ARLINGTON, Va., Sept. 3 /PRNewswire-FirstCall/ -- FBR Capital Markets Corporation (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. Meringolo brings fifteen years of experience and long-term institutional relationships to the group, having most recently served as a Senior Managing Director on Bear Stearns' Convertible Securities sales team. He earned a Bachelor of Business Administration in finance and English from Baruch College and an MBA from the New York University Leonard N. Stern School of Business.
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.
Mr. Wright joins FBR Capital Markets from Bear Stearns as well, where he held a variety of positions involving equity-linked securities and was most recently a Managing Director on its Convertible Securities sales team. Mr. Wright earned a Bachelor of Business Administration in finance from Pace University and an MBA from the Fordham University Graduate School of Business Administration.
Messrs. Ng and Schulhof join the Convertible Securities team as Vice Presidents. Mr. Ng was formerly a Senior Vice President at KBC Financial Products where he worked for the past six years in convertible sales. Mr. Schulhof was most recently an Associate Director and Convertible Product Specialist at Bear Stearns.
"We're pleased to be joined by such seasoned colleagues," offered Michael Lloyd, Senior Managing Director and Head of Convertible Securities at FBR Capital Markets. "Their experience, expertise and institutional relationships will be invaluable as we launch our platform at FBR Capital Markets."
FBR Capital Markets Corporation , a majority-owned subsidiary of Friedman, Billings, Ramsey Group, Inc., provides investment banking*, merger and acquisition advisory services*, institutional brokerage*, research*, and asset management and private wealth services. FBR Capital Markets focuses capital and financial expertise on seven industry sectors: consumer, diversified industrials, energy & natural resources, financial institutions, insurance, real estate, and technology, media & telecom. FBR Capital Markets is headquartered in the Washington, D.C. metropolitan area with offices in Arlington, VA; Boston; Dallas; Houston; Irvine; London, England; New York; San Francisco; and Sydney, Australia. For more information, please visit http://www.fbrcapitalmarkets.com/.
*Friedman, Billings, Ramsey & Co., Inc.
