Emanuel J. Friedman

Age: 58.

2003 compensation: $480,000 salary, $8,977,838 bonus.

Ride to work: Takes the same taxi to work each day.

Career: Joined Legg Mason Wood Walker & Co. in 1973. From 1985 to 1989 was head of institutional sales at Johnston, Lemon & Co. in Washington. Co-founded FBR with Johnston, Lemon colleagues W. Russell Ramsey and Eric F. Billings in 1989.

Interests: A history teacher by training, Friedman is a collector of historic financial documents and securities.

Education: BA from the University of North Carolina at Chapel Hill, JD from Georgetown Law Center at Georgetown University.

Other: Native of North Carolina. Board member of several nonprofits and charitable foundations, including the Corcoran Gallery of Art, the Friedman-French Foundation, the Friedman, Billings, Ramsey Charitable Foundation and The African-American Civil War Memorial Freedom Foundation.

Eric F. Billings

Age: 52.

2003 compensation: $480,000 salary, $8,977,838 bonus.

Ride to work: Drives his Porsche.

Career: Joined Legg Mason in 1982. Jumped to Johnston, Lemon & Co. to work in institutional sales group in 1984. Co-founded FBR in 1989.

Interests: Active in efforts to bring baseball to Northern Virginia.

Education: BA in economics and finance from the University of Maryland.

Other: Born in Boston. He is a board member of the Friedman, Billings, Ramsey Charitable Foundation, Wish Friends Inc., Washington Scholarship Fund and Catholic Charities; chairman of the Center City Consortium Capital Campaign, co-chair of the Cardinal's Appeal.