The leading firm in an underwriting group, which originates the deal and acts as an agent for the group.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
See lead underwriter.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.