Michael Nierenberg is a fifty-five-year-old investment guru. He has decades of know-how in the industry having served at different prestigious organizations on different ranks. Michael Nierenberg sits at the board Chairman’s post, executive chief and also as the President at New Residential Investment Corp; a subsidiary of Fortress Investment Group. He acquired these positions in the year 2016 and the year 2013 respectively.
Michael Nierenberg’s career background
In addition to his roles at New Residential Investment Corp, Mike Nierenberg is also the Managing Director at Fortress Investment Group. Prior to this job, Mike Nierenberg was the Managing Director as well as the Chairperson of the departments of securitized products and global markets at the Bank of America Merrill Lynch. At this establishment, he was in charge of all the sales and trading endeavors in the departments he headed. Before joining this investment Bank in the year 2008, Mike Nierenberg was the head of the global securitized product sales and trading as well as a member of the management committee at the JP Morgan Investment Bank.
Furthermore, Mike Nierenberg worked at Bear Stearns for one year less of a decade and a half. During his tenure at this establishment, Mike worked on a variety of senior positions. He was once the head of the foreign exchange, and interest rate trading operations, the co-chairperson of the mortgage-backed securities trading division as well as the co-chairperson of the structured products division. Before joining Bear Stearns, Mike Nierenberg has served at the Lehman Brothers firm for seven years. He is credited as one of the brains behind the growth of the adjustable rate mortgage division of the Lehman Brothers.
New Residential Investment Corp
It is a publicly traded REIT that operates in the investment in the real estate business. A REIT (Real Estate Investment Trust) is a type of company that owns and manages chunks of land in different environs which it leases to businesses, families or individuals in exchange for rent. The cash acquired from the rent is then distributed among the shareholders. With know-how in the ins and outs of investment and investment banking, Mike Nierenberg has seen to the growth of New Residential Investment Corp.
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