Russ Ramsey
| W. Russell Ramsey | |
|---|---|
 |
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| Nationality | American |
| Alma mater | George Washington University |
| Occupation | CEO |
| Known for | Cofounding Friedman, Billings, Ramsey Group; founding Ramsey Asset Management |
W. Russell (Russ) Ramsey is an American financier and philanthropist, and the founder, chairman and CEO of hedge fund management firm Ramsey Asset Management. He previously cofounded the Washington, D.C., investment firm Friedman, Billings, Ramsey Group in 1989, where he served as president, secretary and co-CEO until 2001. He is also a founding investor in the non-profit investment organization Venture Philanthropy Partners.
In 2014, Ramsey led an attempt to bring the 2024 Summer Olympics to his native Washington, D.C., serving as chairman and CEO of Washington 2024.
Russ Ramsey grew up in Washington, D.C. He graduated from Suitland High School in 1977. As a member of George Washington University's Class of 1981, he studied business administration and graduated with a bachelor's degree. Ramsey received a baseball scholarship and became senior-year team captain of the George Washington Colonials. He is a GW Athletic Hall of Famer and member of the All-Century Baseball Team.
Ramsey began working in the early 1980s as a salesman for business equipment company Pitney Bowes. Following his time there, he joined brokerage firm Johnston, Lemon & Co.'s sales and trading group in 1986. At Johnston, Lemon, he met Emmanuel Joseph Friedman and Eric Francis Billings, who would later become his business partners. In 1989, all three left the firm and formed a new venture called Friedman, Billings, Ramsey Group (FBR), where Ramsey served as president and co-CEO.
In 1997, the firm held its initial public offering, raising $206 million. The same year, the Northern Viriginia Technology Council named Ramsey its "Financier of the Year".
Within its first seven years, FBR raised $7 billion in capital for clients and had become the largest trading firm in Washington, D.C. The firm invested in emerging tech companies. After the IPO, Friedman, Billings, Ramsey Group's stock price increased 50 percent.
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