BNET Industries

Market Cap:$7.2B
Last Fiscal Year Sales:$687.0M
  • Public
  • US
Dow Jones Description

FBR Capital Markets Corporation (FBR Capital Markets; NASDAQ:FBCM) is a top ten investment bank1 with an international franchise, one of the strongest equities distribution capabilities in the securities industry and an active asset management business. From 2003 to 2008, FBR Capital Markets' Investment Banking group has been ranked as the: - #3 book-running manager of all common stock offerings for U.S. companies with a market capitalization of $1 billion or less in the last five years2 - #1 book-running manager for all U.S. IPOs and 144A equity placements combined for all industries3 - #1 book-running manager of all common stock offerings for domestic mining, oil and gas, and utility and energy companies, with a market capitalization of $1 billion or less4 - #1 book-running manager of all common stock offerings for U.S. and Bermuda finance and insurance companies with a market capitalization of $1 billion or less5 FBR Capital Markets focuses its banking, advisory, trading and research efforts inA seven broad industry sectors including consumer, diversified industrials, energy & natural resources, financial institutions, insurance, real estate and technology, media & telecom.A With our headquarters in the Washington, D.C. metropolitan area, our Washington Policy Analysis group offers clients a comprehensive overview of national economic trends along with a unique perspective on the impact that legislation and regulation will have on industry sectors and individual companies.

Chairman and Chief Executive Officer
Eric F. Billings
Number of Employees 579
Contact Information

1001 19th St N

Arlington, Virginia 22209-1722

fbr.com

(703) 312-9500

NAICS Code : 525930

Recent Events

  • Stocks Retreat as Home Depot Drags

    11/30/09 - Bond / Stock Rating - View Story

  • STOCKS NEWS US-BofA to sell long-term asset management unit

    9/30/09 - Financial Announcement - View Story

  • HEADLINE STOCKS-Some U.S. stocks to watch on June 23

    6/23/09 - Bond / Stock Rating - View Story

News & Analysis

friedman billings ramsey and ipo - All News and Analysis

Decision Makers

Name (plus bio) Position
Richard Hendrix President & CEO
Timothy H Burns Chief Executive Officer of Friedman, Billings
David H Ellison President, Fbr Fund Advisers, Inc., President and Chief Investment Officer, Fbr Equity Funds
J Rock Tonkel Jr President and Chief Operating Officer
Mike Michael President and Chief Operating Officer of The Ohio Casualty Insurance Company
Ralph S. Michael President and Chief Operating Officer of The Ohio Casualty Insurance Company
Bill Stephens Chief Marketing Officer
Bradley J. Wright Executive Vice President and Chief Financial Officer
Brian J Bowers Chief Investment Officer and Portfolio Manager
Kurt R. Harrington Executive Vice President & Chief Financial Officer
Margret Nedelkoff Managing Director and Chief Administrative Officer
Nicholas J. Nichols Chief Compliance Officer
Robert C. Dean Chief Operating Officer
Robert Kiernan Senior Vice President, Controller and Chief Accounting Officer (Principal Accounting Officer)
Russell M. Parker Senior Managing Director, Chief Marketing and Distribution Officer
Timothy Wood CIO
William J. Ginivan Ex Vice President & Chief Legal Officer
James C. Neuhauser Executive Vice President and Head of Investment Banking
James R. Kleeblatt Executive Vice President and Head of Capital Markets
Jonathan L Billings Executive Vice President & Head, Institutional Brokerage
Robert S. Smith Executive Vice President
Clay Sumner senior vice president
David C Robertson Senior Vice President, Merchant Banking
Rehan Rashid Senior Vice President
Robert Uhl senior vice president
Therese A. Bracken Senior Vice President, Tax, Accounting
Brian Coyne vice president
Daniel Ives vice president
Monte Lehmkuhler Vice President
Patrick McCarthy vice president
Adam Fishman Senior Managing Director and Head of Institutional Sales
Bijan Moazami Managing Director, Insurance
Charles Crowley Managing Director, Finance Institutions
Charlie Thompson Senior Managing Director
Daniel W. Blood Senior Managing Director and Head of Debt Capital Markets
David Deruff Senior Managing Director and Group Head of Technology, Media & Telecom
David Loeb Managing Director, Real Estate
David M. Hilal Managing Director, Technology
David M. Khani Managing Director, Energy
David R. Dunn Managing Director
David S. Moskowitz Managing Director, Healthcare
Derek Mattson Managing Director, Technology, Telecomm
Dorian A. Prosdocimi Managing Director
Edward M. Wheeler Managing Director, Merchant Banking
George L. McCabe Managing Director, Private Equity
Jack Maier Senior Managing Director and Co-Head
James R. Hill Managing Director, Finance Institutions
James S. Redpath Managing Director
Jim Frawley Senior Managing Director and Group Head
Joseph R. Nardini Managing Director, Diversified Industrials
Kenneth P. Slosser Managing Director, Finance Institutions
Laurie Hunsicker Managing Director
Merrill Ross Managing Director, Real Estate
Michael Lloyd Senior Managing Director & Group Head of Credit, Options and Convertible Securities
Michael McClintock Managing Director
Michael Swell Senior Managing Director
Michael Warden Managing Director, Asset, Backed Securities
Mindi Harris-McClure Managing Director, Finance Institutions
Mindi McClure Managing Director
N. David Doyle Managing Director, Real Estate
Patrick Keeley Managing Director, Energy
Patrick M Steel Senior Managing Director and Co-Head of Financial Sponsors Group
Paul Morgan managing director
Paul S. Miller Managing Director, Finance Services
Paul S. Rosica Senior Managing Director and Head of Equity, Linked Securities
Paul T. Dell'Isola Managing Director and Head of Capital Markets Sales
Peter N.R. van der Meer Managing Director, Insurance
Philip J. Facchina Senior Managing Director, Technology & Growth
Robert Feinstein Senior Managing Director
Scott Dreyer Senior Managing Director, Trading
Scott Valentin managing director
Steven East Managing Director, Economic & Policy Research
Steven Goldberg Managing Director
Terence R. Grant Managing Director, Energy, Natural Resources
Webb C. Hayes Senior Managing Director
William F. Strome Managing Director, Diversified Industrials
Allison L. Smith Senior Vice President and Director of Internal Audit
Ben Purser Director of Internal Audit
Claire Newman Sales Director
Doris H. McGhee Senior Vice President & Director, HR
Jerry R. Carlsen Senior Vice President & Director, Business & Technology Services
John Mason Director, Sales
Martin Friedman Director, Research
Michael E. Hoffmann Deputy Director, Research
Michael Hoffman Director, Research
Shannon H. Small Senior Vice President & Director, Marketing
Winsor H Aylesworth Senior Vice President, Mutual Funds & Manager, Portfolio
Aether Date
Amir Arif
Andrew Parmentier
Ann M Griffith
Bradley J Ness
Brooks Moore associate analyst
Chris Caso senior analyst
Christopher Penny
Craig Kucera
David Greer
David Marsh
E Stewart Johnson
Fadi Shadid
Francis J "Pope" Fabrizio
Gary B. Townsend
Gavin A. Beske Deputy General Counsel
George Hutchinson
Gregory L Rones
Gustavo Sarago
Henry Fan
Jacques Rousseau
James Abbott
James D David senior member
James Kumpel
James Reddoch
Joseph C Kavanagh
Kevin Book Senior Analyst
Kevin Stein
Mario V Shaffer
Matt Snowling research analyst
Maurice McKenzie
Mehdi Hosseini analyst
Melinda H McClure
Michael Bowen
Michael Ciuffo
Michael D Youngblood
Michael J Cerretani
Mollie Hetzel associate analyst
Ned Armstrong
Neeraj Vohra
Neil Godsey
Paul Della Head of Capital Market Sales at Fbr
Peter Helms
Robert C Barringer
Robert Cole
Robert D Gaynor
Robert Mackenzie senior analyst
Shawn Milne senior analyst
Sothara Chin
Stephen Harrison Jr
Theresa K Balaran senior member
Thomas M Meagher
Wilkes Graham
William J Scott
Alex Rygiel member

Board of Directors

Name (plus bio) Position
Eric F. Billings Chairman and Chief Executive Officer
Emanuel J. Friedman Co-Chairman
Richard A. Kraemer Chairman
Andrew M. Alper Board of Directors
Arthur J Reimers Board of Directors
Daniel J. Altobello Board of Directors
John T. Wall Board of Directors
Joseph Altobello Daniel Board of Directors
Peter A. Gallagher Board of Directors
Richard M. Demartini Board of Directors
Russell C. Lindner Board of Directors
Stephen D. Harlan Board of Directors
Thomas J. Hynes Jr. Board of Directors
Thomas S. Murphy Jr. Board of Directors
W. Russell Ramsey Board of Directors
Wallace L Timmeny Board of Directors
Wallace L. Timmney Board of Directors

