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Managing Underwriter |
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Managing underwriter The leading firm in an underwriting group, which originates the deal and acts as an agent for the group. Lead Arranger In investment banking, an underwriting firm that leads a syndicate. A syndicate is a group of underwriters responsible for placing a new issue of a security with investors. Every syndicate is a temporary arrangement. The lead arranger assigns parts of the new issue to other underwriters for placement and usually takes the largest part itself. It is also called a managing underwriter or a syndicate manager or, less formally, a book runner.
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