Michael Nierenberg’s profile
Talent or hard work? With Michael Nierenberg, it is hard to draw a line on which of the two has gotten him to where he is now. Michael is currently the Fortress managing director, the president and also Chief Executive Officer of New Residential Investment Corp; a mortgage company that focuses majorly on residential mortgages. Michael Nierenberg has previously held top leadership positions in several financial institutions and companies including the Bank of America Merrill Lynch, Bear Stearns, JP Morgan and Lehman brothers all in which he contributed significantly in the departments he was in charge of. In Lehman brothers, for example, Nierenberg is responsible for the growth in the adjustable mortgage rates of the company during the seven years he worked in the company.
His career journey
Michael Nierenberg worked at Lehman Brothers for seven years during, a period in which he played a great role in growing the company’s adjustable mortgage rates. He then moved to Bear Stearns, and in this particular company, Michael worked for fourteen years during which he held a number of top leadership positions namely; co-head of mortgage-backed securities trading, structured products, the head of foreign exchange and interest rates.
Mr. Nierenberg also managed to become a board member at Bear for two years. JP Morgan was his next place of work after Bear Stearns, and here he headed the Global Securitized Products department aside from being one of the members of JP’s management committee. From JP Morgan, Michael Nierenberg joined the bank of America Merrill Lynch where he held the position of managing director and the head of securitized products and global mortgages. It is after leaving the bank of America Merrill Lynch that he was appointed as the president and CEO of New Residential following which he was appointed as chairman of New Residential’s board owing to his vast experience in investment and mortgage matters.
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