What do underwriter co-managers typically do?

Underwriter co-managers play a vital role in the underwriting process by placing orders and providing market information. Their responsibilities include gathering demand for the securities being issued, which helps inform the overall strategy and execution of the bond issuance.

By effectively communicating market conditions and investor interest, underwriter co-managers assist the lead underwriter in making informed decisions about the timing and pricing of the securities. They leverage their relationships and insights to enhance the distribution of the bonds, ensuring that the offering can achieve its objectives in terms of both pricing and allocation.

The other roles mentioned in the other choices are not typical of underwriter co-managers. They do not independently manage all underwriting tasks, nor do they set bond pricing and issue terms, which are primarily the responsibilities of the lead underwriter. Additionally, serving as legal counsel is outside their function, as legal aspects are generally handled by specialized attorneys or legal teams involved in the underwriting process.