Organization Position Status
Fbr Group Co-Chief Executive Officer Current
Fbr Asset Investment Corporation Vice Chairman and Co-Chief Executive Officer of Friedman, Billings, Ramsey Group, Inc. Current
The M & A Researcher Director, Chairman & Chief Executive Officer Current
FBR Capital Markets Corporation Chairman and Chief Executive Officer Current
Friedman, Billings, Ramsey Group, Inc. Chairman and Chief Executive Officer Current
Friedman, Billings, Ramsey Group, Inc. Vice Chairman and Chief Operating Officer Current
Fbr Group Chairman Current
Cardinal's Appeal Co-Chair Current
Key Bridge Capital Chairman Current
Visitors Board of Directors Current
Catholic Charities Board of Directors Current
Washington Scholarship Fund Board of Directors Current
Fbr Vice Chairman Current
Robert H. Smith School of Business Board of Directors Current
Cardinal's Appeal Member Current
Washington Scholarship Fund Member Current
Greater Washington Sports Alliance Chairman & CEO Current
Catholic Charities U.S.A Member Current
Capital Partners, Inc. Member Current
The M & A Researcher President and Chief Operating Officer Former
Johnston, Lemon & Co. Inc. Senior Vice President Former
Fbr Group Founder Former
Friedman, Billings, Ramsey Group, Inc. Administrative Former
Legg Mason Wood Walker, Inc. Former
Legg Mason, Inc. Former
Company 'c' Hair Chairman Former
The M & A Researcher Vice Chairman Former
Friedman, Billings, Ramsey Group, Inc. Director Former
University of Maryland Bachelor of Arts In Economics and Finance Former
The M & A Researcher Bachelor of Arts In Economics and Finance Former

Organization Position Status
Key Bridge Capital President and Chief Executive Officer Current
Friedman, Billings, Ramsey Group, Inc. President & CEO Current
The M & A Researcher President & Chief Operating Officer Current
Friedman, Billings, Ramsey Group, Inc. Member, Office of The Chief Executive of Fbr Group Current
Merchant Banking Principal Current
Fbr Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
Fbr Asset Investment Corporation President Former
Fbr Group President Former
Fbr Asset Investment Corporation Chief Operating Officer Former
Fbr Group Chief Investment Officer Former
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director Former
PNC Capital Markets LLC Managing Director of Pnc Capital Markets' Investment Banking Group Former
Miami University B.S. In Finance Former

Timothy H. Burns is the Chief Executive Officer of Friedman, Billings, Ramsey International Ltd. Prior to joining FBR in 1998, Mr. Burns served as a Managing Director at Bear, Stearns & Co. Inc. from 1994-1998. From 1993-1994, Mr. Burns was Senior Vice President of Institutional Equities at JP Morgan. Prior to that, Mr. Burns served as Senior Vice President of OTC Trading at Bear Stearns & Co. from 1988-1992 and Vice President of OTC Trading at Drexel Burnham Lambert from 1984-1988. Mr. Burns received a B.A. in Political Science from East Carolina University in 1982.

Organization Position Status
FBR Capital Markets Corporation CEO, Fbril Current
Friedman, Billings, Ramsey Group, Inc. Chief Executive Officer of Friedman, Billings Current
The Bear Stearns Companies Inc. Managing Director Former
Friedman, Billings, Ramsey Group, Inc. Managing Director, Sales Trading Former
East Carolina University B.A. In Political Science Former

Organization Position Status
FBR Capital Markets Corporation President, Fbr Fund Advisers, Inc., President and Chief Investment Officer, Fbr Equity Funds Current
Friedman, Billings, Ramsey Group, Inc. President, Fbr Fund Advisers, Inc., President and Chief Investment Officer, Fbr Equity Funds Current
Key Bridge Capital President, Fbr Fund Advisers, Inc., President and Chief Investment Officer, Fbr Equity Funds Current
Friedman, Billings, Ramsey Group, Inc. portfolio manager Former
SmartMoney Former
Rochester Institute of Technology M.B.A. Former
Lawrence University B.A. in Economics Former
St. Lawrence University B.A. In Economics Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. President and Chief Operating Officer Current
FBR Capital Markets Corporation Executive Officer Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
Fbr Group President Former
Friedman, Billings, Ramsey Group, Inc. Member of The Office of The Chief Executive Former
Friedman, Billings, Ramsey Group, Inc. Executive Vice President Former
Friedman, Billings, Ramsey Group, Inc. Managing Director Former
Friedman, Billings, Ramsey Group, Inc. Head of Investment Banking Former
Fbr Group Head of Investment Banking Former
Keefe, Bruyette & Woods Inc. Associate Former
Amherst College Bachelor of Arts Degree In Economics Former

Mike Michael is the President and Chief Operating Officer of The Ohio Casualty Insurance Company.A Mr. Michael is also a director of Key Energy Services, Inc., Integrated Alarm Services Group, Inc. and Cincinnati Bengals, Inc.A In addition, he is a trustee of Xavier University in Ohio.A Prior to becoming President and COO of The Ohio Casualty Insurance Company in 2005, Mr. Michael served as Executive Vice President and Manager of Private Asset Management for U.S. Bank, National Association.A In addition to Private Asset Management, Mike also served as Executive Vice President and Manager of West Commercial Banking and as President of U.S. Bank a " Oregon.A For more than twenty years, Mr. Michael held numerous executive and management positions with PNC Financial Services Group in Pittsburgh, PA.A Michael holds a B.S. in Economics from Stanford University, and an M.B.A. in Business Administration from the University of California at Los Angeles Graduate School of Management.

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. President and Chief Operating Officer of The Ohio Casualty Insurance Company Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current

Organization Position Status
Ohio Casualty Insurance Co. President Current
Friedman, Billings, Ramsey Group, Inc. President and Chief Operating Officer of The Ohio Casualty Insurance Company Current
Ohio Casualty Insurance Co. Chief Operating Officer Current
Friedman, Billings, Ramsey Group, Inc. Chairman Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
AK Steel Holding Corporation Board of Directors Current
Xavier University Board of Directors Current
Ohio Casualty Corporation COO Former
The PNC Financial Services Group Inc. Former
Ohio Casualty Corporation Board of Directors Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Chief Marketing Officer Current
Friedman, Billings, Ramsey Group, Inc. Executive Vice President and Head of Enterprise Operations Current
Art Technology Group, Inc. Vice President Former
Art Technology Group, Inc. General Manager, Government Solutions Former
Denison University BS Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Executive Vice President and Chief Financial Officer Current

Brian J. Bowers is the Chief Investment Officer and Portfolio Manager of Arlington Asset Investment Corp. Mr. Bowers is responsible for the principal investing activities of the firm's portfolio, overseeing the daily investing operations and the direction of the portfolio. Mr. Bowers joined the Company in 2000, and has over 20 years of fixed income experience, portfolio analysis and management. Previously, he was the Chief Portfolio Strategies for BB&T Capital Markets and the Portfolio Manager/Plan Sponsor of CareFirst, Inc. Mr. Bowers earned a Bachelor of Science in Finance from the University of Maryland and an M.B.A. from Loyola College.

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Chief Investment Officer and Portfolio Manager Current
Arlington Asset Investment Corp. Chief Investment Officer and Portfolio Manager Current
BB&T Capital Markets Chief Portfolio Strategist Former
CareFirst of Maryland, Inc. Portfolio Manager Former
Loyola College in Maryland M.B.A. Former
University of Maryland B.S. In Finance Former

Kurt R. Harrington has served as Chief Financial Officer and Treasurer of FBR Asset Investment Corporation (NYSE: FB) since September 1999. Mr. Harrington joined Friedman, Billings, Ramsey Group, Inc. (NYSE: FBR) (FBR Group) in March 1997 as Vice President, Finance/Treasure, and has served as Chief Financial Officer as the Chief Financial Officer of FBR Group since January 2000. From September 1996 to March 1997, Mr. Harrington was a consultant to the venture capital industry. For the five years before then, Mr. Harrington was Chief Financial Officer of Jupiter National, Inc., a publicly-traded venture capital company, and in that capacity, served as a director of a number of companies, including Viasoft, Inc., a publicly-held software company from January 1994 to October 1995. From 1980 to1990, Mr. Harrington served in a number of senior financial accounting and business planning positions at MCI Communications Corporation and Marriott Corporation, in Washington, D.C. He began his career with the public accounting firms of Meahl, McNamara & Co., Boston, and later, Price Waterhouse, Washington, D.C. Mr. Harrington graduated from Nichols College with a Bachelor of Science in Business Administration and is a Certified Public Accountant.

