Feature News

A Host of Wall Street Veterans Join the Firm to Introduce Corporate Bond and Bank Loan Trading Capability

ARLINGTON, Va., May 13 /PRNewswire-FirstCall/ -- FBR Capital Markets Corporation (Nasdaq: FBCM) (FBR Capital Markets), a leading investment bank serving the middle market, today announced the expansion of its Institutional Brokerage business through the launch of its new Credit Sales & Trading platform. Joining the group is a team of notable Wall Street veterans who will debut the firm's corporate bond and bank loan trading capability focusing on crossover, high-yield and distressed debt instruments. Members joining FBR Capital Markets' Credit Sales & Trading group include:

• Vikram Natarajan, Managing Director and Head of Distressed Trading in New York
• Todd Dahlstrom, Managing Director, Credit Sales in Boston
• Paul Deen, Managing Director, Credit Sales in New York
• Jay Coyle, Senior Vice President, Credit Sales in New York
• Michael Cunningham, Senior Vice President, Credit Sales in Boston
• Eric Vander Mel, Senior Vice President and Desk Analyst, Credit Sales & Trading in Boston

This team of talented and well-respected Wall Street professionals will report to Michael Lloyd, Senior Managing Director, who has been appointed to the new position of Head of Credit, Options & Convertible Securities in Sales & Trading at FBR Capital Markets and will lead the group from the firm's New York office.

"The addition of the Credit Sales & Trading unit is an important step in the evolution and growth of our capital markets franchise," said Richard J. Hendrix, President and Chief Executive Officer of FBR Capital Markets. "The business is highly complementary to our existing equity and convertible security offerings, and the expanded product suite will generate immediate additional value for clients by enabling us to provide corporate finance solutions and execution capabilities across the capital stack from equity to debt."

Vik Natarajan joins FBR Capital Markets as Managing Director and Head of Distressed Trading and most recently headed the Distressed Trading team at UBS. Mr. Natarajan brings with him extraordinary client relationships and an expert knowledge of loan and bond trading stemming from a twelve-year career at Credit Suisse on both the buy and sell-side. He holds an MBA from Columbia Business School and received a Bachelor of Arts from Johns Hopkins University.

Todd Dahlstrom adds nearly twenty years of experience to the Credit Sales group and joins the team as Managing Director. He most recently served as an Executive Director at Morgan Stanley and helped launch the firm's Fixed Income Distribution office in Boston. Earlier in his career, he spent twelve years at Fleet Securities, rising to Managing Director and leading the BankBoston and FleetBoston Loan Trading groups for seven years. Mr. Dahlstrom earned a Bachelor of Arts in accounting from the University of Massachusetts Amherst and received an MBA from the Johnson School at Cornell University.

Paul Deen joins FBR Capital Markets as a Managing Director in Credit Sales in New York and was previously an Executive Director within Distressed Sales at UBS. Prior to UBS, he was a Managing Director on the high-yield and distressed desks at both Bear Stearns and Goldman Sachs. A Wall Street veteran, he has spent 17 years in the distressed and restructuring business serving in a variety of roles. Mr. Deen received a Bachelor of Commerce in finance and international management from the University of Ottawa and holds an MBA from Columbia Business School.

Jay Coyle joins the firm in Credit Sales as Senior Vice President and was most recently a Vice President on the Distressed Credit Sales team at Banc of America Securities (formerly Merrill Lynch). Prior to that, Mr. Coyle was a member of the High Yield & Distressed Bond Sales team at Miller Tabak Roberts Securities in New York. He holds a Bachelor of Arts from Harvard University as well as a Juris Doctor from Fordham Law School.

Michael Cunningham joins FBR Capital Markets as Senior Vice President in Credit Sales. Also from Morgan Stanley, he was a member of the firm's High Yield Loan Sales group. Prior to Morgan Stanley, he spent parts of his sixteen-year career at Fleet Securities, BankBoston Securities and Fleet National Bank. Mr. Cunningham is a graduate of the State University of New York Geneseo where he received a Bachelor of Science in finance.

Eric Vander Mel will join FBR Capital Markets from Morgan Stanley in June. A twenty-year veteran of the financial services industry, he most recently served as Executive Director in Morgan Stanley's Special Situations group where he was responsible for research coverage on the firm's par loan trading desk. At FBR Capital Markets, he will also serve as Desk Analyst and will be a Senior Vice President within the Credit Sales & Trading group. Prior to Morgan Stanley, Mr. Vander Mel was a Director within Fleet Securities' Loan Trading group. He holds a Bachelor of Arts in economics from Colby College.

"We're delighted to be able to assemble such an accomplished team to launch our Credit Sales & Trading platform," said Michael Lloyd. "We intend to fully capitalize on the current market dislocation by investing in immediately accretive opportunities to grow our product suite. This team will reinforce our core strategic strengths in the small- to mid-cap space, up and down the capital structure, from our strong equities franchise, through hybrids and preferred, through convertibles, and up to senior unsecured bonds and bank debt."

FBR Capital Markets Corporation (Nasdaq: FBCM) provides investment banking, merger and acquisition advisory, institutional brokerage and research services through its subsidiary FBR Capital Markets & Co. Bank loan trading services are conducted through FBR Capital Markets LT, Inc. 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. Asset management services are provided by FBR Investment Management, Inc., and mutual funds are provided by FBR Fund Advisers, Inc.; both companies are subsidiaries of FBR Capital Markets Corporation. FBR Capital Markets is headquartered in the Washington, D.C. metropolitan area with offices throughout the United States and in London. For more information, please visit www.fbrcapitalmarkets.com.