FTN Financial Said To Be Downsizing CMO Effort

  • 13 Oct 2002
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FTN Financial released collateralized mortgage obligation structuring veteran Charles Smart just seven months after being brought on to add to its nascent New York mortgage effort (BW, 2/3). Smart was not able to be reached. He had overseen the issuance of four seperate $250 million deals, transactions that had been highly profitable for the growing regional dealer, according to several FTN Financial insiders. Deke Iglehart, the Memphis-based head of fixed-income sales and trading, declined to comment, citing corporate policy. John Hanlon, the head of the CMO effort, was vacationing in Italy and was due back today.

The move caught Street CMO dealers off-guard. "I don't know why they did this: the guy put them in the tables, they made money and the clients know him. They were small transactions, so they can't argue that they were having all the capital tied up," said one CMO trader who had worked with Smart. Prior to joining FTN Financial, Smart had co-headed the MBS desk at Nomura Securities International until 2000, and most recently, had run analytics at Visible Markets.

  • 13 Oct 2002

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Mar 2018
1 Citi 21,508.91 55 12.80%
2 Bank of America Merrill Lynch 19,936.86 52 11.86%
3 Wells Fargo Securities 15,619.02 45 9.29%
4 JPMorgan 12,136.94 40 7.22%
5 Credit Suisse 10,224.78 18 6.08%