Michael Nierenberg is the CEO as well as chairperson of New Residential Investment Corp. He is also the managing director at Fortress. New Residential Investment Corp is a real estate investment trust firm. They focus on, invest in and manage residential mortgage related assets in the United States. They work by Servicing and Originations, residential mortagage securities and loans, and consumer loans segments. In2013, Michael Nierenberg was appointed CEO and president of the firm. Three years later in 2016 he was appointed Chairman of the Board.
Michael Nierenberg has held top positions in the finance and mortgage industry throughout his professional career. Before becoming top executive at New Residential Investment Corp, he served at Bank of America Merrill Lynch where he was top executive officer and head of global securitized products. He was part of the investment committee. Before joining Bank of America Merrill Lynch, Michel Nierenberg was in JP Morgan and prior to that he worked for fourteen years with Bear Stearns. In his tenure at Bear Stearns he held many senior positions of leadership. Nierenberg served as head of mortgage-backed securities trading and head of interest rate and foreign exchange trading operations. He was a member of the board of directors at Bear Stearns for two years before he left in 2008.
Prior to Bear Stearns he had worked seven years at Lehman Brothers where he was a key contributor to the company’s adjustable rate mortgage business. About Michael Nierenberg is 55 years old with a lot of experience in matters of business management and finance. His estimated worth is in the least 43.8 million dollars by June 2018. He owns over 1.7 million units of New Residential Investments stock. Nierenberg’s leadership at New Residential investments has sparked a lot of confidence in the firm and insider trading at New Residential Investment has been auspicious the last three years with Nierenberg being among the most active insider traders. He is among the younger members of his board with several above 60 and several ranging 54 to 56 years. He has developed a life-long career consistently building his working experience to where he is today.