FBR Capital begins trading convertible securities, names six hires

By Susanna Moon

Chicago, Sept. 3 - FBR Capital Markets Corp. said it has begun trading convertible and equity-linked securities and announced the addition of six members to the team.

Joining the group are 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, according to a press release.

They will report to Michael Lloyd, senior managing director and head of convertible securities, who co-heads the unit with Paul S. Rosica, senior managing director and head of equity-linked securities in investment banking.

Meringolo brings 15 years of experience and long-term institutional relationships. He was most recently a senior managing director on Bear Stearns' convertible securities sales team. He earned a Bachelor of Business Administration from Baruch College and an MBA from the New York University Leonard N. Stern School of Business.

Sugiura also joins FBR Capital from Bear Stearns where he also was as a senior managing director on its convertible securities trading team. He holds a Bachelor of Arts from Harvard University and an MBA from the Yale School of Management.

Wachter joins the unit from Morgan Stanley, where he spent seven years in various senior trading positions. Before Morgan Stanley, he was a convertible trader at Kennilworth Partners, an equity-linked hedge fund. He received a Bachelor of Arts from George Washington University and an MBA from the Fordham University Graduate School of Business Administration.

Wright joins the firm 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. Wright earned a Bachelor of Business Administration from Pace University and an MBA from the Fordham University Graduate School of Business Administration.

Ng was formerly a senior vice president at KBC Financial Products where he worked for the past six years in convertible sales.

Schulhof was most recently an associate director and convertible product specialist at Bear Stearns.

FBR Capital is a full-service investment banking, institutional brokerage and asset management firm based in Arlington, Va.

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