Organization Position Status
The M & A Researcher Chief Financial Officer and Treasurer Current
Arlington Asset Investment Corp. Executive Vice President & Chief Financial Officer Current
Friedman, Billings, Ramsey Group, Inc. Executive Vice President & Chief Financial Officer Current
Fbr Asset Investment Corporation Chief Financial Officer Current
Fbr Group Chief Financial Officer Current
Nichols College Board of Directors Current
The M & A Researcher Board of Directors Current
Fbr Asset Investment Corporation Treasurer Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
Dancesmith Board of Directors Current
Fbr Group Treasurer Current
Fbr Group Executive Vice President Former
Fbr Group Vice President of Finance Former
The Treasure Vice President, Finance Former
Fbr Vice President Finance Former
Friedman, Billings, Ramsey Group, Inc. Finance Executive Former
Marriott Corporation Former
Jupiter, LLC Former
Nichols College Bachelor of Science In Business Administration Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director and Chief Administrative Officer Current
Key Bridge Capital Managing Director and Chief Administrative Officer Current
FBR Capital Markets Corporation Managing Director and Chief Administrative Officer Current
Georgetown University Law Center Juris Doctorate Former
Emory University Juris Doctorate Former
Emory University B.A. Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Chief Compliance Officer Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Chief Operating Officer Current
Freddie Mac senior risk officer Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Vice President, Controller and Chief Accounting Officer (Principal Accounting Officer) Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
Ernst & Young senior manager Former

Russell Parker is Chief Marketing & Distribution Officer of FBR Investment Management, Inc. (FBRIM). Mr. Parker joined FBRIM in July 2007. Prior to joining FBRIM, Mr. Parker worked in sales and marketing management for several leading financial services firms. He has built a successful track record in establishing and expanding distribution and has been responsible for strategic planning, product development, the growth of assets under management, and marketing to retail and institutional clients. Most recently he served as President and Chief Distribution Officer for Active Investment Advisors, Inc., an affiliate of Natixis Global Associates (Natixis), where he led the introduction of innovative index and ETF-based investments to the marketplace. Before joining Natixis, he forged the advisor-assisted business for Janus Capital Management, LLC and launched the Janus Adviser Series of funds. Mr. Parker also directed national account and broker/dealer sales efforts for Nuveen Investments. His marketing experience is also drawn from being a co-founder and Head of Sales for Citibank POS Information Services and earlier roles with Procter & Gamble. Mr. Parker is a Certified Investment Management Analyst. He received his Business Administration and Marketing degree from Villanova University.

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director, Chief Marketing and Distribution Officer Current
Fipsa Board of Directors Current
Citicorp Vice President Former
Citicorp Sales Manager Former
Villanova University BS In Business Administration Former
Villanova University Degree Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. CIO Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Ex Vice President & Chief Legal Officer Current
Key Bridge Capital Executive Vice President and Chief Legal Officer Current
Friedman, Billings, Ramsey Group, Inc. Executive Vice President and Chief Legal Officer Current
FBR Capital Markets Corporation Executive Vice President and Chief Legal Officer Current
FBR Capital Markets Corporation General Counsel & Executive Vice President Former
Fbr Group Deputy General Counsel Former
SLM Corporation General Counsel Former
Georgetown University Bachelor of Arts Former

James Neuhauser is Executive Vice President and Head of Investment Banking. Mr. Neuhauser has worked in the firm's Investment Banking group for more than 15 years during which time he built and led the firm's Financial Institutions, Insurance and Real Estate Investment Banking groups, all of which grew to be industry leaders in capital raising and advisory services. He was also responsible for the firm's recent international expansion, establishing the investment banking platforms in the London and Sydney offices. Prior to joining FBR Capital Markets, Mr. Neuhauser was a Senior Vice President of Trident Financial Corporation, where he specialized in managing stock offerings for mutual to stock conversions of thrift institutions. Prior to joining Trident, Mr. Neuhauser worked in commercial banking with the Bank of New England. Mr. Neuhauser is a member of the company's Executive Committee. He is a CFA charter holder and a member of the Society of Financial Analysts. Mr. Neuhauser received a Bachelor of Arts from Brown University and an M.B.A. from the University of Michigan.

Organization Position Status
FBR Capital Markets Corporation Executive Vice President & Co-Head-Investment Banking Current
Key Bridge Capital Executive Vice President and Head of Investment Banking Current
Friedman, Billings, Ramsey Group, Inc. Executive Vice President and Head of Investment Banking Current
Friedman, Billings, Ramsey Group, Inc. Head of Investment Banking Current
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director, Finance Institutions Former
University of Michigan M.B.A. Former
Brown University Bachelor of Arts Former

James Kleeblatt is Executive Vice President and Head of the Capital Markets group. Mr. Kleeblatt oversees the marketing, pricing and post offering trading of FBR's underwritten and private transactions. Prior to joining FBR in 1995, Mr. Kleeblatt was Executive Vice President of Johnston, Lemon & Co., Inc. from 1972 - 1995. He began his career as an analyst at The Goldman Sachs Group, Inc. in 1970. Mr. Kleeblatt was a founding shareholder and director of District Cablevision, Inc. which secured a cable franchise for Washington, DC. He serves on the board of directors of several Washington-area charitable organizations as well as the Piedmont Environmental Council. Mr. Kleeblatt received both his MBA and a B.A. in Political Science History from George Washington University.

Organization Position Status
FBR Capital Markets Corporation Executive Vice President and Head of Capital Markets Current
Friedman, Billings, Ramsey Group, Inc. Executive Vice President and Head of Capital Markets Current
Key Bridge Capital Current
Johnston, Lemon & Co. Inc. Executive Vice President Former
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director, Syndicate Former
The Goldman Sachs Group, Inc. analyst Former
The George Washington University MBA Former
The George Washington University B.A. In Political Science History Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Executive Vice President & Head, Institutional Brokerage Current
Key Bridge Capital Executive Vice President and Head of Institutional Brokerage Current
FBR Capital Markets Corporation Executive Vice President and Head of Institutional Brokerage Current
Key Bridge Capital Head of Institutional Brokerage Current
Friedman, Billings, Ramsey Group, Inc. Head of Institutional Brokerage Current
Johnston, Lemon & Co. Inc. Former
Bowdoin College Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Executive Vice President Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. senior vice president Current
Legg Mason, Inc. Former
Georgetown University M.B.A. Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Vice President, Merchant Banking Current
Cfa member Former
Coopers & Lybrand, L.L.P. Former
University of Chicago M.B.A. with Honors Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Vice President Current
Fbrdirect Energy & Natural Resources, Managing Director, Group Head Current
Jefferies LLC Former
The University of Houston M.B.A. in finance and accounting Former
The University of Houston B.S. In Accounting Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. senior vice president Current
Friedman, Billings, Ramsey Group, Inc. senior analyst Former
Leerink Swann & Company Former
Wells Fargo Securities Former
University of South Carolina M.B.A. In International Business Former
Purdue University B.S. In Microbiology Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Vice President, Tax, Accounting Current
Ullico, Inc. Vice President, Finance Former
Internal Revenue Service Revenue Agent Former
DePaul University M.S. Taxation degree Former
Miami University B.S.B.A. degree Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. vice president Current
Columbia University M.B.A. in finance Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. vice president Current
Friedman, Billings, Ramsey Group, Inc. analyst Current
Time Warner Inc. Former
Robert H. Smith School of Business M.B.A. Former
The Pennsylvania State University B.S. in finance Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Vice President Current
Key Bridge Capital Vice President Current
FBR Capital Markets Corporation Vice President Current
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director and Head of Trading Current
Key Bridge Capital Senior Managing Director and Head of Trading Current
Key Bridge Capital Head of Trading Current
FBR Capital Markets Corporation Senior Managing Director & Head, Equity Trading Former
Hampden-Sydney College B.A. in Economics Former

Patrick McCarthy joined FBR in October 2002 as a vice president in equity research and became managing director and co-head of the diversified industrials group in October 2006. Mr. McCarthy has primary responsibility for the aerospace and defense industries. Prior to joining FBR, he spent five and a half years with Credit Suisse First Boston as an analyst in the global consumer products equity research group and, before that, in the value-based research group. Prior to CSFB, he was an assistant treasurer at The Bankers Trust Company. Mr. McCarthy was recognized by Forbes magazine (No. 3) and The Wall Street Journal (No. 5) as a top stock picker in the aerospace and defense industry for 2004. Mr. McCarthy graduated from Fordham University in New York with a degree in finance and economics. He is also a chartered financial analyst and a member of the Washington, D.C. and New York Society of Security Analysts.

