Michael Nierenberg, the founder, Board Chairman, and the chief executive officer of New Residential Investment Corp., a firm that focuses on opportunistically investments related to residential real estate. He is appointed the chairman of the board in 2016 and became the CEO of the firm in 2013. Nierenberg is known for his vast experiences in leadership stemming from his held positions int he past decades. Before founding NRZ, he was the managing Bank of America Merrill Lynch’s securitized products. He was also the Managing Director of Fortress Investment Group LLC, an investment management firm which manages alternative assets.
Before coming to Bank of America Merrill Lynch, he served as a member of the management committee in JP Morgan until 2008. Michael Nierenberg was one of the longest staying members of Bear Stearns, where he held a lot of senior leadership positions. He stayed for 14 years and held four positions in total, one of them is being the leader of the interest rate and forex trading operations. He both assisted in leading in structured products and mortgage-backed securities trading. He was also a member of the board of directors from 2006 to 2008. Before he started his 14-year tenure in the Bear Stearns, he was the part of the Lehman Brothers for seven years. He was also the chairman of the Samuel Waxman Cancer Research Foundation.
After his tenure at Fortress Investment Group, Michael Nierenberg decided that it was time to make his own company. He founded the New Residential Investment Corp in 2011 and continues to lead the company to this day. In addition, NRZ acquired Shellpoint Partners for $190 million. Nierenberg is known to currently have a net worth of $43.8 million. Since then, he actively searches for ways to always position the firm in an advantageous angle that can survive even on high-interest rates. Michael Nierenberg is known as a supporter of REITs or Real Estate Investment Funds and is one of the firms to invest in it. REITs are good for people who want to invest n Real Estate but doesn’t have the time to make the manage the properties. REITs enable people to invest in real estate is as low as $20 and that makes it advantageous for people who don’t have big funds.