Firm Ranked #1 in South Central Region for 18th Consecutive Year
MEMPHIS, Tenn. (Jan. 18, 2010) — Morgan Keegan was the ninth leading underwriter of municipal bonds in the country for 2010, serving as book running manager on 751 issues with a par amount of $13.4 billion, according to Thomson Reuters, one of the nation’s leading municipal bond information services. (See rankings.)
“Our continued growth in municipal bond underwriting is a result of our concentrated focus on solving the sometimes complex financing needs of our issuer clients,” said Rob Baird, president of Morgan Keegan’s Investment Banking division. “By providing idea-oriented investment banking services to issuers throughout the country and building relationships based on mutual confidence and trust with our clients, we expect to further increase our market share and remain a top ten underwriter in 2011.”
Furthermore, for the 18th consecutive year, Morgan Keegan dominated municipal bond underwriting in the South Central region of the U.S. in 2010. The six-state region includes Alabama, Arkansas, Kentucky, Louisiana, Mississippi and Tennessee. Serving as senior manager on 297 issues with a par value of $4.7 billion, the firm captured a 17.5 percent market share.
Morgan Keegan was also the leading municipal bond underwriter, in number of completed transactions, in the 10-state Southeast region of the country that includes Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. The firm senior managed 328 issues with a par value of $6.8 billion.
Other notable achievements in 2010:*
- #1 underwriter – as book-running manager – in Alabama, New Hampshire, Tennessee and Virginia;
- Top 10 underwriter in Arkansas, Connecticut, Florida, Georgia, Kentucky, Louisiana, Maine, Maryland, Mississippi, Rhode Island, South Carolina and Texas;
- Top 10 underwriter in industry sectors including airports, higher education, housing, public power, schools, water/sewer/gas;
- #1 underwriter of Bank Qualified competitive issues: 270 issues with a par amount of $1.7 billion;
- #1 underwriter of Qualified School Construction competitive issues: 27 issues with a par amount of $273.6 million.
About Morgan Keegan
Morgan Keegan & Company Inc. is a full-service brokerage and investment banking firm and the securities brokerage arm of Regions Financial Corporation (NYSE: RF). Headquartered in Memphis, Tenn., Morgan Keegan serves individual and institutional investors in over 300 offices in 19 states. Additional information about Morgan Keegan and Regions — a member of the S&P 100 Index — can be found here and at www.regions.com.