Organization Position Status
Fbrdirect Vice President Current
Friedman, Billings, Ramsey Group, Inc. vice president Current
Fbrdirect Diversified Industrials, Managing Director, Co-Group Head Former
Bankers Trust Company Inc. Assistant Treasurer Former
Fordham University degree in finance and economics Former

Organization Position Status
Key Bridge Capital Senior Managing Director and Head of Institutional Sales Current
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director and Head of Institutional Sales Current
FBR Capital Markets Corporation Senior Managing Director & Head, Institutional Sales Current
Friedman, Billings, Ramsey Group, Inc. Head of Institutional Salesa Current
Key Bridge Capital Head of Institutional Sales Current
FBR Capital Markets Corporation Head of Institutional Sales Former
Brandeis University Bachelor of Arts In Sociology Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Insurance Current
Morgan Stanley associate research analyst Former
McGill University M.A. in international finance and monetary Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Finance Institutions Current

Organization Position Status
Key Bridge Capital Senior Managing Director and Co-Head of Fbr's Energy & Natural Resources Investment Banking Group Current
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director Current
Legacy Corp Former
Williams College B.A. In Geology Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director and Head of Debt Capital Markets Current

Organization Position Status
East Peak Advisors LLC Senior Managing Director Current
Key Bridge Capital Senior Managing Director Current
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director and Group Head of Technology, Media & Telecom Current
Key Bridge Capital Head of The Technology, Media & Telecom Investment Banking Group Current
Friedman, Billings, Ramsey Group, Inc. Head of The Technology, Media & Telecom Investment Banking Group Current
Montgomery Securities Managing Director Former
East Peak Advisors LLC Co-Founder Former
East Peak Advisors LLC Managing Partner Former
East Peak Advisors LLC Owner Former
University of California, Berkeley B.S. In Business Administration Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Real Estate Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Technology Current
FBR Capital Markets Corporation Senior Managing Director Current
Fbrdirect Senior Managing Director Current
FBR Capital Markets Corporation Associate Director of Research Current
FBR Capital Markets Corporation Group Head of Technology Current
Key Bridge Capital Current
The Washington Society of Investment Analysts, Inc. Board of Directors Current
CFA Institute Board of Directors Current
The Washington Society of Investment Analysts, Inc. Member Current
CFA Institute Member Current
American Management Systems Manager Former
Fbrdirect Group Head Former
Cfa Former
University of Notre Dame B.S. In Mechanical Engineering Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Energy Current
Fbrdirect Director of Research Current
Friedman, Billings, Ramsey Group, Inc. Senior Analyst Current
CFA Institute Member Current
The Washington Society of Investment Analysts, Inc. Member Current
Lehman Brothers Holdings Inc. Former
State University of New York at Binghamton B.A. In Biological Sciences Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director Current
Signal Hill Managing Director Current
Hogan & Hartson LLP Partner, New York Current
Hogan & Hartson LLP Attorney Former
ABRY Partners Inc. Former
Deutsche Bank AG Former
Abs Capital Partners Former
Frontenac Company Former
Madison Dearborn Partners LLC Former
Welsh Carson Anderson & Stowe Former
American University Jd Former
Bucknell University BA Degree In Economics Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Healthcare Current
Caris Managing Director of Healthcare Research Current
Global Pharmaceutical Sourcing Medical Board Member Current
Standard Corporation Analyst Former
UBS Warburg Specialty Pharmaceuticals Analyst Former
Fairleigh Dickinson University M.B.A. In Finance and Pharmaceutical Industry Studies Former
Rutgers University B.S. In Pharmacy Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Technology, Telecomm Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Merchant Banking Current
Key Bridge Capital Current
Private Equity Managing Director Former
Investment Banking Managing Director Former
University of Virginia B.A. Degree In Economics Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Private Equity Current

Jack Maier is Senior Managing Director and Co-Head of FBR's Financial Sponsors group. Prior to joining FBR, Mr. Maier was Managing Director and co-founder of Legacy Partners Group, an independent investment banking and advisory firm, founded in January 2003, and acquired by FBR in 2007. Prior to Legacy, Mr. Maier was a Managing Director in Credit Suisse First Boston's M&A Group in New York and Co-Head of the firm's Global Exclusive Sales Group. Mr. Maier joined CSFB in November 2000 when the company acquired Donaldson Lufkin & Jenrette. Prior to DLJ, Mr. Maier held positions at Wasserstein Perella & Co. and Drexel Burnham Lambert. Mr. Maier currently serves on the boards of several private companies and is active in various charitable and civic organizations. Mr. Maier is a member of the Calloway School Board of Visitors at Wake Forest University and a member of the Advisory Board of the McDonough School of Business at Georgetown University. Mr. Maier earned an M.B.A. from Georgetown University, earning the distinction of University Fellow, and a B.A. in Economics from Wake Forest University.

Organization Position Status
Key Bridge Capital Senior Managing Director and Co-Head of Fbr's Financial Sponsors Group Current
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director and Co-Head Current
FBR Capital Markets Corporation Senior Managing Director and Group Head of Fbr's Financial Sponsors Group Current
Visitors Board of Directors Current
Legacy Partners Group, LLC Managing Director Former
Legacy Partners Group, LLC Co-Founder Former
Georgetown University M.B.A. Former
Wake Forest University B.A. In Economics Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Finance Institutions Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director Current
Harvard Business School M.B.A. Former

Organization Position Status
Legacy Partners Group, LLC Legacy Co-Founder and Managing Director Current
FBR Capital Markets Corporation Senior Managing Director and Group Head of Fbr's Mergers & Acquisitions Investment Banking Group Current
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director and Group Head Current
Key Bridge Capital Senior Managing Director and Group Head of Fbr's Mergers & Acquisitions Investment Banking Group Current
Beacon Group Former
Columbia Business School M.B.A. Former

Organization Position Status
Key Bridge Capital Senior Managing Director, Group Head of Diversified Industrials Current
FBR Capital Markets Corporation Senior Managing Director, Group Head of Diversified Industrials Current
Friedman, Billings, Ramsey Group, Inc. Managing Director, Diversified Industrials Current
American University M.B.A. Former
Duquesne University BSBA Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Finance Institutions Current

Laurie Hunsicker is managing director and co-head of financial institutions research at FBR, where she leads the team responsible for detailed analysis of community banks and thrifts. Ms. Hunsicker has approximately 17 years of experience in the securities industry and is frequently quoted in the financial press, including American Banker, Buyside Magazine, Financial World, Forbes, Investor's Business Daily and SNL Bank & Thrift Daily. She has been a contributing author to American Community Banker's magazine and CBANYS Chronicle magazine. Additionally, Ms. Hunsicker is a regular guest lecturer on finance, and investing and understanding the stock market, in the Introduction to Business/Business Management & Administration class at Germanna Community College in Fredericksburg, Virginia. Ms. Hunsicker received her B.A. in biology from the University of Richmond.

Organization Position Status
Fbrdirect Banks & Thrifts, Managing Director, Co-Group Head Current
Friedman, Billings, Ramsey Group, Inc. Managing Director Current
Fbrdirect Co-Head Former
University of Richmond B.A. In Biology Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Real Estate Current

Michael Lloyd is Senior Managing Director & Group Head of Credit, Options and Convertible Securities for FBR Capital Markets. Prior to joining FBR Capital Markets, Mr. Lloyd served as Senior Managing Director and Global Head of Convertible Trading at Bear Stearns and had responsibility for all primary and secondary capital commitment. During his time at Bear Stearns, he helped build a leading small and mid-cap convertible securities platform. Mr. Lloyd has over twenty years of experience in equity and convertibles trading, having held senior positions at Bear Stearns in New York and London after starting his career in convertibles at Morgan Grenfell.A

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director & Group Head of Credit, Options and Convertible Securities Current
Friedman, Billings, Ramsey Group, Inc. Group Head of Credit, Options and Convertible Securities Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director Current
McCary Stevens Associates, Inc. Board of Directors Current
Canadian Imperial Bank of Commerce Managing Director Former
Harvard University M.B.A. Former
Dartmouth College B.A. Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director Current
Freddie Mac Vice President Former
Freddie Mac Director, Sales, Natl Former
Brandeis University BA in Politics and Economics Former
The London School of Economics General Course Degree Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Asset, Backed Securities Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Finance Institutions Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Real Estate Current

Patrick J. Keeley joined Stifel Nicolaus in May, 2008, as co-head of its Investment Banking Department. He serves on the firms’ Investment Banking Management, Private Placement and Commitment Committees. Prior to joining Stifel Nicolaus, Mr. Keeley was Executive Vice President and Co-Head of Investment Banking of FBR Capital Markets. Prior to that position, Mr. Keeley was Group Head of the Energy & Natural Resources investment banking group at Friedman, Billings, Ramsey & Co., Inc. Under Mr. Keeley’s leadership, FBR’s Energy & Natural Resources group completed 87 transactions representing over $18 billion in market value. Before joining FBR in 1998, Mr. Keeley was a partner at the law firm of Fulbright & Jaworski L.L.P. in Washington, DC. There he represented oil and gas producers, pipelines, distribution companies, refineries, industry associations and independent power producers in commercial transactions and proceedings, administrative proceedings and litigation before the Federal Energy Regulatory Commission, the Department of Energy, the Department of the Interior and various other federal and state courts and commissions. Preceding Fulbright & Jaworski L.L.P. in 1977, Mr. Keeley was an assistant to the General Counsel of the Federal Power Commission in Washington, DC. Mr. Keeley received his B.A. in business administration from Georgetown University in 1970 and his J.D. degree from Fordham University in 1975.

