FBR Capital Markets Corporation Appointments

FBR Capital Markets Corporation (NASDAQ:FBCM) (FBR Capital Markets), a leading investment bank serving the middle market, announced today that its new Convertible Securities unit has commenced trading convertible and equity-linked securities. The firm also announced the addition of Robert Meringolo and Thomas Sugiura as Managing Directors, Adam Wachter and John Wright as Senior Vice Presidents, and Charles Ng and Ronald K. Schulhof as Vice Presidents on the Convertible Securities Sales & Trading team. They will report to Michael Lloyd, Senior Managing Director and Head of Convertible Securities in Sales & Trading, who co-heads the unit with Paul S. Rosica, Senior Managing Director and Head of Equity- Linked Securities in Investment Banking.

"Today we officially launched our Convertible Securities platform and have begun trading equity-linked securities," said Richard J. Hendrix, President and Chief Operating Officer of FBR Capital Markets. "The addition of the Convertible Securities unit to our equity capital markets franchise is an important step in the evolution and growth of FBR Capital Markets. This new business will provide clients access to additional capital options and will complement our existing business lines."

Mr. Sugiura also joins FBR Capital Markets from Bear Stearns where he, too, served as a Senior Managing Director on its Convertible Securities trading team. During his time at Bear Stearns, Mr. Sugiura made markets in a variety of convertible instruments and managed a structured convertible book which included client-facing synthetic convertible issuance. He holds a Bachelor of Arts from Harvard University in English and American literature and language and received an MBA from the Yale School of Management.
Mr. Wachter joins the FBR Capital Markets Convertible Securities unit most recently from Morgan Stanley, where he spent seven years in various senior trading positions in both customer- facing and principal businesses. Prior to Morgan Stanley, he was a convertible trader at Kennilworth Partners, an equity-linked hedge fund. Mr. Wachter received a Bachelor of Arts in finance from The George Washington University and an MBA from the Fordham University Graduate School of Business Administration.