Michael Nierenberg is the current Chairman, CEO and President of New Residential Investment Corp, a real estate investment trust (REIT). He has built a successful career in the investment sector with over 15 years of experience. He also serves as Chairman of Samuel Waxman Cancer Research Foundation. He served at Fortress Investment Group, an alternative asset manager based out of New York, as a Managing Director.
Previously, Michael Nierenberg served as a Managing Director as well as head of Global Mortgages and Securitized Products at Merrill Lynch Bank of America. He headed trading and sales endeavors in the division. He worked at JP Morgan serving as the Global Securitized Products head and a member of the management committee of the firm.
He moved to Bear Steams where he worked for fourteen years. He served in various capacities including interest rate and foreign exchange head, structured products co-head, as well as mortgage-backed securities trading. He was promoted to become a member of the Bear Steams’ Board of Directors owing to his diverse knowledge, skills, expertise and experience.
At New Residential Investment Corp, Michael Nierenberg heads the company’s endeavors. The company focuses on lucrative opportunistic investments and management primarily investments related to the residential real estate. The company’s target in regards to investments include investments in residential mortgage-backed securities, investments in the excess mortgage servicing rights, investments in residential mortgage loans as well as other opportunistic investments in the area.
Michael Nierenberg is at the forefront of New Residential Investment Corp’s efforts to thrive in the U.S. residential housing market which has been reported to be worth about $19 trillion. Unfolding developments in the sector in the aftermath of the U.S. financial crisis are transforming the way mortgages originates, owned, and serviced. As a result, there has been many investment opportunities opening up. The company is better-placed to take advantage of the opportunities owing to its experience and key business relationships. It is always looking for opportunities that will increase adjusted returns and eventually, increase dividends passed down to its shareholders. The company targets long-term cash-flows and employ conservative capital structures to drive more returns throughout different interest environments.
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