FBR names David Kennedy as senior vice president of convertibles

By Devika Patel

Knoxville, Tenn., March 12 - FBR Capital Markets Corp. announced in a press release that it has hired David Kennedy as senior vice president within convertible securities sales & trading.

He will be based in the firm's New York office.

Kennedy joins FBR from Citigroup, where he has worked on Citigroup's convertible bond desk since 1993, most recently as a director. He is an expert in flow trading.

Kennedy has a bachelor's degree in international business from Lehigh University.

He will join a small- and mid-cap convertible securities platform, which was founded by senior professionals from the former Bear Stearns' convertible securities unit. The team originates, structures and trades equity-linked securities, including both convertibles and equity derivatives.

"David is a seasoned professional, widely respected in the market and has been through many market cycles in the convertible product," senior managing director and head of convertible securities Michael Lloyd said in the release.

"He will further deepen our convertible securities platform and help us develop the extremely successful foundation we have built at FBR Capital Markets, which has been widely embraced by our client base."

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

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