Organization Position Status
Stifel Financial Corp. Senior Managing Director, Co-Head Investment Banking Current
Friedman, Billings, Ramsey Group, Inc. Managing Director, Energy Current
Federal Energy Regulatory Commission Co-Head Current
FBR Capital Markets Corporation Executive Vice President & Co-Head-Investment Banking Former
Federal Energy Regulatory Commission Executive Vice President Former
Fulbright & Jaworski L.L.P. Partner Former
FBR Capital Markets Corporation Co-Head of Investment Banking Former
Federal Power Commission General Counsel Former
Fordham University J.D. Degree Former
Georgetown University B.A. In Business Administration Former
Georgetown University Business Administration Former

Organization Position Status
Key Bridge Capital Senior Managing Director and Co-Head of Financial Sponsors Group Current
FBR Capital Markets Corporation Senior Managing Director and Head of Fbril's European Investment Banking Group Current
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director and Co-Head of Financial Sponsors Group Current
U.S. Department of Agriculture Deputy Chief of Staff Former
U.S. Department of Agriculture Associate Administrator Former
Georgetown University Mba Former
University of London Masters Degree In Legal and Political Theory Former
University of Pennsylvania Ba Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. managing director Current
Salomon Smith Barney, Inc. Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Finance Services Current
American Home Mortgage Corp Former
MGIC Investment Corporation Former
University of Delaware M.S. in economics Former

Paul S. Rosica is Senior Managing Director and Head of Equity-Linked Securities Group within FBR Capital Marketsa Investment Banking division. Mr. Rosica is a twenty year Wall Street veteran, and prior to joining FBR Capital Markets, he served as Senior Managing Director and Global Head of Equity-Linked Capital Markets at Bear Stearns. During his time at Bear Stearns, Mr. Rosica helped build a leading small and mid-cap convertible securities platform.A His previous positions include Senior Vice President responsible for Convertible Origination at Lehman Brothers, Director and Head of Corporate Fixed Income Derivative Origination in Debt Capital Markets at Deutsche Bank and Principal responsible for Corporate Derivative Origination at Bankers Trust Securities/BT Alex Brown.A Mr. Rosica received a Bachelor of Arts in business administration from Franklin & Marshall College and holds an MBA from the Wharton School of the University of Pennsylvania.

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director and Head of Equity, Linked Securities Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director and Head of Capital Markets Sales Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Insurance Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director, Technology & Growth Current
University of Pennsylvania Former
Wharton Graduate School of the University of Pennsylvania M.B.A. Former
University of Maryland B.S. in Accounting Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director Current
Private Wealth Group, LLC Senior Managing Director Current
FBR Capital Markets Corporation Senior Managing Director, Sales, Private Wealth Current
Washington National Opera Board of Directors Current
Johnston, Lemon & Co. Inc. Senior Vice President Former
Duke University Bachelor of Arts Degree Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director, Trading Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. managing director Current
American Banker Former
Snl Corporation Former
American Express Company Former
University of Maryland B.S. in finance Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Economic & Policy Research Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director Current
University of Connecticut B.S. in Finance and Real Estate Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Energy, Natural Resources Current
Wake Forest University B.A. Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Managing Director Current
Riggs National Bank Manager Current
Newtower Trust Company Current
National Development Council Inc Chairman Current
National Rehabilitation Hospital Chairman of the Board Current
CERBCO, Inc. Director Current
United Bancshares, Inc. CEO Former
United Bancshares, Inc. President Former
Riggs National Bank Senior Vice President Former
Federal Reserve Bank of Richmond Senior Vice President Former
Riggs National Bank Chairman Former
Nrh Regional Rehab Chairman Former
Federal Reserve Bank of Richmond Chairman Former
Federal Reserve Bank of Richmond Director Former
United Bancshares, Inc. Director Former
The University of North Carolina B.A. Former
Columbia University executive management degree Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Managing Director, Diversified Industrials Current
South Street Securities Board of Directors Current
The PNC Financial Services Group Inc. Senior Vice President Former
The PNC Financial Services Group Inc. Corporate Secretary Former
PNC Capital Markets LLC Former
University of Pittsburgh J.D. Former
Northwestern University J.D. Former
University of Pittsburgh M.B.A. Former
Northwestern University B.A. In Economics Former

Allison L. Smith is Senior Vice President and Director of Internal Audit for FBR Capital Markets Corporation and FBR Group.A She and her team are responsible for providing internal audit, risk assessment, advisory functions and Sarbanes-Oxley compliance throughout FBR Capital Markets and FBR Group. Joining FBR in 2005, Ms. Smith brings more than ten years of financial services experience to the firm.A She began her career at Franklin Templeton Investments and subsequently joined Morgan Stanleya s Prime Brokerage division, managing large hedge fund clients.A Prior to joining FBR, Ms. Smith served as Vice President for a hedge fund located in Palm Beach , Florida , and was previously a senior consultant for Protiviti, providing internal audit and risk consulting services. Ms. Smith received a Bachelor of Science in finance and marketing from Florida Atlantic University and is a Certified Public Accountant.A She is a member of the Northern Virginia Chapter of the Institute of Internal Auditors and the Internal Audit Division of the Securities Industry and Financial Markets Association.

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Vice President and Director of Internal Audit Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Director of Internal Audit Current
Federal Deposit Insurance Corporation Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Sales Director Current
Harvard University B.A. cum laude in Government Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Vice President & Director, HR Current
Freddie Mac Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Vice President & Director, Business & Technology Services Current
University of Phoenix MBA In Global Management Former
Convera Inc. Former
Excalibur, Inc. Former
Executive Office Former
Convera Inc. Former
Excalibur Technologies Former
Golden Gate University Masters Former
University of Phoenix MBA Former
California State University BA in Criminal Justice Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Director, Sales Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Director, Research Current
Friedman, Billings, Ramsey Group, Inc. Director, Research Former
University of Maryland B.S. in finance Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Deputy Director, Research Current
Friedman, Billings, Ramsey Group, Inc. Deputy Director, Research Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Director, Research Current
Friedman, Billings, Ramsey Group, Inc. Director, Research Former
Widener University B.S.E. in mechanical engineering Former

Shannon Small is FBR?s Senior Vice President and Director of Corporate Marketing and Communications with responsibility for the firm?s branding, advertising, conferences, client programs, materials, and sponsorships.? She and her team are also responsible for the client programs and promotion of the FBR Open. Having specialized in professional services marketing, Ms. Small brings more than 10 years of marketing and sales experience to FBR.? Prior to joining FBR, Ms. Small held several senior positions in real estate and technology.? Most recently, she served as Vice President of Marketing for Akridge, a leading commercial real estate firm based in Washington where she led corporate branding, investor relations, special events, project marketing and public relations initiatives.? She earned a BS in economics and political science from Miami University in Oxford, Ohio. Ms. Small is active in a number of business organizations.? She was the founder of the Washington Real Estate Marketing Group, a charter member and past chair of the Greater Washington Board of Trade?s Marketing Executive Network and is a member of the Financial Communications Society.? She also serves on various committees for St. Patrick?s Episcopal Church and Day School.

Organization Position Status
FBR Capital Markets Corporation Senior Vice President and Director of Marketing & Communications Current
Key Bridge Capital Senior Vice President and Director of Marketing, Communications and Employee Programs Current
Friedman, Billings, Ramsey Group, Inc. Senior Vice President & Director, Marketing Current
Akridge Vice President of Marketing Former
Miami University BS in economics and political science Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Vice President, Mutual Funds & Manager, Portfolio Current
Bank of Boston Executive Vice President Former
DePaul University M.B.A. Degree Former
Florida State University M.S. Degrees In Meteorology Former
Florida State University B.S. Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current

Organization Position Status
Fbrdirect Energy & Natural Resources, Senior Analyst, Senior Vice President Current
CFA Institute Member Current
Friedman, Billings, Ramsey Group, Inc. Current
CFA Institute Member Current
Amir Arif Master Limited Partnerships Former
Fbrdirect Master Former
University of Calgary M.B.A. In Finance Former
University of Alberta B.S. In Petroleum Engineering Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Key Bridge Capital Current
FBR Capital Markets Corporation Current
Testing, Inc. Director Former
University of Illinois Juris Doctor Degrees Former
University of Illinois Bachelor of Arts Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
The Wall Street Journal Former
Starmine Corporation Former
Cfa Former
Indiana University B.S. Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. associate analyst Current
Zions Bancorporation regional credit manager Former
University of Utah B.S. in finance Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. senior analyst Current
Fbrdirect Senior Analyst Current
SoundView Technology Group, Inc. Senior Analyst Former
BOC Edwards Former
New York University M.B.A. from the Stern School Former

Christopher Penny, managing director in the technology, media & telecom group, joined FBR in 1998. Prior to joining FBR, Mr. Penny worked as a consultant at Electronic Data Systems (EDS), assisting in the financial and managerial reengineering of federal information systems. Based on his experience at EDS, Mr. Penny acquired a solid understanding of the operating methodologies involved with technology systems integration. His early work at FBR within the financial services and IT services industries, as well as his experience at EDS, provides great market insight into his new Internet services coverage. Prior to joining EDS, Mr. Penny spent six years as a commissioned officer in the Naval Nuclear Submarine program. He received his B.S. in computer science and his M.B.A. in finance, magna cum laude, from the University of Notre Dame.

