Earlier this month, at the firm’s ninth annual investor conference, Friedman, Billings, Ramsey Group Inc. Chief Operating Officer Robert Smith spoke with Mergers & Acquisitions Report about FBR Group’s recently announced $754 million planned takeout of FBR Asset Investment Corp., a REIT invested in mortgage-backed securities. At the two-day conference, held for the first time in New York, Smith said the M&A move by Arlington, Va.-based FBR Group, a financial services company, will enable it to couple its volatile revenues with FBR Asset’s “steady, predictable earnings stream.” FBR Group operates four business platforms-institutional sales, investment banking, asset management and private client relationships.
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