Randal Nardone: Jack of All Trades
Randal Nardone is the co-founder and principal of the Fortress Investment Group LLC and has been since November of 2006. Since 1998, he has been part of the Management Committee of Fortress, where he served as interim Chief Executive Officer from December 2011 to July 2013 and was made Chief Executive Officer in August 2013. Prior to being the co-founder of Fortress was a managing director of UBS, an investment banking company, from May 1997 to May 1998. Prior to joining UBS, he was a principal of Black Rock Financial Management, as well as being a partner and executive member of the executive committee of Thatcher, Proffitt & Wood, a law firm headquartered in New York. He has received a B.A. In English & Biology from the University of Connecticut and a J.D. from Boston University school of Law.
There was a point in time where Randal Nardone was a member of the Forbes Billionaire List, which was in 2007, where at that time, his net worth was $1.8 billion. When he was listed on the billionaire list, Randal Nardone was listed at position 557. Unfortunately, since that time, he has fallen from that list and has yet to resurface. It was at this time that he became the interim CEO of the Fortress Investment Group, because the Prior CEO, Dan Mudd, was taking a leave of absence, and he was doing so because Mr. Mudd was being sued by the Securities & Exchange Commission while he was the CEO of Fannie Mae. When Randal Nardone took over as Chief Executive Officer, the company was worth $43.6 billion Assets Under Management (AUM).
Besides being a member of the Fortress Investment Group, Randal Nardone also has board and advisor roles, such as the director of the Brookdale Senior Living Facility, headquartered in Tennessee; assumed the executive management role of New Residential Investment Corporation, director of Springleaf Holdings, and director of Gagfah, which is a housing association that has a long-term orientation and a responsible efficient lessor with a nationwide offering of apartments.