Organization Position Status
Fbrdirect Managing Director Current
Friedman, Billings, Ramsey Group, Inc. Current
Electronic Data Systems Corporation Consultant Former
University of Notre Dame B.S. In Computer Science and M.B.A. In Finance, Magna Cum Laude Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
The Bear Companies Director Current
Bradley University B.S. in biology Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Lehman Brothers Holdings Inc. Former
Merrill Lynch & Co., Inc. Former
Canadian Imperial Bank of Commerce Former
PricewaterhouseCoopers Former
Columbia University M.B.A. Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
USF&G Former
KPMG International Former
University of Maryland M.S. in Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current

Gary Townsend has more than 20 years of experience in the analysis of U.S. financial institutions. In 1998, Mr. Townsend joined FBR after 15 years as a federal bank regulator. Mr. Townsend currently covers super-regional, regional, and community banks throughout the United States. In 1990 97, he was director of the Office of Examination and Supervision, Federal Housing Finance Board, regulator of the Federal Home Loan Bank System. Prior positions also include examiner of the Federal Farm Credit Bank System and economic consultant on international trade issues. Mr. Townsend received his M.B.A. from George Washington University in 1979.

Organization Position Status
Fbrdirect Banks & Thrifts, Senior Analyst, Senior Vice President Current
Friedman, Billings, Ramsey Group, Inc. Current
The George Washington University M.B.A. Former

Gavin A. Beske is Deputy General Counsel at FBR Capital Markets.A Mr. Beske is principally responsible for the legal oversight of FBRa s investment banking activities.A Prior to joining FBR Capital Markets, Mr. Beske was in private practice in the San Francisco and Washington, DC offices of Gibson, Dunn & Crutcher LLP where he focused on securities offerings, mergers and acquisitions and venture capital investments.A Mr. Beske received a Bachelor of Arts from Princeton University and his law degree from Columbia University Law School, where he was Managing Editor of the Columbia Law Review and a Harlan Fiske Stone scholar.

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Deputy General Counsel Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Massachusetts Institute of Technology Ph.D. degree Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Exxon Mobil Corporation Former
Cfa Former
New York University M.B.A. in finance Former

James Abbott is a research analyst in the financial services research group of FBR, covering companies within the thrift and community bank sector. Prior to joining FBR in April 2001, Mr. Abbott worked at SNL Financial as a senior bank and thrift research analyst, beginning in July 1998. Prior to his experience at SNL Financial, Mr. Abbott worked in retail trading at Fidelity Investments. Prior to Fidelity, Mr. Abbott worked in retail banking for First Security Corporation (now a subsidiary of Wells Fargo & Company), a $20+ billion bank prior to its acquisition. Mr. Abbott received his B.S. in finance from the University of Utah.

Organization Position Status
Fbrdirect Banks & Thrifts, Senior Analyst, Senior Vice President Current
Friedman, Billings, Ramsey Group, Inc. Current
First Security Company, Inc. Former
Wells Fargo & Company Former
University of Utah B.S. In Finance Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. senior member Current
College of William & Mary M.B.A. Former
Georgetown University M.S.T. Former
College of William & Mary M.B.A. Former
Cornell University B.S. Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Cfa Former
Raymond James Financial, Inc. Former
Duke University M.B.A. Former
Cornell University bachelor's degree Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Yale University postdoctoral fellow Former
Banc of America Securities LLC Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Wachovia Securities, LLC Director Former
New York University MBA Former
Washington and Lee University B.S. Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Senior Analyst Current
The Motley Fool, Inc. senior director Former
Federal Bureau of Investigation Former
Tufts University Master of Arts in Law and Diplomacy with concentrations in technology policy and international finance Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Federal Deposit Insurance Corporation Associate Director Former
Home Savings of America Former
Carnegie Mellon University M.B.A. Former
Syracuse University B.S. Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Verticalnet, Inc. Senior Vice President of Business Development and International Division Former
Presidents Council member Former
New Enterprise Associates executive-in-residence Former

Matt Snowling joined FBR's financial institutions research group in January 1999 as a research analyst covering government-sponsored enterprises, super-regional banks, and money-center banks. In 2003, Mr. Snowling was chosen to spearhead FBR's coverage of investment services companies, which include asset managers and online brokers. Since then, he has received the No. 1 ranking in earnings accuracy, was recognized as one of the top three stock pickers for the capital markets industry, and was rated as one of the top 10 earnings estimators overall in the Forbes.com/StarMine's 2004 and 2005 Best Analyst Awards. Most recently, he was recognized on the first Forbes.com/StarMine Honor Roll in 2006 a "best of the best" elite list of the top 10 securities analysts. In addition to his coverage of the investment services industry, Mr. Snowling follows the student loan industry. Through his work over the past seven years on the industry, Mr. Snowling is considered one of the leading analysts covering lenders operating in the federal student loan program, as well as the emerging private loan industry. Prior to joining FBR, Mr. Snowling worked at USF&G Insurance, specializing in tax issues for the company's investment properties. Prior to that, he worked for three years as a senior accountant for the National Retail Federation. Mr. Snowling received his M.B.A. and his B.S. in accounting from the University of Maryland. Mr. Snowling was designated as a certified public accountant (CPA) and has received the CFA designation.

Organization Position Status
Fbrdirect Investment Services, Managing Director Current
Friedman, Billings, Ramsey Group, Inc. research analyst Current
National Retail Federation senior accountant Former
University of Maryland M.B.A. Former
University of Maryland B.S. In Accounting Former

Organization Position Status
Signal Hill Capital Group LLC Director Current
Friedman, Billings, Ramsey Group, Inc. Current
Gannett Co., Inc. internal auditor Former
University of Michigan Business School Consortium Fellow Former
George Mason University B.S. in accounting Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. analyst Current
University of Florida M.S.E.E. Former
Carnegie Mellon University M.B.A. Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Financial Institutions, Inc. Senior Managing Director Former
University of Richmond B.A. in English Literature Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Hewlett-Packard Company Former
University of California, Berkeley Ph.D. in economics Former
University of Maryland M.B.A. with honors Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Wachovia Securities, LLC Director Former
Long Island University B.B.A. in Management Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Salomon Brothers Director Former
Salomon Brothers product manager Former
Banc of America Securities LLC Former
University of London Ph.D. Former
The University of Texas at Austin B.A. Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. associate analyst Current
Loyola College in Maryland B.B.A. in finance Former

Ned Armstrong, managing director and co-head of the diversified industrials research group, has an impressive 20+ years of experience in the securities and investment business. Throughout his career, Mr. Armstrong has analyzed, marketed, and sold investments in equities, high yield bonds, and distressed situations such as bankruptcies and reorganizations. As an analyst with Johnston Lemon & Co., he specialized in sell-side research, recommending equities and high yield bonds of companies in a variety of businesses. At Equity Group Holdings, Inc., a buyout boutique, he analyzed prospective investments and devised financing structures. Mr. Armstrong has provided coverage on various investment opportunities over the years, primarily on special situations, distressed securities, and capital goods industry. Mr. Armstrong is a member of the CFA Institute, as well as the D.C. Institute of CPAs (DCICPA). He received his M.B.A. from the University of Chicago and his B.S. in accounting from Miami University, and is a certified public accountant.

Organization Position Status
CFA Institute Member Current
Friedman, Billings, Ramsey Group, Inc. Current
Fbrdirect Co-Head Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Wachovia Securities, LLC Former
New York University M.B.A. in finance Former
City University of New York B.A. in economics Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Fbrdirect Current
Merrill Lynch & Co., Inc. Former
Cfa Former
ThinkEquity Partners Former
UCLA Anderson School of Management M.B.A. Former
University of Virginia B.A. in economics and foreign affairs Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Head of Capital Market Sales at Fbr Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Marion Consulting Current
CIMA Co., Ltd. Former
The University of Arizona MBA Former
The University of Arizona Undergraduate Degree Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
AEW Capital Management Co-Portfolio Manager Former
AEW Capital Management Director Former
Harvard University MBA Former
Wesleyan University B.A. In Economics Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Freddie Mac Head Trader Former
James Madison University BBA in Finance and Economics Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Banc of America Securities LLC Former
Deutsche Bank AG Former
Columbia Business School M.B.A. Former
Washington University B.S. in Business Administration Former

Organization Position Status
Fbrdirect Energy & Natural Resources, Senior Analyst, Senior Vice President Current
Friedman, Billings, Ramsey Group, Inc. senior analyst Current
Salomon Smith Barney, Inc. associate analyst Former
Fbrdirect Senior Analyst Former
Salomon Smith Barney Associate Analyst Former
Schlumberger Limited Former
Queen's University M.B.A. In Finance from the Former
Tulane University M.B.A. in finance Former
Tulane University A.B. Freeman School of Business Former
Queen's University B.Sc. In Mechanical Engineering Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. senior analyst Current
Salomon Brothers Former
The University of North Carolina M.B.A. Former
Colorado State University B.S. in finance Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
University of Maryland Bachelor of Science degree Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
CIMA Co., Ltd. Former
University of Washington Business Degree Former

Organization Position Status
Fbr Senior Member Current
Friedman, Billings, Ramsey Group, Inc. senior member Current
Corporate Communications Inc. Manager Former
The World Bank Consultant Former
Sanford C. Bernstein & Co., Inc. Former
Trinity College Masters Degree Former
The George Washington University B.A. Former

Mr. Meagher spent three years on active duty as an Army officer after which he returned to graduate school. Following the completion of his M.B.A., he spent eight years in the defense industry, both on the hardware side of the sector with what is formerly United Defense Industries and with services companies that have since been acquired by Northrop Grumman (NYSE: NOC) and IBM Corporation (NYSE: IBM). Mr. Meagher received his B.A. in history from UCLA, Los Angeles, California, and his M.B.A. from Southern Methodist University in Dallas, Texas. He did work toward his M.A. degree in national security studies at Georgetown University, in Washington, D.C.; completed the Department of Defense's program management course at Defense Systems Management College, in Ft. Belvoir, Virginia; and completed the foreign military sales course at the Defense Institute of Security Assistance Management, at Wright Patterson Air Force Base, in Dayton, Ohio.

