Friedman, Billings, Ramsey Group, a real estate investment trust headquartered in Arlington, Va., is changing its name to Arlington Asset Investment Corp.
It will begin doing business under its new name immediately but needs to get approval from shareholders to amend its charter to reflect the name change at its next annual shareholders meeting in June 2009.
"We believe this is a logical step for the organization," said Eric Billings, chairman and chief executive. "The new name more clearly distinguishes the company from FBR Capital Markets."
FBR Capital Markets is an investment banking firm that was spun out of FBR Group in 2007 and is separately traded. Arlington Asset has notified the New York Stock Exchange of the name change and has requested a new ticker symbol, which it expects to trade under within the next 60 days.