Mr Penney joined FBR Capital Markets in 2004 as managing director, consumer research and was instrumental in establishing its consumer research group. He later founded the consumer investment banking group. Prior to rejoining the firm, he was senior vice president of equity research at Prudential Equity Group. He was also a small-cap strategist for part of his 13-year tenure at Morgan Stanley.
David Khani, director of research at FBR Capital Markets, stated: Howard has more than 20 years of industry experience and a legacy as a leading consumer analyst. His expertise is an excellent compliment to the capabilities of our research platform and enhances its value for institutional clients.
