MICHAEL NIERENBERG OF NRZ
New Residential Investment Corporation is a real estate company based in New York. The company (also known as NRZ on the New York Stock Exchange) is led by the topmost executive group in the business. The company primarily centers on: non-Agency residential mortgage-backed securities, excess mortgage servicing rights, residential mortgage loans, residential mortgage servicing rights, and other opportunistic investments.
Continuous prudence and inherent tendency are required to triumph when conducting in such securities. Moreover, this prowess, aptitude, and capabilities need to be all through the organization especially in the C suites. The mission of New Residential is to spot benefits that produce stable deep-rooted cash flows and utilize conservative firm assets structures to create returns all through different interest rate domains. Much of New Residential Investment Corp’s successfulness can be accredited to the comprehensive knowledge and proficiency of their executive management team.
New Residential Executive- Mr. Nierenberg
Three men are leading New Residential Investment Corporation among them being Michael Nierenberg. He was appointed Chief Executive Officer and President of New Residential in November 2013 and appointed Chairman of the board in May 2016. Michael Nierenberg had previously served as Chief Accounting Officer at FXCM from 2012 to 2015. Among other duties, he tended to direct financial report, tax, accounting, and financial planning activities. Preceding his position in New Residential, Michael Nierenberg worked as Managing Director at Fortress. He also served as Managing Director and Head of Global Mortgages Products at Bank of America, Merrill Lynch with responsibility for trade and sales activities within the division in 2008.
Prior to this, he worked at JP Morgan as Head of Global Securitized Products while concurrently serving as a member of the committee management of the bank. While working with Bear Stearns for about 14 years, Mr. Michael Nierenberg held senior leadership positions in various categories which include: Head of Interest Rates and Foreign Exchange Trading Operations, Co-head of Structured Products and also Co-head of mortgage Backed Securities Trading. Mr. Nierenberg was also a member of Stearns’s Board of Directors.
Michael Nierenberg is said to have been bringing the trust to new heights for about six years.