Randal Nardone – What You Need to Know About The Fortress CEO
When one looks back at how Randal Nardone started and rose through the various positions in his extensive career spanning about two decades at Fortress, they can only be amazed by his commitment and hard work.The co-founder of Fortress has been at the helm since he and his other four colleagues founded the prestigious asset management firm in 1998. Randal Nardone got his law degree from Boston School of Law and a Bachelor of Arts in English and Biology from the University of Connecticut.Upon completing his studies, he proceeded to have stints in some institutions where he held respectable positions. He served as a partner and a member of the executive committee over at Thacher Proffitt and Wood law firm.
Furthermore, he worked at Blackrock Investment Management before proceeding to Union Bank of Switzerland where he held the prestigious position of being their MD.This was the year before he undertook what turned out to be the significant investment of starting Fortress with his colleagues.His early experiences prepared him for his productive association with Fortress. Here he has held various positions since its inception. He has served as the firm’s CEO on an interim basis from 2011 before taking place on a permanent basis from 2013.He was also elected to the Board of the firm in 2006, and he has served on it ever since. Furthermore, he also doubles up as the head of the firm’s finance and legal affairs.At Fortress, it is safe to say that he has had a prosperous career.About two decades ago when the firm was founded quite a few would have anticipated the growth we have witnessed until today.
Today, the hedge fund manages assets worth about $65 billion for its broad clientele.He was at the center of the sale that saw the firm sell its outstanding stake to Soft Bank Group. The auction saw the Japanese firm pay about $3.3 billion. Class A shares traded for $8.08 from $5.83.In Randal’s opinion, the sale would speed up the firm’s growth and provide more credible sources. After the buy-in, Soft Bank Group allowed the in-house management of Fortress to continue with their control of the firm.This attested to their confidence in the leadership offered by Randal Nardone together with his colleagues. Additionally, the excellent reviews Fortress is given by its employees attests to the leadership of Randal Nardone and his colleagues.Employees speak highly of the experience of working at the place and recommend Fortress as a top place to work.