Organization Position Status
Fbrdirect Diversified Industrials, Senior Analyst, Senior Vice President Current
Friedman, Billings, Ramsey Group, Inc. Current
Ferris, Baker, Watts Incorporated analyst Former
Fbrdirect Diversified Industrials, Senior Analyst, Senior V Former
Wright Patterson Air Force Base Former
Georgetown University M.A. degree in national security studies Former
Southern Methodist University M.B.A. Former
University of California, Los Angeles B.A. In History Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Current
Raymond James Financial, Inc. Former

After graduating from Franklin and Marshall College in the spring of 1987, Mr. Scott attended the Marine Corps Officer Candidate School in Quantico, Virginia and received his commission in December of 1987. Following completion of The Basic School and Field Artillery School, he reported to Camp Lejeune, North Carolina, where he was assigned to the 3rd Battalion, 10th Marines. Mr. Scott deployed to the Mediterranean with the 24th MEU on board the USS Portland. In December of 1990, he deployed to the Persian Gulf with the 2d Marine Division during the 1st Gulf War. In 1992, Mr. Scott left the U.S. Marine Corps as a Captain and returned to Washington, D.C. where he started his career in the financial services industry. Today he is a Managing Director with FBR, an Investment Banking and Asset Management firm based in Arlington, Virginia. Mr. Scott's group advises high net worth individuals and institutions on complex wealth preservation and growth strategies. In addition, he currently serves on the Board of Trustees of Landon School. Mr. Scott is a Trustee of the Marine Corps University Foundation where he serves as the Treasurer and Chairman of the Investment Subcommittee. He has served on the MCUF Board since March of 2006. He was born and raised in the Washington, D.C. area. He attended high school at Landon School in Bethesda, Maryland and received his undergraduate degree from Franklin and Marshall College in Lancaster, Pennsylvania, where he majored in history and played on the football team. Mr. Scott resides in Chevy Chase, Maryland, with his wife, Marcie and their three daughters, Maggie, Greta and Tory. He spends his free time working on his golf game, biking and fitness and watching his daughters participate in various activities.

Organization Position Status
Investment Banking Managing Director Current
Marine Corps University Foundation Managing Director, Friedman, Billings, Ramsey Current
Friedman, Billings, Ramsey Group, Inc. Current
Marine Corps University Foundation Board of Directors Current
Franklin & Marshall College Undergraduate Degree Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Co-Chairman Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current

Organization Position Status
Saxon Capital, Inc. Director, Urban Financial Current
American Financial Realty Trust Independent Trustee Current
Saxon Mortgage, Inc. Current
Friedman, Billings, Ramsey Group, Inc. Chairman Current
American Financial Realty Trust Vice Chairman Current
American Financial Realty Trust Board of Directors Current
Key Bridge Capital Board of Directors Current
FBR Capital Markets Corporation Board of Directors Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
Saxon Capital, Inc. Chairman Former
Republic New York Corporation Vice Chairman Former
Saxon Capital, Inc. Board of Directors Former

Mr. Alper currently serves as Chairman and Managing Member of EQA Partners, L.P., a commodity pool limited partnership engaged in a global macro strategy and currency trading. Mr. Alper served as President of New York City’s Economic Development Corporation and Chairman of New York City’s Industrial Development Agency from February 2002 to June 2006. Prior to joining New York City’s government in February 2002, Mr. Alper was a Partner and Managing Director of Goldman, Sachs & Co., or Goldman Sachs. In his 21 year career with Goldman Sachs, Mr. Alper served in various positions, including Co-Head of the Investment Banking Division’s Financial Institutions Group and Chief Operating Officer of the Investment Banking Division. Mr. Alper currently serves as Vice Chairman of the Board of Trustees of the University of Chicago and is a member of the Visiting Committee of the University of Chicago Graduate School of Business. Mr. Alper also is a trustee of Columbia Grammar and Preparatory School and the Mount Sinai Medical Center in Manhattan.

Organization Position Status
FBR Capital Markets Corporation Board of Directors Current
Mount Sinai Medical Center Board of Directors Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
Columbia Grammar and Preparatory School Board of Directors Current
Goldman, Sachs & Co. Managing Director Former
Goldman, Sachs & Co. Partner Former

Since his retirement from Goldman Sachs in 2001, Mr. Reimers has served as an independent financial and business consultant. From 1981 to 2001, Mr. Reimers served in various capacities at Goldman Sachs, including, among others, as a Partner and Managing Director of the Investment Banking Division, Co-Head and founder of the Investment Banking Division’s Healthcare Department from 1996 to 1998 and Co-Head of the Financial Advisory Group (London) from 1991 to 1996. Mr. Reimers also serves as Chairman of the Board of Directors of Rotech Healthcare, Inc. (Nasdaq: ROHI), a publicly-traded healthcare company, a position he has held since March 2002. Mr. Reimers serves as a member of Rotech’s audit, compensation and nominating and corporate governance committees. He also serves as a director of Bear Naked, Inc., a private food company. From 2003 to 2005, Mr. Reimers served as a director of NeighborCare, Inc. (Nasdaq: NCRX), a publicly-traded healthcare company that was acquired by Omnicare, Inc. in July 2005. Mr. Reimers is also a member of the management advisory board of New Mountain Capital, L.L.C., a private equity firm, and is a senior advisor to the New Mountain Vantage Fund, a public equity investment fund. Mr. Reimers serves on the board of trustees of the Boys & Girls Club of Greenwich and The Miami University Foundation Board, where he chairs the investment committee.

Organization Position Status
FBR Capital Markets Corporation Board of Directors Current
Rotech Company Ltd. Board of Directors Current
Key Bridge Capital Board of Directors Current
Boys & Girls Club of Greenwich Board of Directors Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
NeighborCare, Inc. Director Former

Organization Position Status
MediaBay, Inc. Board of Directors Current
Associated Asphalt Inc. Current
DiamondRock Hospitality Company Board of Directors Current
Mercury Air Group Inc. Board of Directors Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
World Airways, Inc. Board of Directors Current
World Air Holdings, Inc. Board of Directors Current
Thayer Capital Partners, L.P. Board of Directors Current
Gvi Security Solutions, Inc. Board of Directors Current
JER Investors Trust Inc. Board of Directors Current
Mesa Air Group, Inc. Board of Directors Current
The Hobart West Group Inc. Board of Directors Current
Thayer Capital Partners, L.P. advisory director Former
World Airways, Inc. Director Former
Loyola College in Maryland Master of Business Administration Former
Georgetown University Bachelor of Arts In English Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
FINRA Former
The Options Clearing Corp. Former
NASDAQ OMX Group, Inc. Former
National Securities Clearing Corporation Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current

Peter A. Gallagher has served as a Director of FBR Asset Investment Corporation (NYSE: FB) since August 2000. Mr. Gallagher has been President and CEO of America's Promise since 1997. As the first chief executive recruited by the organization's Founding Chairman, General Colin L. Powell, Mr. Gallagher developed the national nonprofit's structure, funding base, outreach, and programs to support the mission of mobilizing people from every sector of American life to build the character and competence of the nation's youth. Prior to joining America's Promise, Mr. Gallagher was a business executive and civic leader. From l994 through l996, Mr. Gallagher was Chief Executive Officer of Source One Financial Services, Inc. From l989 l993, he was senior vice president and co-founder of the AT&T Universal Credit Card. He developed and implemented the corporate practices of this start-up business, which resulted in the AT&T Universal Card Services organization winning the 1992 Malcolm Baldrige National Quality Award, and general recognition as one of the most successful start-ups in the history of financial services. Mr. Gallagher holds a bachelor of arts in economics from The George Washington University and has completed executive programs in management, marketing and finance at the Wharton School, the Harvard Business School and the Aspen Institute. Other business affiliations have included serving on the boards of private companies such as Retrieval Technologies, Inc., Medlantic Healthcare Corporation, the American Financial Services Association, and the U.S. Department of Commerce's Foreign and Commercial Service's Advisory Board. Mr. Gallagher's civic involvements have included the appointment by the federally created District of Columbia Financial Control Board to the Emergency Board of Trustees to oversee the District of Columbia Public School System; trustee for Capitol Hill Hospital, the United Way of Jacksonville, Fla., and Arena Stage. He serves as a board member of the Pew Partnership for Civic Change; VHA Health Foundation Inc., a national healthcare network; and the National Assembly of Health and Human Service Organizations.

