Originations · Siebert Williams Shank & Co. · Texas
Since I was licensed in November 2020, I have originated 156 municipal transactions for 61 Texas issuers. 60 of them the firm ran as lead or co-lead.
I am the one who brings the issuer in. A school district or a city decides to borrow, and somebody has to get them to the table and to a decision before a single bond prices. This page is that work, counted.
What this is, and what it is not
- The source
- The Municipal Advisory Council of Texas transaction record, covering transactions through 2026-09-15. The Council records which firm underwrote each deal; which banker originated it is my firm's own attribution, not the Council's. I have sat on the Council's board since 2025, so you should know that the source of these figures is a body I am part of. The record it keeps is not about me: it covers every firm's transactions, including the years before I joined the board.
- What par means
- Par is the issuer's full deal size, not my firm's underwriting share and not my revenue. On a co-managed deal the firm takes a slice of it.
- The window
- 2020-11-13 to 2026-09-15. It opens on the day I was registered, so nothing here predates my securities career.
Municipal Advisory Council of Texas · transactions through 2026-09-15
- 156
- Transactions originated since November 2020, all roles
- $29.1B
- Par across them, the issuers' full deal sizes
- 60
- As lead or co-lead manager, $8.9B par
- 61
- Distinct Texas issuers, from school districts to state agencies
By year
From the first year of an Austin office that did not exist before, to 156 transactions.
I was hired in November 2020 to open the firm's Austin office, which did not exist before me. The first full year is 2021. Bars are par, the issuers’ full deal sizes; the figure beside each is the number of transactions I originated that year.
- 2021$3.21B · 24 transactions
- 2022$3.33B · 20 transactions
- 2023$8.16B · 37 transactions
- 2024$6.88B · 31 transactions
- 2025$5.60B · 33 transactions
- 2026$1.93B · 11 transactions
Bars are par, the issuers’ full deal sizes. The second figure is the number of transactions. 2026 runs through 2026-09-15 and excludes four transactions the record shows as not yet priced.
Two roles, and why the difference matters
60 of my 156 transactions were ones my firm ran. The other 96 we co-managed.
The two roles are not the same work and the numbers should not be added as though they were. On a senior-managed deal my firm structured it, priced it and put capital behind it. On a co-managed deal we took a share of an underwriting somebody else ran. If you have sat on the issuer’s side of a syndicate you already know the difference.
Lead or co-lead manager · 60 transactions
$8.9B in par. On these the firm ran the book: we structured the transaction, priced it and put our capital behind it. This is the strongest form of the number on this page, and it is the one I would point a reader at first.
Co-manager · 96 transactions
$20.2Bin par. On these I brought the relationship and the firm took a share of the underwriting alongside others. The par figure is the issuer’s whole deal, not the firm’s share of it and not mine. A co-managed par quoted as a banker’s own production overstates it.
Share of the firm's Texas book · 44%
In the same window the firm closed 352 Texas transactions. 44% of them, and 42% of the par, carry me as the originator. The rest carry no originator at all rather than a colleague’s name, so this is a share of the book and not a ranking against anyone.
The largest, where the firm ran the book
The 12 largest, from $243 million to $598 million.
2025-08-01
Issuer: Spring ISD
Role: Lead Manager
Par: $598.2M
2024-01-15
Issuer: Dallas ISD
Role: Lead Manager
Par: $482.6M
2023-08-15
Issuer: Crowley ISD
Role: Lead Manager
Par: $433.5M
2025-08-26
Issuer: Georgetown ISD
Role: Lead Manager
Par: $334.0M
2025-03-01
Issuer: Arlington ISD
Role: Lead Manager
Par: $326.6M
2025-03-01
Issuer: Texas Tech University System
Role: Lead Manager
Par: $304.3M
2022-10-01
Issuer: Texas State Technical College System
Role: Co-Lead Manager
Par: $298.8M
2023-02-15
Issuer: Spring ISD
Role: Lead Manager
Par: $293.5M
2023-02-01
Issuer: Pflugerville ISD
Role: Lead Manager
Par: $293.4M
2022-09-15
Issuer: Del Valle ISD
Role: Lead Manager
Par: $268.5M
2024-08-15
Issuer: Crowley ISD
Role: Lead Manager
Par: $245.3M
2024-08-01
Issuer: Cedar Hill ISD
Role: Co-Lead Manager
Par: $243.4M
| Priced | Issuer | Role | Par |
|---|---|---|---|
| 2025-08-01 | Spring ISD | Lead Manager | $598.2M |
| 2024-01-15 | Dallas ISD | Lead Manager | $482.6M |
| 2023-08-15 | Crowley ISD | Lead Manager | $433.5M |
| 2025-08-26 | Georgetown ISD | Lead Manager | $334.0M |
| 2025-03-01 | Arlington ISD | Lead Manager | $326.6M |
| 2025-03-01 | Texas Tech University System | Lead Manager | $304.3M |
| 2022-10-01 | Texas State Technical College System | Co-Lead Manager | $298.8M |
| 2023-02-15 | Spring ISD | Lead Manager | $293.5M |
| 2023-02-01 | Pflugerville ISD | Lead Manager | $293.4M |
| 2022-09-15 | Del Valle ISD | Lead Manager | $268.5M |
| 2024-08-15 | Crowley ISD | Lead Manager | $245.3M |
| 2024-08-01 | Cedar Hill ISD | Co-Lead Manager | $243.4M |
Every issuer on this page started with a conversation about capacity, not about a bond.
Austin, Texas. Working with school districts, cities, counties, community colleges, universities and state agencies across the state.