Michael Nierenberg works at Fortress as a managing director. He has previously worked at Bank of America Merrill Lynch as head and managing director Global Mortgages and Securitized Products. Nierenberg has also worked at JP Morgan in the same capacity. Before working with JP Morgan, he had already held various leadership positions that culminated in his 14 years with Bear Stearns. This included being head of foreign exchange and interest rates operations. Before joining Bear Stearns, Michael Nierenberg had worked at Lehman Brothers for seven years. He is credited for improving the adjustable rates Mortgage business at the company.
At 55, Michael Nierenberg has accomplished what most business executives at his age can only dream of. He has been the CEO, President and chairman of the board at New Residential Investment. However, there are other older and younger executives at the company with Douglas Jacobs being the oldest at 70.
New Residential Investment Corp is a revolutionary investment trust that has its focus on investing and managing assets related to the residential mortgage in the United States. It operates through residential securities and loans, servicing and originations as well as consumer loans segments. As such, the company qualifies to be a real estate investment trust, especially for the purpose of federal income tax.
Michael Nierenberg’s rise up the ladder has been nothing short of phenomenal. He is a true definition of determination and self-belief. His forays in the stock and financial markets have inspired not only his fellow workmates but also the younger generation looking to venture into the same line of business. He credits his success to discipline and not taking anything for granted. Looking at what he has already achieved, one can only imagine what the future holds for him. He represents the millions of Americans who work day and night to improve the financial standing of their companies.
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