Michael Nierenberg is the head of New Residential Investment Corp. In this company, he strives to drive robust risk-adjusted returns through investments in various units such as excess mortgage servicing rights and servicer advances. Under his guidance, the firm also leverages its services through investment expertise with the aim of delivering attractive returns to help its clients to enjoy strong dividends. Mr. Nierenberg also chairs the Samuel Waxman Cancer Research Foundation. Previously, Michael Nierenberg was a Managing Director at Fortress. He served as Managing Director and head of Global Mortgages and Securitized Products at Bank of America Merrill Lynch.
At Fortress, he was responsible for all sales and trading activities within that division. Nierenberg joined Bank of America Merrill Lynch from JP Morgan in November 2008, where he was head of Global Securitized Products and also a member of the management committee of the bank. Prior to his stint at JP Morgan, Mr. Nierenberg held various senior leadership positions when he served for fourteen years at Bear Stearns, where he was also the head of interest rate and foreign exchange trading operations, He was co-head of structured products and mortgage-backed securities trading. Between 2006 and 2008, he served as a Member of the board at Bear Stearns’s. Prior to joining Bears Stearns, Mr. Nierenberg spent seven years at Lehman Brothers and was a key influencer in building the company’s adjustable rate mortgage business.
Michael Nierenberg’s net worth estimate stands at $43.7 Million United States dollars as of 26 June 2018. He owns over 1,708,708 units of New Residential Investment stock valued at over $43,732,752. Additionally, Michael made over three trades of the New Residential Investment stock from 2016. Recently he exercised 1,708,708 units of NRZ stock that are valued $25,562,272 on 26 June 2018. The most considerable trade that he’s ever made was in June 26th, 2018 when he exercised 1,708,708 units of New Residential Investment stock valued at over $25,562,272. On average, Nierenberg trades nearly 412,885 units after every 111 days since 2016. As of 26 June 2018, Michael still owns at least 2,644,060 units of New Residential Investment stock.
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