Michael Nierenberg, the current Chief Executive Officer of New Residential Investment Corporation, is one of the most prominent figures in the Investment Management Industry. The CEO incorporates the expertise in sales, and trading as well as investment management to ensure that New Residential Investment Corp. remains in business. Nierenberg once worked as the Managing Director for one of America’s reputable banks, Bank of America Merrill Lynch. Besides, he headed the Scrutinized products and Global Mortgages departments in the same bank.
Michael Nierenberg leaves an excellent record in every position he works earning him frequent appointments in high profile jobs. Having worked with companies like Fortress Investment Group, JP Morgan, Bear Stearns, and Lehman Brothers, Nierenberg is indeed the truth of investment management. In the said companies, Michael either served as the head of a particular division or a Director. His unmatched leadership skills earned his appointment to Chair the Samuel Waxman Cancer Research Foundation from 1996 to date.
In the investment management industry, Michael Nierenberg earns recognition for his outstanding collaboration with team members and junior staff and competent management expertise. Additionally, his ability to predict and analyze the future market behavior makes him stand out as one of the market’s game changers. Having Michael as the leader, New Residential Investment Corporation is sure of continuous trading in the real estate investment business sector. The company survived the United States of America’s volatility and financial breakdown earning the trust from its clients as their best investment manager. Many companies succumbed under the pressure of the United States’ financial crises that affected the housing market.
However, New Residential Investment Corporation took advantage of the situation and turned it into a smart investment in the housing market. Under the leadership of Michael Nierenberg, the company has approximately 900,000 equities valued at around $13 million. Besides the company offers MSRs, mortgage-servicing rights services to its clients. The clients also get RMBS, residential mortgage-backed securities from the company among other investment services. The company’s value in the stock market stands at $6.7 billion with each share valued at $16.38 as on March 8, 2019. Its subsidiaries include Shell Point Mortgage Servicing and NewRez.