Michael Nierenberg, the President and Chief Executive Officer of the NRZ
Michael Nierenberg is the Managing Director at Fortress. He is also the President, Chairperson and the Chief Executive Officer of the New Residential Investment Corp. Nierenberg has also served as the Managing Director and the head of Global Mortgages as well as Securitized Products at the Bank of America Merrill Lynch.
While at the bank, he was responsible for all trading and sales activities within the division. In 2008, Michael Nierenberg joined the Bank of America Merrill Lynch from the JP Morgan Company. Here he was the head of the Global Securitized Products and an active member of the management board of the investment bank.
Before working at the JP Morgan Company, Nierenberg held various senior leadership roles during the fourteen years with the Bear Stearns, which include the head of the interest rate and the foreign exchange trading operations. Between 2006 and 2008, he was an active member of the Bear Stearns’s Board of Management. He spent seven years in the Lehman Brothers Company before joining the Bear Stearns Company. He was instrumental in building Bear Stearns’s adjustable rate mortgage business.
Mike Nierenberg’s Net worth
The estimated net worth of Michael Nierenberg is $43.8 Million as of 26th June 2018. He owns more than 1,708, 708 units of the New Residential Investment stock which are approximately over $43, 812, 070. Over the last three years, Michael Nierenberg has sold the NRZ stock providing him with additional income. He also makes some cash as the chairperson of the company’s board, the President and the Chief Executive Officer of the New Residential Investment.
Since 2016, Michael Nierenberg has made more than three trades of New Residential Investment Stock. Most recently, he practiced 1.7 million units of the NRZ stock worth $25.56 million as of June 2018. The largest trade that Michel Nierenberg has ever made as the Chief Executive Officer is 1, 708, 708 units of the company. On average, he trades approximately 412,885 units in every 111 days since the year 2016. Currently, he still owns approximately 2, 644,060 units of the New Residential Investment Stock.
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