Organization Position Status
The M & A Researcher Director of Fbr Asset Investment Corporation Current
Fbr Asset Investment Corporation Director & Chairman of The Community Outreach Committee Current
Fbr Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
Vha Health Foundation Inc Member Current
The Youth Chief Executive Officer Former
Education, Inc. Vice Chairman Former
The George Washington University Bachelor of Arts In Economics Former
Wharton Graduate School of the University of Pennsylvania Former

Mr. DeMartini is a Managing Director of Crestview Partners, a position he has held since 2006. Mr. DeMartini currently serves as the non-executive Chairman of Munder Capital Management, a registered investment advisor, which is a Crestview portfolio company. Mr. DeMartini retired as President of Bank of America’s Asset Management Group in December 2004. He was also a member of the Risk and Capital Committee and the Operating Committee at Bank of America. Prior to joining Bank of America in 2001, Mr. DeMartini served as Chairman and Chief Executive Officer of the International Private Client Group at Morgan Stanley Dean Witter. He also was a member of the Morgan Stanley Dean Witter Management Committee. Mr. DeMartini’s career at Morgan Stanley Dean Witter spanned more than 26 years and included roles as President of Individual Asset Management and President of Dean Witter & Company, Inc. and Chairman of Discover Card. He has been a member of the investment community since joining Dean Witter in 1975. He has served as Chairman of the Board of The Nasdaq Stock Market, Inc. and Vice Chairman of the Board of the National Association of Securities Dealers, Inc. Mr. DeMartini currently serves as a trustee of the Cancer Research Institute and of the Whitney Museum.

Organization Position Status
FBR Capital Markets Corporation Managing Director, Crestview Partners Current
Crestview Operating Partner Current
Bonita Bead Partner Current
Partners Capital Inc. Director Current
Bonita Bead Board of Directors Current
Cancer Research Institute Board of Directors Current
Crestview Partners, L.P. Director Current
FBR Capital Markets Corporation Board of Directors Current
Vermont Academy Board of Directors Current
Whitney Museum of American Art Board of Directors Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
Key Bridge Capital Board of Directors Current
NASDAQ OMX Group, Inc. Chairman of The Board Former
San Diego State University Former

Russell C. Lindner has served as a director of FBR since March 31, 2003. Previously he served as a Director of FBR Asset Investment Corporation from May 1999 until its merger with FBR. He is currently Chairman and Chief Executive Officer of the Forge Company, the parent company of Colonial Parking, Inc., and Bear Saint Properties, Inc., a real estate investment advisory firm. He has served as Chairman of the Forge Company since January 1, 1994. Mr. Lindner is a director and member of the executive committee of the Federal City Council, a director of the Greater Washington Board of Trade, and is Chairman of the Board of Trustees of the Landon School. He also serves on the advisory board of SunTrust Bank (Metro DC).

Organization Position Status
Forge Company Inc. Chief Executive Officer Current
The M & A Researcher Director of Fbr Asset Investment Corporation Current
Colonial Parking Inc. Chairman Current
Forge Company Inc. Chairman Current
SunTrust Bank Advisory Board Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
Fbr Asset Investment Corporation Director Current
The Salvation Army Board Member Current
Washington International School Board Member Current
National Rehabilitation Hospital Board Member Current
Fbr Former
The Salvation Army Member Former

Organization Position Status
Harris Interactive Inc. Partner Current
The M & A Researcher Director of Fbr Asset Investment Corporation Current
The M & A Researcher Board of Directors Current
Harris Interactive Inc. Director Current
Fbr Asset Investment Corporation Director Current
Carnegie Endowment for International Peace Board of Directors Current
MedStar Health Inc. Director Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
Carnegie Endowment for International Peace Member Current
Harris Interactive Inc. Independent Director Former
Fbr Former
KPMG International Vice Chairman Former
University of Missouri Former

THOMAS J. HYNES, JR. , age 68, is a member of our Board of Directors, a position he has held since January 2007. Mr. Hynes is Chairman and Chief Executive Officer of Colliers Meredith & Grew, a Boston-based real estate services firm. Mr. Hynes has been employed by Colliers Meredith & Grew and its predecessor companies since 1965, during which time he has held various offices. Mr. Hynes also serves as Chairman of the Board of Trustees of Emmanuel College, a director of the Massachusetts Business Roundtable, a non-profit, non-partisan, statewide public affairs organization that represents Massachusetts leading industry and business enterprises, where he served as Chairman from 2004 to 2006, and as a director of the John F. Kennedy Library Foundation. From October 1996 to January 2006, Mr. Hynes served as a director of Prentiss Properties Trust, a publicly-traded REIT that was acquired by Brandywine Realty Trust in January 2006.

Organization Position Status
Colliers Meredith & Grew Chief Executive Officer Current
Colliers Meredith & Grew Chairman Current
Emmanuel College Chairman Current
Key Bridge Capital Board of Directors Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
Massachusetts Business Roundtable Director Current

THOMAS S. MURPHY, JR. , age 48, is a member of our Board of Directors, a position he has held since the completion of our 2006 private offering in July 2006. Mr. Murphy is a Managing Director of Crestview Partners, a position he has held since 2004. Mr. Murphy retired from Goldman Sachs in 2003 where he was the Co-Founder and Head of the Financial Sponsors Group. Mr. Murphy was a Partner and Managing Director of Goldman Sachs. The Financial Sponsors Group was responsible for Goldman Sachs investment banking activities with private equity firms around the world. These activities included acquisitions, divestitures, initial public offerings, bank and high yield financings and principal investments. He serves on the boards of trustees of The Taft School, The Inner-City Scholarship Fund and The Madison Square Boys and Girls Clubs.

Organization Position Status
Inner-City Scholarship Fund Board of Directors Current
The Taft School Board of Directors Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current

Organization Position Status
Whitney Canada, Inc. Director Current
Whitney Information Network, Inc. Director Current
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current
Dechert Llp Partner Former
Dechert Llp Attorney Former
American University adjunct professor Former
Quanta Capital Holdings Ltd. member Former

Organization Position Status
Friedman, Billings, Ramsey Group, Inc. Board of Directors Current

Alex Rygiel is a senior vice president and senior analyst within the diversified industrials research group at FBR. Mr. Rygiel has been a member of the FBR research team since 1998. Previously, he was an equity research associate at Donaldson, Lufkin and Jenrette and Kidder, Peabody & Co. Currently, Mr. Rygiel follows the electrical products, engineering & construction, and specialty contracting markets. Mr. Rygiel has been recognized by Forbes.com as a No. 1 stock picker for electrical equipment and one of the best earnings estimators for the engineering & construction industry. Previously, Mr. Rygiel followed wireless services, environmental services, and business services. Mr. Rygiel holds a B.S. in financial management from Clemson University.

Organization Position Status
Fbrdirect Senior Vice President Current
Friedman, Billings, Ramsey Group, Inc. member Current
Fbrdirect Diversified Industrials, Managing Director Former
Kidder, Peabody & Co. Equity Research Associate Former
Fbrdirect Senior Analyst Former
Clemson University B.S. In Financial Management Former

Executive News

  • No longer living in a material world

    Reuters - 8/28/09 - View Story

  • U.S. credit card issuers pare lending limits

    Reuters - 8/28/09 - View Story

  • Lockheed Martin CEO tops highest paid list

    Washington Business Journal - 8/20/09 - View Story

  • Analyst Picks and Pans: TD Ameritrade, Cigna, Par Pharmaceutical

    BusinessWeek - 8/19/09 - View Story

  • BUY OR SELL-Capital One--bet on growth, or time to retreat?

    Forbes.com - 8/14/09 - View Story

  • BUY OR SELL-Capital One--bet on growth, or time to retreat?

    Reuters - 8/14/09 - View Story

  • FBR Fund Advisers, Inc. Retains David S. Rainey, Brian Macauley and Ira Rothberg as Co-Managers of FBR Focus Fund

    Financials.com - 8/14/09 - View Story

  • FBR Fund Advisers, Inc. Retains David S. Rainey, Brian Macauley and Ira Rothberg as Co-Managers...

    Forbes.com - 8/13/09 - View Story

  • FBR Fund Advisers, Inc. Retains David S. Rainey, Brian Macauley and Ira Rothberg...

    Reuters - 8/13/09 - View Story

  • FBR Fund Advisers, Inc. Retains David S. Rainey, Brian Macauley and Ira Rothberg as Co-Managers of FBR Focus Fund

    PR Newswire via Yahoo! - 8/13/09 - View Story

  • FBR Capital Markets Acquires Watch Hill Partners

    Oil and Gas Investor - 8/11/09 - View Story

  • Arlington Asset Investment Corp. Reports Second Quarter 2009 Financial Results

    Stockwatch - 8/10/09 - View Story

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     FBR $18.49 +0.06 (0.33% )
Average Volume 1,211,660
Shares Outstanding 95.66M
Market Cap 1.8B
Year High 18.78
Year Low 0.1
Earnings Per Share N/A
P/E Ratio -
Dividend N/A
Yield N/A
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