FBR & Co. (Nasdaq:FBRC, formerly known as ''Friedman, Billings, Ramsey Group'') was a capital markets firm headquartered in

Arlington, Virginia Arlington County is a county in the Commonwealth of Virginia. The county is situated in Northern Virginia on the southwestern bank of the Potomac River directly across from the District of Columbia, of which it was once a part. The county ...

. Founded in 1989 by Emanuel J. Friedman, Eric F. Billings, and W. Russell Ramsey, the company provided investment banking, merger and acquisition advisory, institutional

brokerage A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be con ...

, and research services through its subsidiaries FBR Capital Markets & Co. and MLV & Co. FBR focused capital and financial expertise on the following industry sectors: consumer; energy & natural resources; financial institutions; healthcare; insurance; industrials; real estate; and technology, media & telecom. FBR was based in the

Washington, D.C. metropolitan area The Washington metropolitan area, also commonly referred to as the National Capital Region, is the metropolitan area centered on Washington, D.C. The metropolitan area includes all of Washington, D.C. and parts of the states of Maryland, Virgi ...

with offices throughout the United States. In 2017 the company was sold to B. Riley Financial for $160.1 million.

Alums

In April 2017, Patrick Steel of FBR took over as CEO of ''

Politico ''Politico'' (stylized in all caps), known originally as ''The Politico'', is an American, German-owned political journalism newspaper company based in Arlington County, Virginia, that covers politics and policy in the United States and intern ...

'' from the owner

Robert Allbritton Robert Allbritton (born February 16, 1969) is the owner and founder of Capitol News Company, the parent company of Capitol Hill political newspaper and website ''Politico''. Allbritton also served as the chairman and CEO of Allbritton Communicat ...

. Steel, age 49 at the time of the appointment, had served in President

Bill Clinton William Jefferson Clinton ( né Blythe III; born August 19, 1946) is an American politician who served as the 42nd president of the United States from 1993 to 2001. He previously served as governor of Arkansas from 1979 to 1981 and agai ...

's administration and contributed money to former Secretary of State

Hillary Clinton Hillary Diane Rodham Clinton ( Rodham; born October 26, 1947) is an American politician, diplomat, and former lawyer who served as the 67th United States Secretary of State for President Barack Obama from 2009 to 2013, as a United States sen ...

and other Democrats. He had been at FBR since 2001 working in

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

s and

private placements Private placement (or non-public offering) is a funding round of securities which are sold not through a public offering, but rather through a private offering, mostly to a small number of chosen investors. Generally, these investors include friend ...

.Alpert, Lukas I.
"Politico Names Investment Banker as New CEO" (subscription)
''

The Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'', April 25, 2017. Retrieved 2017-04-27.

References

{{DEFAULTSORT:FBR Banks based in Virginia American companies established in 1989 Financial services companies established in 1989 Investment banks in the United States Companies based in Arlington County, Virginia Companies formerly listed on the Nasdaq 1989 establishments in Washington, D.C.