Randal Nardone: Reigning King of the Fortress Group
Mr. Randal Alan Nardone co-founded Fortress Investment Group LLC in 1998. He has held the position as its chief executive officer since August 2013. In 1998 he took on the role of principal in addition to his current responsibilities. Mr. Nardone serves in several senior management positions and on many boards as well. He also holds the title of Chief Executive Officer of Fortress Macro Advisors, LLC and Fortress Macro Falstaff Advisors.
Another one of his multiple roles and positions of responsibility is that of secretary and chief operating officer at Impac Commerical Holdings, Inc. He is also the principal at FM Falstaff Advisors and Fortress Investment Group LLC. He co-founded FM Falstaff Advisors LLC and performs the role of non-independent director at Fortress Investment Group LLC.
Before he co-founded Fortress in May 1997, Mr. Nardone was the managing director of the United Bank of Switzerland. Prior to that, he worked as the principal of BlackRock Financial Management, Inc. Before that, Randal Nardone was a partner and member of the executive committee of Thacher, Proffitt, & Wood, a law firm.
Other positions he holds are those as president and chairman of Springleaf Financial Holdings, LLC, and vice-president and secretary of Newcastle Investment Holdings LLC. Nardone was on the Forbes billionaire list until March of 2007, where he was ranked by the company as the 557th richest man in the world. This was the same year that Nardone purchased a condo at 101 Warren Street for $22 million. This Tribeca condo had square footage of 5,769 and is located actually above the penthouses.
In November of 2008, Mr. Nardone’s Fortress stock decreased significantly. It had gone public in early 2007. The share price dropped to a new 52-week low of $2.22 from a 52-week high of $19.50. Consequently, Mr. Nardone’s net worth was significantly decreased, and he was cut from the Forbes billionaires list.
Mr. Nardone has a degree in law, earning his J.D. from Boston University. He did his undergraduate studies at the University of Connecticut, where he earned a BA in English and BS in biology.
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