Friedman Billings Ramsey

About 1 pages (319 words)

Questions on this topic? Just ask!

Friedman, Billings, Ramsey Group Inc.
Type	Public (NYSE: FBR)
Founded	1989
Headquarters	Arlington, Virginia
Key people	Eric Billings, Chairman & CEO
Industry	Investment services
Products	Investment Banking
Revenue	US $1.01 Billion (2006)
Net income	US $-0.67 Billion (2006)
Employees	726 (2006)
Slogan	Enjoy Your Good Fortune
Website	www.fbr.com

FBR Group

Friedman, Billings, Ramsey Group Inc., or simply FBR, (NYSE:FBR), is a full service investment bank headquartered in Arlington, Virginia that sponsors the FBR Open PGA golf tournament held in Phoenix, Arizona. It was founded in 1989 and had over $1 billion in revenues in 2006. It also has offices in Boston, Dallas, Denver, Houston, Irvine, London, New York City, Phoenix, San Francisco, and Sydney. FBR is unique in that its common stock is structured as a REIT (Real Estate Investment Trust). The company recently announced severe losses related to its under-performing mortgage platform and widespread problems in subprime mortgage lending which lead to a sale of ownership in FBR's subprime subsidiary First NLC Financial Services, Inc in the summer of 2007. FBR spun off its Capital Markets division through an IPO named FBR Capital Markets Corp. (Ticker: FBCM) which was priced at priced at $17 per share.

FBR Capital Markets

FBR Capital Markets Corporation, (NASDAQ:FBCM) was created through an equity spin-off from FBR Group in the spring of 2007. FBR Capital Markets operates offers its products and services in the United States and internationally. The company is headquartered in Arlington, Virginia. Industry Sector Groups