The current Chief Executive Officer of Fortress Investment group started out at Boston School of Law and also holds a Bachelor of Arts degree in English and Biology from the University of Connecticut. Despite this, he is now in the finance field heading Fortress Investment Group which started out as a private equity firm upon its establishment. Randal Nardone was alongside Wes Edens and Rob Kauffman. Currently, he is in charge of legal issues and financial matters of the company. Thus his law degree is still in use despite the company being an investment management firm. He was in the leadership forefront right from the start in 1998 when the organization was established.From that year, he sat in the management committee. He shot up the ranks, and in November 2006, he was elected into the board of directors. On top of being the Chief Executive Officer, he is a principal and director at the firm.
In his tenure of leadership, the company has taken significant strides one of them being the sale of all its outstanding shares to Soft Bank Group, A Japanese owned organization.The sale totaled to $3.3 billion. This meant that every Fortress Class A share would receive $8.08 which is an increase from the initial price of $5.83. The executives of the company made $1.39 billion, each sharing according to the size of their investment. Randall believes that this sale would speed up the growth of the company on top of opening up greater credit sources. Soft Bank decided to preserve the leadership of Fortress which it attributed to its success alongside its business model. The employees too trust in the administration and credit them for creating a positively challenging and learning environment.
On top of the profit made from this transaction, Randal Nardone sits at #557 of the Forbes Billionaire’s list with a net worth of $1.8 million on self-made status. Before Fortress, Randal Nardone was the Managing Director at the Union Bank of Switzerland between May 1997 and May 1998. He was a principal at Blackrock Investment Management, and before committing to the financial field, he served on the executive committee and a partner at Thacher Proffitt & Wood law firm. Currently, his leadership qualities are enlisted by SpringLeaf Financial Holdings LLC as president and Chairman; Newcastle LLC, President of NSC1 as vice president and secretary.Having been interim CEO since 2011 and taking the seat in 2013, Randal Nardone has shown exemplary leadership in all positions he has held.