Bank of America tops fragmented asset-backed securities market

The Business Research Company says Bank of America led global asset-backed securities sales in 2024 with a 2% share, as the top 10 players together held just 7% of market revenue. The report points to a crowded market where firms are leaning on securitization platforms, risk analytics, and new structured credit products to win business.

Why it matters: - The asset-backed securities market is still highly fragmented, giving banks, investors, and structured-finance specialists room to compete on deal flow, pricing, and product design. - The market’s low concentration suggests no single firm controls the sector, which can boost competition for origination, distribution, and investor relationships. - Growth in securitized products matters for lenders and asset managers looking for diversified funding, risk transfer, and portfolio returns.

What happened: - The Business Research Company released a market report on the asset-backed securities sector on July 9, 2026. - Bank of America Corporation led global sales in 2024 with a 2% market share, according to the research. - Wells Fargo and Company also held a 2% share in 2024. - Goldman Sachs Group Inc, Morgan Stanley, and Citigroup Inc each held 1%. - Barclays Plc, Deutsche Bank AG, BNP Paribas, HSBC Group, and UBS Group AG each held 0.1%. - The top 10 players accounted for 7% of total market revenue in 2024.

The details: - The report describes major market players as global banking institutions, investment banks, structured finance specialists, and capital market intermediaries. - Bank of America’s global banking and global markets divisions support securitization, structured finance, underwriting, and asset distribution services. - Major companies listed in the market include Wells Fargo, Goldman Sachs, Morgan Stanley, Citigroup, Barclays, Deutsche Bank, BNP Paribas, HSBC, UBS, BlackRock, State Street, Vanguard, Fidelity, Mizuho Financial Group, ING Group, Societe Generale, Franklin Templeton, Janus Henderson, Capital One Financial, WisdomTree, Aegon Asset Management, Eaton Vance, Conning Holdings Limited, and Fitch Ratings. - Major raw material suppliers listed in the report include Capital One Financial, Discover Financial Services, Synchrony Financial, Ally Financial, OneMain Holdings, Navient, SoFi Technologies, LendingClub, Upstart Holdings, Santander Consumer USA Holdings, Toyota Financial Services, Ford Credit, American Express, PNC Financial Services Group, Truist Financial, Fifth Third Bancorp, Regions Financial, Citizens Financial Group, and Credit Acceptance Corporation. - Major wholesalers and distributors include JPMorgan Chase, RBC Capital Markets, Nomura Holdings, Credit Agricole CIB, BMO Capital Markets, Jefferies Financial Group, Standard Chartered, Daiwa Securities Group, NatWest Markets, and Macquarie Group, along with several of the largest U.S. and European banks. - Major end users include BlackRock, State Street, Vanguard, Fidelity, Mizuho Financial Group, ING Group, Societe Generale, Franklin Templeton, Janus Henderson, WisdomTree, Aegon Asset Management, Assicurazioni Generali, PIMCO, T. Rowe Price, Invesco, Amundi, Legal & General Investment Management, Schroders, and MetLife Investment Management. - The report says advanced securitized investment strategies are improving portfolio diversification, liquidity access, and risk-adjusted returns for institutional investors. - In September 2024, Legal & General Investment Management launched the L&G US Securitized Fund and the L&G US Securitized Plus Fund to provide exposure to U.S. investment-grade securitized credit markets. - The report says these funds use a diversified securitized asset allocation framework and enhanced liquidity management capabilities. - The report also highlights digital platforms, institutional investment demand, advanced analytics, strategic partnerships, and product innovation as key strategies shaping the market. - The report’s 2026 edition adds market attractiveness scoring, TAM analysis, company scoring matrices, Excel-based forecasting dashboards, hotspots infographics, and updated graphics and tables.

Between the lines: - The market concentration data points to an industry where scale helps, but broad participation leaves room for specialist firms to gain share. - The emphasis on transparency, credit quality, compliance, and resilient funding structures signals that investor confidence remains central to growth. - The inclusion of supplier, distributor, and end-user categories shows how securitization links lenders, capital markets firms, and asset managers across the financing chain.

What's next: - The report expects transaction innovation, institutional partnerships, and expansion into new asset categories to strengthen leading firms. - Companies are likely to keep investing in securitization platforms, analytics, and structured finance solutions to defend or improve market position. - The Business Research Company is offering a free sample of the report and full access through its website.