Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Cost-Cutting Continues at a Fund Firm's Parent Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, November 08, 2010

Cost-Cutting Continues at a Fund Firm's Parent

News summary by MFWire's editors

A mutual fund company's parent is in the news this morning for its continued cost-cutting efforts. The Washington Post reports that FBR Capital Markets, whose subsidiaries include FBR Asset Management, has been "vacating more floors of its Arlington headquarters, subleasing the space as it continues to reduce its workforce in an effort to reposition itself."

During the first three quarters of 2010, FBR Capital cut 95 jobs and subleased 6,000 square feet of space at Potomac Tower. The firm is planning to sublease more space, according to the report, citing FBR's leasing agent, UGL Equis.

The impact of the cuts on FBR Capital Markets' asset management arm isn't clear. The report did not state which parts of FBR have been affected by the cuts.

The Post traced FBR Capital Markets' woes to losses in subprime mortgage investments. The article also noted that despite the troubles, FBR Capital Markets has been interested in acquisitions. Earlier this year, it completed the purchase of AFBA 5Star Funds. 

Edited by: Armie Margaret Lee


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use