Managing Underwriter Law and Legal Definition

Managing underwriter is an underwriting firm that leads a syndicate. The firm works on behalf of a syndicate of underwriters to perform such functions as:

1) dealing with the registrant;

2) organizing the securities selling effort; or

3) representing other underwriters in such areas as arranging the allotments of offered securities or appropriate stabilization activities.

The lead underwriter 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, a syndicate manager, a lead manager or a lead underwriter.