The chairman and chief executive officer of New Residential invest corp are Michael Nierenberg. Before becoming the boss of new residential investment, he worked in several positions that prepared him to be a successful leader he is today. He worked in the following position; managing director and global mortgages head and securitized products with the role of all the sales and trading done in the division at Bank of America Merrill Lynch and also as a managing director of the fortress investment group. Michael Nierenberg got the position of the president and chief executive officer of new residential investment corp back in the year 2013.
Three years down the line he was appointed as the chairman of the board of directors. Mr. Nierenberg joined the bank of America Merrill Lynch in 2008 from being a member of the management committee of the investment bank and being in charge of global securitized products at JP Morgan. Mr. Michael worked in Bear Stearns for fourteen years where he held several important positions. He was in charge of the trading of foreign exchange and interest operations; he was also the co-head of structured products and the co-head of mortgage backed securities trading. At some point, while he was in Bear Stearns, he was among the members of the board of directors.
From the research that was calculated on 26th June 2018, they indicated that Michael Nierenberg is estimated to have a net worth of about 43.8 million dollars. The network is based on the value of the units that Michael holds of new residential investment corp. Michael earns more from his position as the CEO and chairman. Michael Nierenberg said to have participated in about three trades of new residential stock which is about forms that were filled at SEC. in the year that Mike was appointed as the chairman which is 2016 he made his massive trade ever since he began taking part of the trades. Another trade that Michael keeps up with is the one he does after every 111 days where he trades 418,885 units. He began this trading in the year 2016.