Merrill Lynch & Co. led all underwriters by managing $842.5 million in initial public offerings in the first quarter, according to data compiled by Bloomberg News.
The Wall Street behemoth was followed by Credit Suisse First Boston, at $833.6 million, and J.P. Morgan Securities, at $605.4 million.
Friedman, Billings, Ramsey & Co. of Arlington, Va., showed the biggest growth, leading IPOs worth $499 million, up from $141 million in the fourth quarter.
"This is a remarkable achievement for our young firm," said its president, W. Russell Ramsey, in a press release.