FBR Capital Markets appoints new distribution head

FWR Staff

4 September 2007

Ex-president of Active Investment Advisors to lead firm's wholesale drive. Investment bank FBR Capital Markets has hired Russell Parker, formerly president of Natixis affiliate Active Investment Advisors , as head of marketing and distribution for its mutual funds, alternative-investment vehicles and other investment products. FBRCM says the Parker's appointment is bound up with the firm's plan to expand its asset-management business through additional distribution channels.

"Russell's marketing expertise, in-depth knowledge of the industry, and track record in developing long-lasting relationships with the investing community will help us achieve the aggressive growth objectives we have set for our asset-management platform as a whole," says Ned Wheeler president and COO of FBRCM's asset-management unit.

New Markets

In addition to serving as president of Oakland, Calif.-based indexed-investment manager AIA, Parker was also in charge of its distribution efforts. Natixis -- then known as CDC IXIS -- acquired AIA in 2004.

Parker left AIA in February 2006. Curt Overway is named as AIA's president on its website. Overway is also president of Natixis' overlay-management affiliate Managed Portfolio Advisors.

Parker has also worked at Janus Capital and Nuveen Investments.

FBRCM's president and COO Rick Hendrix says that Parker's "broad experience in opening new markets, positioning financial products and creating successful distribution channels will be of critical importance during this stage of development."

FBR Capital Markets is a subsidiary of Arlington, Va.-based Friedman Billings Ramsey. It managed around 400 million, mainly for high-net-worth individuals, at the time of its last ADV filing with the SEC. -FWR

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