co. Inc.2,959.53
Cabrera Capital Markets Inc670.44
Estrada Hinojosa & Company Inc545.05
Rice Financial Products Company410.86
Stern Brothers & Co.154.07
Duncan-Williams Inc.152.88
Powell Capital Markets Inc95.49
Podesta & Co.1.710

Source: Thomson Reuters / SDC

Airports

2015 Full Year (National Negotiated New Issues)

Full Credit to Book Runner (Equal if Joint)PAR AMOUNT ($mm)RANK
Industry Total10,500.1
Citi2,915.91
J P Morgan Securities LLC1,353.62
Morgan Stanley1,311.73
RBC Capital Markets971.74
Loop Capital Markets736.05
Bank of America Merrill Lynch729.06
Raymond James712.17
Wells Fargo & Co.567.18
Barclays527.29
Siebert Cisneros Shank & Co.324.310
Stern Brothers & Co.109.211
Piper Jaffray & Co.73.612
Goldman Sachs & Co.72.013
Oppenheimer & Co.37.014
Stifel Nicolaus & Co Inc.32.615
D A Davidson & Co.11.116
National Alliance Capital10.817
First Midstate Inc.2.718
Ameritas Investment Corp.2.619

Source: Thomson Reuters / SDC

Transportation

2015 Full Year (National Negotiated New Issues)

Full Credit to Book Runner (Equal if Joint)PAR AMOUNT ($mm)RANK
Industry Total40,249.8
J P Morgan Securities LLC7,067.01
Citi6,854.12
Morgan Stanley5,078.33
Bank of America Merrill Lynch4,152.94
RBC Capital Markets3,805.55
Wells Fargo & Co.3,079.76
Barclays2,400.77
Loop Capital Markets2,247.48
Siebert Cisneros Shank & Co1,410.09
Goldman Sachs & Co891.810
Raymond James770.811
Ramirez & Co. Inc.758.412
Piper Jaffray & Co.713.313
Stifel Nicolaus & Co. Inc.178.614
US Bancorp150.015
Stern Brothers & Co.109.216
Jefferies LLC89.917
PNC Financial Services Group Inc.84.318
Cabrera Capital Markets Inc.57.519
Hutchinson Shockey Erley & Co.54.620
Oppenheimer & Co.37.021
Samco Capital Markets27.422
Fifth Third Securities Inc.27.223
George K Baum & Company Inc.21.624
Ameritas Investment Corp.18.625

* (tie)

Source: Thomson Reuters / SDC

Water & Sewer

First half of 2015 (National Negotiated New Issues)

Firm as Senior Manager
First Half of 2015
Par Amt ($MM)RankMkt. ShareIssues (#)
Industry Total16,003.0-100.0436
J P Morgan Securities LLC3,450.8121.619
Citi2,045.4212.818
Raymond James1,181.437.437
Wells Fargo & Co876.945.512
Goldman Sachs & Co868.755.42
Siebert Cisneros Shank & Co720.764.56
RBC Capital Markets651.374.160
Loop Capital Markets618.783.91
Stifel Nicolaus & Co Inc608.293.838
Cabrera Capital Markets Inc604.3103.82

Source: Thomson Reuters / SDC

Toll Roads, Highways & Streets

2015 Full Year (National Negotiated New Issues)

Full Credit to Book Runner (Equal if Joint)PAR AMOUNT ($mm)RANK
Industry Total15,787.3
J P Morgan Securities LLC3,264.31
RBC Capital Markets1,936.32
Morgan Stanley1,921.13
Citi1,905.64
Bank of America Merrill Lynch1,865.65
Barclays1,299.96
Loop Capital Markets882.87
Siebert Cisneros Shank & Co835.88
Piper Jaffray & Co.720.99
Ramirez & Co Inc.400.0010
Wells Fargo & Co.229.811
Stifel Nicolaus & Co Inc.103.412
Jefferies LLC89.913
Goldman Sachs & Co.87.014
Hutchinson Shockey Erley & Co.54.615
Samco Capital Markets27.416
Fifth Third Securities Inc.27.217
George K Baum & Company Inc.21.618
Dougherty & Company LLC17.919
Ameritas Investment Corp.16.020

Average Deal Size 2014

2014 Full Year (National Negotiated New Issues)

Full Credit to Book Runner (Equal if Joint)PAR AMOUNT ($mm)RANK
Barclays183.71
Goldman Sachs & Co.179.22
Siebert Cisneros Shank & Co.176.23
Morgan Stanley165.54
Bank of America Merrill Lynch150.05
J P Morgan Securities LLC142.46
Wells Fargo & Co.121.97
Citi115.58
Loop Capital Markets99.49
Jefferies & Company Inc.63.710

Top ten underwriters ranked by average deal size selected from the top 15 underwriters of negotiated bonds nationally in 2014 (multiple issues sold with the same sale date, purpose and issuer are counted as one deal)

Source: Thomson Reuters / SDC

Average Deal Size 2015

2015 Full Year (National Negotiated New Issues)

Full Credit to Book RunnerPAR AMOUNT ($mm)RANK
Goldman Sachs & Co.185.81
Loop Capital Markets180.42
Siebert Cisneros Shank & Co.158.53
Barclays155.74
J P Morgan Securities155.35
Bank of America Merrill Lynch142.66
Citi134.47
Morgan Stanley131.18
Ramirez & Co.118.49
Wells Fargo & Co.105.310

Top ten underwriters ranked by average deal size selected from the top 15 underwriters of negotiated bonds nationally in 2015 (multiple issues sold with the same sale date, purpose and issuer are counted as one deal)

Source: Thomson Reuters / SDC