Citi, Wachovia Settle Calif. ARS Case

Citigroup and Wachovia have agreed to return a combined $4.7 billion to California investors who bought auction-rate securities from them.

  • 31 Mar 2009
Citigroup and Wachovia have agreed to return a combined $4.7 billion to California investors who bought auction-rate securities from them. The state’s regulator, the Department of Corporations, had charged that Wachovia Securities, Wachovia Capital Markets and Citigroup Markets misrepresented the ARS as safe products equivalent to cash, even ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 81,261.11 236 11.54%
2 Bank of America Merrill Lynch 66,433.81 187 9.43%
3 Wells Fargo Securities 57,637.40 170 8.18%
4 JPMorgan 53,570.42 158 7.61%
5 Credit Suisse 45,349.30 117 6.44%