Michael Nierenberg Background Information

Michael Nierenberg Background Information

Michael Nierenberg is aged 55 years and currently is serving as a managing director in a company called Fortress. Prior to this, he served in the same position at Bank of America Merrill Lynch. The company is known for wealth management and a global trader. While in the same company, he also served as the head of global mortgages and scrutinized products. He had initially worked as the chairman of Global Scrutinized Products and a committee member of the investment Bank in JP Morgan. He once served as a member of Bear Stearns Board of directors for two years between 2006 and 2008.

During early times in the same company, he headed the interest rates and foreign exchange and at the same time was heading the mortgage backed securities. He also built mortgage businesses in Lehman Brothers where he worked there for seven years. Michael Nierenberg is also currenly serving as the CEO, chairman and the president of the New Residential Investment Corp. According to the statistics that was done in June 2018, his net worth is approximated to be $43.7 Million. In New Residential, he has got more than 1,708,708 units of stock. Michael Nierenberg has also acquired quite a number of trades in the company. In June 2018, approximately 1,708,708 units was exercised and is said to be the largest trade he has exercised in NRZ.

This exercise worth more than $25,562, 272. After every four months, total number of units traded by Michael Nierenberg is approximated to be 412,885. He has also worked hand in hand with Douglas Jacobs who is the oldest in the company and is serving as an independent director of NRZ. In NRZ, Alan L. Tyson and Andrew Sloves are among the top insider traders. The company invests in real estates and is also involved in management of residential mortgage management. It has its headquarters in New York. From the experience he has, the management saw that Michael Nierenberg can fit to be a director. He has also participated in various community development projects and most of the charity works.

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