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 18 consecutive 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

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

2016 Full Year (National Negotiated New Issues)

Full Credit to Book Runner (Equal if Joint)PAR AMOUNT ($mm)RANK
Industry Total43,584.9
Bank of America Merrill Lynch10,196.31
Citi6,496.52
Wells Fargo & Co.4,514.83
Morgan Stanley3,694.24
J P Morgan Securities3,278.95
Goldman Sachs & Co.2,650.96
Siebert Cisneros Shank & Co2,002.77
RBC Capital Markets1,860.18
Barclays1655.99
Ramirez & Co.1,635.710
Loop Capital Markets1,470.711
Piper Jaffray & Co.783.912
Jefferies762.513
PNC Financial Services Group754.314
Raymond James492.115
Stifel Nicolaus & Co.268.016
Robert W Baird & Co.208.017
Cabrera Capital Markets151.918
Oppenheimer & Co.144.219
Frost National Bank107.520
Ameritas Investment Corp.97.121
Hilltop Securities68.022
William Blair & Company40.323
Fifth Third Securities29.524

* (tie)

Source: Thomson Reuters / SDC

Water & Sewer

2016 Full Year (National Negotiated New Issues)

Firm as Senior Manager
First Half of 2015
Par Amt ($MM)Rank
Industry Total33,319.4-
Citi5,567.21
Bank of America Merrill Lynch4,039.82
J P Morgan Securities3,906.33
Morgan Stanley2,542.24
Wells Fargo & Co.2,542.25
Goldman Sachs & Co.2,046.66
RBC Capital Markets1,687.07
Raymond James1,560.49
Piper Jaffray & Co.975.99
PNC Financial Services Group898.510
Stifel Nicolaus & Co.737.411
Jefferies703.512
Siebert Cisneros Shank & Co692.813
Hilltop Securities458.114
Ramirez & Co.421.715
Loop Capital Markets389.116
Robert W Baird & Co.347.917
Samco Capital Markets334.318
George K Baum & Company309.219
Rice Financial Products Company304.920
Barclays288.321
Crews & Associates234.122
D A Davidson & Co.219.123
Boenning & Scattergood217.424
Janney Montgomery Scott213.425

Source: Thomson Reuters / SDC

Mass Transit

2016 Full Year (National Negotiated New Issues)

Full Credit to Book Runner (Equal if Joint)PAR AMOUNT ($mm)RANK
Industry Total11,261.1
Bank of America Merrill Lynch2,422.41
Wells Fargo & Co.2,066.92
Goldman Sachs & Co.1,252.43
Siebert Cisneros Shank & Co1,205.34
Morgan Stanley1,135.45
Citi984.16
Ramirez & Co.782.57
Jefferies645.78
J P Morgan Securities341.29
RBC Capital Markets179.810
Cabrera Capital Markets151.911
Loop Capital Markets44.512
Piper Jaffray & Co.15.413
Stifel Nicolaus & Co.13.714
Stern Brothers & Co.12.115
KeyBanc Capital Markets7.916

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