Friedman, Billings, Ramsey Group, Inc. (FBR) is a national investment bank that provides investment banking, institutional brokerage, asset management and private client services through its operating subsidiaries and invests in mortgage-backed securities and merchant banking opportunities. FBR focuses capital and financial expertise on six industry sectors: financial services, real estate, technology, healthcare, energy and diversified industries. FBR, headquartered in the Washington, D.C. metropolitan area, with offices in Arlington, Virginia, and Bethesda, Maryland, also has offices in Atlanta, Boston, Charlotte, Chicago, Cleveland, Denver, Irvine, London, New York, Portland, San Francisco, Seattle and Vienna.