Investment bank FBR Capital Markets Corp. appointed Andrew Arthur as managing director and head of distressed sales. He will be based in New York. Arthur has been in the distressed sales and trading business for 25 years, holding numerous positions with key industry players such as Royal Bank of Scotland, Bear Sterns & Co. and Morgan Stanley. He most recently worked with Citadel Securities in New York. Michael Lloyd, senior managing director and head of credit, convertibles and options at FBR, called Arthur a highly-regarded leader in the industry. "His exemplary track record and outstanding relationships with major hedge funds will be considerable assets as we continue to grow our credit activities at FBR." Write to Christine Ricciardi. Follow her on Twitter @HWnewbieCR.