Fortress Investment Group has made a name for itself for being among the top investment firms in the United States. They boast of over 1,500 private clients and institutional investors worldwide and managing and have over $70 billion in assets under their investment management.Among those on the forefront and steering wheel of this company is Randal Nardone, Its Chief Executive Officer. The Boston School of Law alumnus is one of the firm’s founders alongside Wes Edens and Rob Kauffman.Randal Nardone also holds a Bachelor of Arts degree in English and Biology. He was named interim CEO in 2011 and entirely took the seat in 2013. Being on the management team from the founding date in 1998, Randal Nardone was later elected to the board of directors in November 2006. Currently, he also holds the position of principal alongside the likes of Wes Edens.
Randal has led Fortress to some achievements like the sale of their outstanding shares to Soft Bank Group, a Japanese owned organization.This resulted in a total of $3.3 billion with Class A shares going at $8.08 from the original $5.83 and the executives sharing $1.39 billion according to each one’s investment. Randal Nardone said that this offered an opportunity for further growth of the firm and it would open up new credit sources. Randal has an excellent track record in leadership positions previously serving at the Union Bank of Switzerland as the Managing director. Before this, he was at Blackrock Investment Management where he was a principal. He had previously put his law degree to active use when he was at Thacher Proffitt & Wood law firm.
Here, he was not only a partner but also served on the executive committee. Randal’s hard work has earned him a self-made status along with a rank in the Forbes billionaire list. He was number 557 with a net worth of $1.8billion. Soft Bank upon the purchase of Fortress, decided to leave the business model and the leadership intact, crediting them for getting Fortress to its current position. The employees also credit the administration for creating a conducive environment for them to learn and work on top of challenging themselves professionally. Randal moreover dedicates his leadership talent and advisory skills to various boards. He is the president and chairman of SpringLeaf Financial Holdings. He is also the vice president and secretary of Newcastle LLC, and President of NSC1 LLC.