Bank of America Tops Municipal Underwriter Ranks for Fourth Year
- Investment banks manage more tax-exempt bond sales for less
- Underwriting fees on no-bid deals fall to seven-year low
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John Lawlor, the head of Bank of America Corp.’s municipal-bond department, is a graduate of the U.S. Naval Academy. In 2015, he navigated the second-largest U.S. bank by assets to the top of the muni-bond underwriting table for the fourth straight year.
Charlotte, North Carolina-based Bank of America managed almost $52 billion of state and local government debt sales through Dec. 22. Citigroup Inc. and JPMorgan Chase & Co. and Citigroup Inc. are battling for second place, according to data compiled by Bloomberg.