Professional Profile of Michael Nierenberg
Michael Nierenberg’s professional profile starts with his time at Lehman Brothers, where he worked for seven years. During his time there, he was instrumental in building the companies adjustable rate mortgage business. His expertise, skills, and knowledge eventually lead to him being placed in charge of the board of directors, acting as director.
Later, Mr. Nierenberg spent 14 years working at Bear Stearns. While there he held a handful of different positions in the companies leadership. One of these positions was the head of the interest rate and foreign exchange operations. Other positions included the co-head of the mortgage-backed securities trading department as well as the co-head of structured products. From 2006 to 2008, he also acted as a member of Bear Stearns board of directors.
After his time at Bear Stearns came his tenure at JP Morgan. While at JP Morgan, he also acted as a member of the Global Securitized division for some time, which he later became the head of.
After his time at JP Morgan, Michael Nierenberg joined Bank of America’s Merril Lynch branch in 2008. While there, he served as the managing director and head of the Global Mortgages and Securitized Products division. Additionally, he served on the management committee of the investment bank. He also held all responsibilities for the sales activities and trading for his division. After this, he served as the managing director at Fortress.
Mr. Nierenberg is now acting as the Chairman of the Board, Chief Executive Officer, and President of the New Residential Investment Corp, where he has been since 2013. Thanks to many of his efforts, the stock value has had a decent increase, coming in at $16.02 USD. Not only that, the stock is currently up 0.82 % +0.13 points. He is also currently holding the position of Chairman at the Samuel Waxman Cancer Research Foundation.
Michael Nierenberg currently has an estimated net worth of over $41.7 Million dollars. This was as of June 26, 2018. This net worth can be traced back to his ownership of stocks from the New Residential Investment Corp, where he owns 1,708,708 units of stock. At that time, the value of this stock was calculated to be $41,723,267, of which he has sold none over the last three years.
About Michael Nierenberg: www.newresi.com/contact