Board of Directors

Arlington Asset's Board of Directors are:

  • Eric F. Billings

    Eric F. Billings is our Executive Chairman. He co-founded the company in 1989, and established the company’s principal investing unit as FBR Asset Investment Corp. in 1997.

    Mr. Billings served as Chairman of FBR & Co. (currently known as B. Riley FBR, Inc.), a publicly-traded investment banking, institutional brokerage and asset management firm, a position he held since its formation in 2006 until his retirement in 2012. From 2006 to 2008, Mr. Billings also served as the Chief Executive Officer of FBR & Co. In addition, he concurrently holds the position of Senior Managing Partner and Co-Portfolio Manager of Billings Capital Management, LLC, an investment management company he runs with his sons.

    Mr. Billings began his 30 year investment career at Legg Mason, Inc. as an investment analyst and salesperson in the Institutional Brokerage division. In 1983 he joined Johnston Lemon Corp. where he built and managed their Washington, DC institutional brokerage group until 1989. He was born in Boston, MA and is a graduate of the University of Maryland with a B.A. in Economics and Finance.

    Mr. Billings serves on the Board of Visitors and the Center for Financial Policy Advisory Board at the University of Maryland’s Robert H Smith School of Business. He also sits on the Leadership Council of the Board of Boys & Girls Clubs of Greater Washington.

  • J. Rock Tonkel, Jr.

    J. Rock Tonkel, Jr. is our President and Chief Executive Officer.  He has also served as a member of the board of directors since 2007.

    Prior to his current position, he was our President and Chief Operation Officer, a position he held since 2007.  Prior to 2007, he was President and Head of Investment Banking at FBR & Co. (currently known as B. Riley FBR, Inc.) ("FBR"). Mr. Tonkel joined FBR in 1994 as Head of Investment Banking’s Financial Institutions Group.

    Prior to joining FBR, Mr. Tonkel served as Special Assistant to the Director of the Office of Thrift Supervision, the regulatory agency for the savings and loan industry. At the Office of Thrift Supervision, Mr. Tonkel oversaw the restructuring of many of the nation’s largest troubled thrifts and savings banks.

    Mr. Tonkel received his Bachelor of Arts degree in economics from Amherst College.

  • Daniel J. Altobello

    Daniel J. Altobello has served as a director of our company since June 2000.

    Mr. Altobello has been Chairman of Altobello Family LP since 1991. Mr. Altobello also served as chairman of the board of directors of Onex Food Services, Inc., the parent corporation of Caterair International, Inc. and LSG/SKY Chefs from 1995 through 2000. From 1989 through 1995, Mr. Altobello was the Chairman, Chief Executive Officer and President of Caterair International Corporation. He is a current member of the boards of directors of DiamondRock Hospitality Company, a publicly-traded hotel real estate investment trust (“REIT”), NorthStar Healthcare Income, Inc., a public non-traded REIT, NorthStar Real Estate Capital Income Master Fund, an unlisted closed-end fund, and Mesa Air Group, Inc. 

  • Daniel E. Berce

    Daniel E. Berce is our Lead Independent Director and has served as a director of our company since January 2011.

    Mr. Berce is Chief Executive Officer and President of General Motors Financial Company, Inc. (formerly AmeriCredit Corp.), a position he has held since General Motors Co. acquired AmeriCredit Corp. on October 1, 2010. Mr. Berce had been a director of AmeriCredit Corp. since 1990, and was Chief Executive Officer and President from 2005 through 2010, President from 2003 through 2005 and Chief Financial Officer from 1990 through 2003.  Mr. Berce is also a director of FirstCash, Inc., a publicly-traded consumer finance company, and AZZ, Inc., a publicly-traded global provider of galvanizing services, welding services, specialty electrical equipment and highly engineered services. 

  • David W. Faeder

    David W. Faeder has served as a director of our company since June 2013.

    Mr. Faeder is a Managing Partner of Fountain Square Properties, a diversified real estate company, a position he has held since 2003.  He served as the Vice Chairman (from 2000 to 2003), President (from 1997 to 2000) and Executive Vice President and Chief Financial Officer (from 1993 to 1997) of Sunrise Senior Living, Inc., a provider of senior living services in the United States, United Kingdom and Canada. From 1991 to 1993 he served as Vice President of Credit Suisse First Boston (formerly First Boston Corporation), directing the real estate advisory business for the RTC in the Washington, DC area.  Mr. Faeder is currently a director of Federal Realty Investment Trust, a publicly-traded REIT.

  • Peter A. Gallagher

    Peter A. Gallagher has served as a director of FBR Asset Investment Corporation, a predecessor of our company, since August 2000 and, upon the merger that formed our company in March 2003. 

    Mr. Gallagher served as the President and Chief Executive Officer of America’s Promise – Alliance for Youth, a non-profit organization dedicated to building the character and competence of America’s youth, from 1997 through 2004. From 1994 through 1996, Mr. Gallagher served as Chief Executive Officer of Source One Financial Service, Inc., and from 1989 through 1993 he served as Senior Vice President of AT&T Consumer Affairs. Mr. Gallagher has also served as a member of the Board of Trustees of Pew Charitable Trust – Partnership for Civic Change; VHA Health Foundation, Inc., and the National Assembly of Health and Human Services Organizations. From 1996 through 1999 he served as Vice Chairman of the District of Columbia Emergency Board of Education. 

  • Ralph S. Michael, III

    Ralph S. Michael, III has served as a director of our company since June 2006.

    Mr. Michael is President and Chief Executive Officer of Fifth Third Bank, Greater Cincinnati, a position he has held since December 2010. From 2005 through 2007, Mr. Michael was President and Chief Operating Officer of The Ohio Casualty Insurance Company. From 2003 through 2005, he was Executive Vice President and Manager of Private Asset Management and held other positions with U.S. Bank. From 1979 through 2002, he held various executive and management positions with PNC Financial Services Group. Mr. Michael is a director of AK Steel Corporation, FBR & Co., Key Energy Services, Inc., and Cincinnati Bengals, Inc. He is also a trustee of Xavier University (Ohio). 

  • Anthony P. Nader, III

    Anthony P. Nader, III has served as a director of our company since March 2015.

    Mr. Nader is a Managing Director of SWaN & Legend Venture Partners, a principal investment firm that Mr. Nader co-founded in 2006, with investments in growth oriented companies as well as domestic and international real estate holdings.  Mr. Nader also serves as Vice Chairman of Asurion, a privately held company with over 16,000 employees that provides technology protection to approximately 300 million customers worldwide.  In 2008, Mr. Nader successfully merged his prior company, National Electronics Warranty (“NEW”) with Asurion.  Mr. Nader joined NEW in 1990 as Chief Operating Officer, was named President in 1999 and Chief Executive Officer in 2006, a position he held until 2013.  Under his leadership, NEW grew to be the largest global provider of extended service plans for the consumer electronics and appliance industry.  Mr. Nader is the Chairman of the Inova Health System Board of Trustees. He is the past chairman of the Inova Health System Foundation Board. He is a director of The Cranemere Group Limited, Optoro, Inc., BigTeams, DuraTap and is an active advisor for KIND Healthy Snacks.

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Recent News
Dec 13, 2018

Arlington Asset Investment Corp. (NYSE: AI) (the "Company") today announced that its Board of Directors authorized a quarterly dividend of $0.375 per share of common stock for the fourth quarter...