2/24/09

Hey, I was wondering if anyone takes FBR seriously. They were once considered a pretty good boutique I think, as they handled smaller deals (especially during tech boom and other stuff in D.C. area) They were trading at 0.21 cents as of closing price today, although the group they spun off, FBCM (for FBR Capital Markets), was trading at $3.03. I was just wondering if people still consider it a reputable firm, or if it has lost a lot of its respect and prestige. Any insight would be helpful. Are its executive board considered competent and well respected, or has it become a joke and laughingstock. Thanks again in advance for shedding any light on this.

Comments (39)

2/24/09

As the firm's founders have peeled off the start their own operations, the reputation has diminished and culture has grown less professional. I've spoken with former FBR folks who have fond memories of the firm, but more recent employees are less positive.

FBR has a reputation for being especially nepotistic, aptly nicknamed Friends, Brothers and Relatives. A current analyst describes the work environment as a southern frat house, because this is where they source all of the recruits. As such, a person's capability is often overlooked.

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2/25/09

They are also changing their name... what's up with that? It seems so odd to change a name, although perhaps they are trying to go in a new direction.

Jack: They're all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard.
-30 Rock

2/25/09

FBR...had an interview with them. complete idiots and utterly unprofessional. 1/2 the interviewers got slashed. ha

Best,
SoulSearching

Best,
SoulSearching

11/30/11

BUMP. I realize this post is two years old but I need some answers regarding the same questions. Anyone? Please

1/17/13

DreamMonkey:
BUMP. I realize this post is two years old but I need some answers regarding the same questions. Anyone? Please

I'm in the same boat. Please bump.

1/23/13

DreamMonkey:
BUMP. I realize this post is two years old but I need some answers regarding the same questions. Anyone? Please

Did you go through interviews there? How was it?

12/1/11

bump. . .

1/23/13

bump

1/23/13

bump

12/2/11

bumpity bump bump

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1/23/13

FBR was hit very hard by the recession. It used to be one of the best FIG groups in the MM space, but it has definitely fallen below other names (e.g. SO, KBW/Stifel). It shed a ton of jobs and talent and lost some key people in the manufacturing and industrials group and aerospace/defense.

Read up on 144a. http://en.wikipedia.org/wiki/SEC_Rule_144A.

Exit opps are probably another bank, possibly corp dev or MM PE. Do you know what coverage group you will be joining?

1/23/13

Surprised they're not defunct yet... as the above guy said used to be a very solid FIG MM IB and pretty good in Real Estate too - nowadays they do nothing except for several private placements and IPOs & FOs here and there

Float like a butterfly, sting like the bee.

1/17/13

I would stay away unless it is your only option. I spoke to an MD there when I was looking for jobs as a sophomore and he basically said "you don't want to come to a place like this- go apply to GS, JP, MS (easier said than done" and contact me if you can't find anything else. I think that speaks to the morale and how they see themselves. Not an environment I would want to be in myself.

1/23/13

Went through the FT interview process with FBR Capital Markets. 100% fit and competency - really know why you want to be in banking, and be prepared to demonstrate that through past experience. The people I spoke to said they're looking for those who are extremely motivated and who display a thirst for knowledge, beyond that of your typical Fin/Acct courseload.

1/23/13

Thanks alot for the info. Do you have any information of what the comp structure is like? Im assuming since they are based in DC it is probably below street. Also any other banks in the DC area?

1/23/13

Also looking for info on this. Has anyone been through their recruiting recently?

1/23/13

They gave me quite the run around. Had a first round in office, didnt hear back from them for 6 weeks, invited me back for final round with MD's, another 5 weeks later they give me a "sorry but blah blah blah".
They dont know what theyre looking for. (was for S&T)

1/23/13

FBR is a pretty bad I Bank. Not known for anything much, except for doing really small, unimportant deals. Definitely not worth your time.

1/23/13

They actually have lead-managed a lot of REIT IPOs, but those have typically been some less-than-stellar names. The bank's top brass has had some legal issues lately, as well.

No clue about their other groups.

1/23/13

thanks

1/23/13

Don't waste your time.

1/23/13

Sounds ugly. Any current staff able to comment on culture, comp, bonus, exits, etc.?

What's the interview process like? Lots of technicals or more fit?

1/23/13

Don't know much about the Energy group, but FBR M&A is really struggling. Industrials and consumer coverage groups may be history by now. If not, they aren't lasting another year (all of the top talent left). FIG is what FBR is known for and that has gone down the tubes as well.

1/23/13

The market thinks differently (re FBR struggling). Stock's up 80%+ YoY FBRC. I think they're still far from where they were 5 years ago though and recently sold their previously solid AM/fund arm.

1/23/13

seantsghost:

The market thinks differently (re FBR struggling). Stock's up 80%+ YoY FBRC. I think they're still far from where they were 5 years ago though and recently sold their previously solid AM/fund arm.

Capital Markets is holding up the company. M&A is a joke though. Look at the size of the deals they've been doing recently. Several sub-$20mm.

I revised my post.

1/23/13

seantsghost:

The market thinks differently (re FBR struggling). Stock's up 80%+ YoY FBRC. I think they're still far from where they were 5 years ago though and recently sold their previously solid AM/fund arm.

Have you been sleeping under a rock? The market has no idea what's going on, were're at record highs. SMH.

'Before you enter... be willing to pay the price'

1/23/13

Talked to someone who worked there last year (bounced to another bank since) and told me it's a sinking ship and to steer clear...

1/23/13

clammers1234:

Talked to someone who worked there last year (bounced to another bank since) and told me it's a sinking ship and to steer clear...

Yea, I knew two associates (one pre one post-MBA) and VP and both are long gone. It's become a sweat shop b/c they just kept cutting staff or eliminating open positions.

And for what? A $12mm M&A transaction?

1/23/13

@ Bep. You're an idiot. I'm not saying the market isn't overvalued, but "record highs" or any index value is trivial and has nothing to do with relative valuations of stocks. Except for shitheads like you, clearly.

To my original point, I don't cover the stock, own the stock, nor have I even peeped the 10-k. No horse in the race here. I was just trying to play devil's advocate and pointing out that somebody (~60% institutional ownership of FBRC) sees some value in the firm.

Peinvestor has since provided a little bit more helpful insight on some specific aspects of the company.

1/23/13

seantsghost:

@ Bep. You're an idiot. I'm not saying the market isn't overvalued, but "record highs" or any index value is trivial and has nothing to do with relative valuations of stocks. Except for shitheads like you, clearly.

To my original point, I don't cover the stock, own the stock, nor have I even peeped the 10-k. No horse in the race here. I was just trying to play devil's advocate and pointing out that somebody (~60% institutional ownership of FBRC) sees some value in the firm.

Peinvestor has since provided a little bit more helpful insight on some specific aspects of the company.

Not trying to defend Bep here, but I think where he was going is if the market has experienced a big run up as a whole, maybe FBR's 80% improvement YOY isn't as much of an anomaly as one may generally think.

1/23/13

You're right, and either way I shouldn't have called him a shithead- Sorry Bep, there was no need for me to be a dick.

For what it's worth though- Powershares small cap financials (PSCF) +15% YoY - not a perfect benchmark but hey.

1/23/13

seantsghost:

You're right, and either way I shouldn't have called him a shithead- Sorry Bep, there was no need for me to be a dick.

For what it's worth though- Powershares small cap financials (PSCF) +15% YoY - not a perfect benchmark but hey.

We all get a little excited sometimes...

'Before you enter... be willing to pay the price'

1/23/13

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1/23/13