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.

The firm holds the distinction of being the top-ranked minority- and woman-owned municipal bond underwriter for 19 of 21 years and the first to be ranked in the top 10 among all firms as lead manager. *

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 2016, our firm had served as a managing underwriter for public financings totaling more than $1.4 trillion in total par amount since the firm’s inception in 1996.

*Source: Thomson Reuters/SDC

Senior Manager Rankings

National Senior Manager

2017 Full Year (Negotiated New Issues)

Full Credit to Book Runner (Equal if Joint)PAR AMOUNT ($mm)RANK
Industry Total311,423.9--
Bank of America Merrill Lynch40,104.11
Citi35,387.12
J P Morgan Securities29,590.93
RBC Capital Markets24,091.24
Goldman Sachs & Co.22,906.75
Morgan Stanley21453.26
Stifel Nicolaus & Co.17,887.17
Wells Fargo & Co.14,522.88
Barclays13,276.09
Piper Jaffray & Co.12,637.110
Raymond James11,902.011
Jefferies8,574.412
Siebert Cisneros Shank & Co.7,274.913
Loop Capital Markets5,129.314
D A Davidson & Co.4,533.315
Ramirez & Co.4,032.616
Ziegler3,188.617
Robert W Baird & Co.3,023.818
George K Baum & Co.2,954.619
PNC Financial Services Group2,164.120
Hilltop Securities1,663.821
KeyBanc Capital Markets1,409.922
BOK Financial Securities1,259.723
Fifth Third Securities1,212.024
BB&T Capital Markets1,194.925

Source: Thomson Reuters / SDC

MBE Rankings

2017 Full Year (Municipal Negotiated New Issues)

FULL TO BOOK RUNNERPAR AMOUNT ($mm)RANK
Siebert Cisneros Shank7,274.91
Loop Capital Markets5,129.32
Ramirez & Co.4,032.63
Stern Brothers & Co439.14
Rice Financial Products Co.391.05
Cabrera Capital Markets352.96
Estrada Hinojosa & Co.341.37
Duncan-Williams Inc.93.08
Powell Capital Markets Inc90.99

Source: Thomson Reuters / SDC

Airports

2017 Full Year (National Negotiated New Issues)

Full Credit to Book Runner (Equal if Joint)PAR AMOUNT ($mm)RANK
Industry Total13,443.2
Citi4,092.71
Bank of America Merrill Lynch2,206.52
RBC Capital Markets1,337.63
Morgan Stanley1,143.14
Goldman Sachs & Co.1,026.75
J P Morgan Securities902.36
Loop Capital Markets812.57
Wells Fargo & Co.608.08
Siebert Cisneros Shank & Co.520.39
Jefferies438.510
Raymond James275.511
Barclays169.512
Stern Brothers & Co.129.213
Stifel Nicolaus & Co.104.814
Piper Jaffray & Co.70.015
Ameritas Investment60.716
Robert W Baird & Co.15.617
Wells Nelson & Assoc.11.018
George K Baum & Co.8.719
Harbor Financial Services5.920
D A Davidson & Co.3.621
KeyBanc Capital Markets.522

Source: Thomson Reuters / SDC

Transportation

2017 Full Year (National Negotiated New Issues)

Full Credit to Book Runner (Equal if Joint)PAR AMOUNT ($mm)RANK
Industry Total53,463.8
Bank of America Merrill Lynch12,339.71
Citi9,201.42
Goldman Sachs & Co.5,795.93
J P Morgan Securities5,416.14
RBC Capital Markets3,221.35
Goldman Sachs & Co.2,650.96
Loop Capital Markets3,120.57
RBC Capital Markets1,860.18
Siebert Cisneros Shank & Co2,158.49
Barclays1,096.410
Ramirez & Co.1,095.711
Jefferies914.012
Piper Jaffray & Co.908.913
Raymond James461.014
Stifel Nicolaus & Co.492.115
Stifel Nicolaus & Co.287.316
Ameritas Investment108.517
Hilltop Securities107.118
PNC Financial Services Group101.619
NW Capital Markets75.720
KeyBanc Capital Markets48.221
Robert W Baird & Co.43.322
D A Davidson & Co.34..523
Fifth Third Securities34.524
US Bancorp26.725

* (tie)

Source: Thomson Reuters / SDC

Water & Sewer

2017 Full Year (National Negotiated New Issues)

Full Credit to Book Runner (Equal if Joint)Par Amt ($MM)Rank
Industry Total25,752.0-
Bank of America Merrill Lynch4,045.41
Morgan Stanley3,587.72
Citi2,381.13
Barclays2,176.14
Wells Fargo & Co.1,659.55
RBC Capital Markets1,624.66
Siebert Cisneros Shank & Co1,414.57
Goldman Sachs & Co.1,182.58
Raymond James993.79
J P Morgan Securities616.410
George K Baum & Co.586.311
Stifel Nicolaus & Co.586.212
Piper Jaffray & Co.526.013
Jefferies462.514
Mesirow Financial318.315
PNC Financial Services Group313.116
BOK Financial Securities310.417
Janney Montgomery Scott 277.218
Boenning & Scattergood200.019
Cabrera Capital Markets199.420
Hilltop Securities198.021
Loop Capital Markets171.522
Robert W Baird & Co.161.123
D A Davidson & Co.150.224
Ameritas Investment128.925

Source: Thomson Reuters / SDC

General Purpose

2017 Full Year (National Negotiated New Issues)

Full Credit to Book Runner (Equal if Joint)PAR AMOUNT ($mm)RANK
Industry Total52,466.3
Citi6,496.61
Bank of America Merrill Lynch4,713.92
Jefferies4,415.43
Goldman Sachs & Co.4,406.14
Morgan Stanley4,072.35
RBC Capital Markets3,074.46
J P Morgan Securities2,724.97
Jefferies2,615.28
Siebert Cisneros Shank & Co2,472.29
Loop Capital Markets1,650.010
Raymond James1,639.311
Ramirez & Co.1,539.912
Barclays1,471.113
Piper Jaffray & Co.1,406.314
Stern Brothers & Co.12.115
D A Davidson & Co.1,309.016
Robert W Baird & Co.574.717
PNC Financial Services Group539.918
Roosevelt & Cross411.019
Hilltop Securities342.220
M&T Securities295.921
Boenning & Scattergood268.122
FMSbonds252.323
Stephens Inc.224.624
Hutchinson Shockey Erley & Co.221.225

Average Deal Size 2017

2017 Full Year (National Negotiated New Issues)

Full Credit to Book Runner (Equal if Joint)PAR AMOUNT ($mm)RANK
Loop Capital Markets366.3791
Goldman Sachs & Co.289.9582
Siebert Cisneros Shank & Co.242.4973
Ramirez & Co.224.0334
Jefferies194.8735
J P Morgan Securities LLC175.0946
Bank of America Merrill Lynch171.3857
Barclays156.1888
Citi139.8709
Morgan Stanley137.52110

Top ten underwriters ranked by average deal size selected from the top 15 underwriters of negotiated bonds nationally in 2017 (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