Fortress Investment Group named Randal Nardone its Chief Executive Officer. Fortress Group is a company that specializes in asset management. It has carved a niche in the financial and asset investment sector as a leading risk management company and alternative asset investment outfit. The group has spread its wings across the globe. It was started n 1998 as a private Equity firm but has grown by leaps and bounds until it is reported to be managing assets worth over $43.6 billion. Randal Nardone is 55 years old.
Randal, The Billionaire
In 2007, Randal Nardone was named as one of the world’s richest people by Forbes magazine, following the increase in the price of Fortress shares. Randal who is referred to by his colleagues as Randy has an in-depth knowledge of the corporate sector. He is also a shrewd businessman who knows when to push and when to beat a retreat. In one of the most recent developments, Randal Nardone led Fortress in a business deal that saw it purchased at a cost of $3.3 billion by the Japanese software giant SoftBank. The deal involves SoftBank owning all of the shares that were previously owned by Fortress. The deal explains that Fortress will continue operating independently, although the end year financial report will be incorporated with that of SoftBank. Randal Nardone is a co-founder and one of the Principals of Fortress Investment Group. Randal also served several other companies before he joined a group of investors to start Fortress Investment Group in 1998. He has worked for such companies as UBS where he offered his duties as the Managing Director. He also served as the principal of BlackRock Financial Management.
Randal Nardone; His Education and Career Path
Randal Nardone is practicing what he learned in college. He pursued a Bachelor of Science at Connecticut University before he focused on Law from Boston University. Randal became a CEO of Fortress following Mudd issuing a presser that he would be resigning from the CEO role.
Fortress Investment Group
Fortress Investment Group was founded in 1998 as a small private equity firm. The business grew and made Fortress strategize and soar in their area of business. Fortress has the assets of over 1750 private and public clients under its management crew. It has had its fair share of adventures in including the one that made it almost stand in the way of the Winter Olympics in 2010. Fortress Investment Group has employed almost 1,000 employees. It says that it has a team of experts dedicated t finding tailor-made solutions to its clients.