Michael Nierenberg is the current CEO of New Residential Investment. He is also the Managing director at Fortress. One would ask why he has all these jobs and why not stick to one job. Several companies want him to be part of their companies because of the skills and experience he has on trading. Now prior to this he served as the managing director and the head of Global Mortgages. He also securitized the products of Bank of America Merrill Lynch, and here they put him in charge of all the sales and trading activities. He joined this bank in the year 2008 and apart from the duties mentioned above he was also a committee member in that bank.
Mr. Nierenberg has held a lot and great leadership positions in the different companies he has been to. During his 14 years with Bear Stearns, he was the head of the interest rates and also foreign exchange. All the trade operations went through him. Aside from this he also was co-head of the structured products of the company. Finally, he was also the co-head of mortgage-backed securities trading. Michael Nierenberg spent two years being a member of the Bear Stearns Board of Directors. Lehman Brothers cannot forget his contribution to their company, and this was before joining Bear Stearns. In this company, he was instrumental in the building of the company’s adjustable rate mortgage business.
His skills and experience as described above have led a lot of companies yearning for him and those that have him not wanting him to leave. In most scenarios, he always holds very senior leadership positions in every company he is at. This is the reason as to why the New Residential board of directors concluded that he should serve the company as the director.