8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

 

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934



 

March 4, 2008

Date of Report (Date of earliest event reported)

FBR Capital Markets Corporation

(Exact Name of Registrant as Specified in its Charter)



 

Virginia

(State or Other Jurisdiction of Incorporation)

001- 33518 20 -5164223

(Commission File Number)                                                                    (IRS Employer Identification No.)

1001 Nineteenth Street North
Arlington, VA 22209

(Address of Principal Executive Office) (Zip Code)

 

(703) 312-9500

(Registrant's Telephone Number, Including Area Code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

On March 4, 2008, FBR Capital Markets Corporation (the "Company") issued a press release announcing the appointment of its new principal financial officer. Bradley J. Wright (age 47 years) will serve as the Company's Executive Vice President and Chief Financial Officer until his successor is duly appointed and qualifies. As of March 4, 2008, Kurt R. Harrington is no longer the Company's principal financial officer. A copy of the press release announcing Mr. Wright's appointment is attached hereto as Exhibit 99.1 and incorporated by reference in this Item 5.02 of Form 8-K.

Mr. Wright will participate in the Company's 2008 Incentive Compensation Program, which was previously described in the Company's Current Report on Form 8-K filed on February 26, 2008. The Company will pay Mr. Wright an annual base salary in 2008 in the amount of $250,000. The Company also awarded Mr. Wright 25,000 shares of restricted common stock which are subject to forfeiture restrictions that lapse ratably over a three-year period beginning on the third anniversary of the date of grant, subject to his continuous employment during such period.

Item 9.01 Financial Statements and Exhibits.

Exhibit.
99.1	FBR Capital Markets Corporation Press Release dated March 4, 2008.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

	FBR Capital Markets Corporation
Date: March 6, 2008		/s/ Eric F. Billings Eric F. Billings Chairman and Chief Executive Officer

EX-99.1

Contacts:

Media: Lauren Burk at 703.469.1004 or lburk@fbr.com
Investors: Paul Beattie at 703.312.9673 or pbeattie@fbr.com

FBR Capital Markets Hires Chief Financial Officer

ARLINGTON, VA, March 4, 2008 – FBR Capital Markets Corporation (NASDAQ: FBCM) (FBR Capital Markets) today announced that it has appointed Bradley Wright as Executive Vice President and Chief Financial Officer. Mr. Wright will also become a member of the firm’s Executive Committee.

With more than 25 years of experience in financial services, Mr. Wright joins FBR Capital Markets from Bear Stearns where he most recently served as Senior Managing Director and was in charge of finance for Private Client Services. Prior to joining Bear Stearns in 1996, he spent 14 years at Price Waterhouse in its Capital Markets & Treasury division. Mr. Wright is a Certified Public Accountant and a CFA charter holder.
 
“Brad’s extensive knowledge and experience in the financial services industry will be invaluable as we continue to maximize the strength of our balance sheet and execute our strategic plan,” said Eric F. Billings, Chairman and CEO of FBR Capital Markets.
 
Kurt Harrington will continue to serve as Executive Vice President and Chief Financial Officer of FBR Group, the majority owner of FBR Capital Markets.
 

FBR Capital Markets Corporation (FBR Capital Markets), a majority-owned subsidiary of Friedman, Billings, Ramsey Group, Inc., provides investment banking*, merger and acquisition advisory services*, institutional brokerage*, research*, asset management and private wealth services.  FBR Capital Markets focuses capital and financial expertise on eight industry sectors: consumer, diversified industrials, energy & natural resources, financial institutions, healthcare, 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; New York; San Francisco; London, England; and Sydney, Australia.  For more information, please visit www.fbrcapitalmarkets.com .
 
*Friedman, Billings, Ramsey & Co., Inc.

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