Arlington Asset Investment Corp. announced the appointment of J. Rock Tonkel, Jr. as Chief Executive Officer (CEO) effective immediately. Mr. Tonkel has served as the President and Chief Operating Officer of the company, a member of the company's Board of Directors and a member of the company's Investment Committee since 2007.

He succeeds Eric F. Billings, who co-founded the company in 1989, and is retiring after serving as CEO and co-CEO since 1997. Mr. Billings will continue to serve as the Executive Chairman of the Board as well as the Chairman of the company's Investment Committee. Mr. Tonkel will also continue to serve as President of the company, as a director for the remainder of his term and as a member of the Investment Committee.