President and CEO, Michael Nierenberg, traded 339,177 shares of stock in New Residential Investment Corp. This brought the total transaction to $983,602 a couple of years back. The President and CEO had a stake of exactly 6,206,939 in direct shares valued at $14,734,358 at the time of close on that date. Michael Nierenberg, Chairman with NRZ, bought 18,600 shares priced at an average of $15 a share during February of 2017. This somewhat new stake is priced at $14,734,358.
About Michael Nierenberg
Mr. Nierenberg’s been a Chairman of the Board for New Residential Investment Corp ever since May 2016. He’s also been a representative on the Board of Directors starting since November 2013. He was designated as the CEO and President at the same time.
Mr. Nierenberg also serves as Managing Director with Fortress. Before growing into his CEO role at New Residential, Michael Nierenberg worked as the head of Securitized Products and Global Mortgages as well as managing director with Bank of America Merrill Lynch. He was responsible for every sale and trading activity performed in that division.
Mr. Nierenberg came aboard Bank of America Merrill Lynch in November 2008 after serving with JP Morgan. He was the lead for Global Securitized Products and an associate with the management board for the investment bank. Before his tenure with JP Morgan, Michael Nierenberg had a variety of senior leadership roles throughout his fourteen years at Bear Stearns.
This included positions like co-lead for structured products, co-lead for mortgage-backed trading of securities and lead for foreign exchange trading operations and interest rates. He served as a representative for Bear Stearns’s Board of Directors from 2006-2008.
Michael Nierenberg dedicated seven years of work with Lehman Brothers before he entered into Bear Stearns and was pivotal in creating the organization’s adjustable rate mortgage venture. Michael Nierenberg’s skill, knowledge and experience that was detailed above gave the Board of Directors enough supportive evidence to decide that Mr. Nierenberg is a good pick for a director role.
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