Citigroup Global Markets secured the top spot in the ABS underwriter league tables for 2003, maintaining a $10 billion lead on its closest competitor.
In 2003, Citigroup sold $65.2 billion of primary ABS volume - a 31.9% increase in business from the prior year when it finished as the third-leading underwriter. Citigroup controlled 11.3% of the ABS market in 2003, up from the 10.8% market share it held in 2002, according to numbers tracked by Thomson Financial.
Citigroup's lead is padded by its in-house credit card issuer Citibank N.A., which priced over $13 billion of credit card-backed ABS from its credit card issuance trust shelf, including a $2.5 billion …
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