Michael Nierenberg is a man with many talents. He is the President, chairman and managing director of Fortress. He also worked at Bank of America Merrill as the managing director. He was responsible for trading activities and sales. He moved to Bank of America Merrill when he left JP Morgan. He held various positions at different companies before joining JP Morgan. He worked at Bear Stearns as the head of interest rates. Furthermore, he managed exchange trading in the company. He worked for Lehman Brothers for seven years before moving to Bear Stearns.
Michael Nierenberg loves working with people that challenge him. He admits that working for different companies has its advantages and disadvantages. While it allows you to interact with people from different backgrounds, it is difficult adjusting to a new environment. What helped him was having a positive attitude and forming a connection with employees. Michael Nierenberg forms relationships easily to help him adjust to a new environment. He advises people to be open to new ideas and experiences to adjust to a new environment. Furthermore, working with professionals helped him achieve set goals and become successful.
Michael Nierenberg joined the board of directors for Bear Stearns because of good performance. The management decided to elevate him because they recognized his potential. Michael Nierenberg has vast knowledge and is a good leader. He supports employees and motivates them to work hard. He discovered that helping employees in their areas of weakness is more important than shutting them down. He states that by motivating them to work hard, you avoid the trouble of looking for new employees every time. Michael Nierenberg interacts with colleagues early in the morning before he starts working. He adds that forming close relationships with colleagues helps you work as a team to achieve set objectives. Michael Nierenberg has built a successful career and is helping others reach their potential. He trains new employees during his free time and shows them how to succeed in the industry. Michael Nierenberg wears many hats and leadership is at the forefront. Every company he worked for became successful.
Even after its acquisition by SoftBank Group, Fortress Investment Group has continued to operate independently under the management of its three principals. The multi-billion company acquired Fortress Group on a cash transaction that cost them $3.3 billion. After the completion of the acquisition transaction, many people and especially investors were worried about the fate of Fortress Investment Group. However, the three presidents of Fortress assure its clients and potential clients that the operations of the firm would run as usual, under their leadership but still under Softbank. The only impact was the transfer of all the outstanding Fortress shares to the acquiring company, SoftBank.
Peter Briger, the man who spearheaded the acquisition process, confirmed to the public that the move by Fortress Investment Group was only to the advantage of Fortress since the firm would leverage its capital on the SoftBank’s large capital base which is mainly focused on the transport, technology and telecommunication sectors of the economy. This has been taken with no doubt by the investors since Peter Briger, the principal who was outsourced from Goldman Sachs in 2002, is a reputable leader who is renowned for his aptitude in making sound financial and investment decisions. Briger was the same man behind the historical event of 2007 that saw Fortress Investment Group go public.
The company announced its move of providing its initial public offer at a time when no other company of its status had ever done that. To the risk-averse investors, it was considered a perilous decision and a decision that was scary. However, the aftermath was respect and a well-built reputation for the company in the eyes of the public. Other firms in the investment industry that were impressed by the initiative copied the move and went public too.Peter Briger has also introduced a new culture at Fortress Investment Group where the company participates in corporate social responsibilities. These include participation in activities that are geared towards the conservation of the environment and also improving the welfare of the community as a whole. For example, Fortress has segregated a fund that grants education support to the children from needy families.