Rock Tonkel named CEO for Arlington Asset Investment
Arlington Asset Investment Corp. has named a new leader. J. Rock Tonkel Jr. will be the firm’s CEO, effective immediately. He succeeds Eric F. Billings, who co-founded the company in 1989, and is retiring after serving as CEO and co-CEO since 1997.
Tonkel has served as the company’s president and chief operating officer and as a member of the Board of Directors and Investment Committee since 2007. He will continue as president and as a director for the remainder of his term.
The firm said in a press release that Billings will continue to serve as the board’s executive chairman as well as chairman of the Investment Committee. “It has been one of my greatest professional privileges to lead Arlington Asset and its employees,” Billings said in a statement. “We have capitalized on many opportunities, and faced and overcome many challenges … As I retire as CEO to focus on my other business endeavors, specifically spending more time working with my three sons at Billings Capital Management LLC, I know the company is in excellent hands as the company's best days are still ahead …”
Arlington Asset Investment Corp., based in Arlington, invests primarily in mortgage-related and other assets.