An entrepreneurial idea requires adequate startup capital to implement. Where one’s financial muscles cannot suffice, a myriad of heads are brought together to make the dream a reality by providing the required finances and the accompanying leadership capacity. Such is the example of Randal Nardone and the Fortress Investment Group narrative.
A dynamic businessman, Randal Nardone co-founded the Fortress Investment Group in 1998. Having been appointed to the Board of Directors in November 2006, this business magnate has scaled his upward path to the 557th position among the world’s top billionaires with a net worth of $1.8 billion. In pursuit of academic credentials, Randal graduated with Bachelors in Arts in English and Biology from the University of Connecticut and a Juris Doctor degree from Boston University School of Law.
Promising career at Fortress Investment Group
Between December 2011 and August 2013, Randal Nardone served as the CEO on an interim basis before his appointment to the apex position on a permanent basis. On his steady rise to the pinnacle, Randal served as the chief operating officer, vice president, and secretary from November 1999, among other plum positions and responsibilities as a Fortress’ co-founder. Randal Nardone has been a household name at the summit of the Fortress Investment Group. His exemplary leadership prowess has unfathomably seen the global investment manager grow to about $43.6 billion in assets with over 1750 private and institutional investors under its service provision.
Service across boards
Moreover, he partnered at the Thacher Proffitt & Wood law firm before joining the UBS, a Swiss banking agent, as a managing director. Subsequently, he moved to the Blackrock Financial Management as a principal. Apart from working for Fortress, Randal has served on many boards of different firms, for instance, the New Residential Invested Corp, Eurocastle Investment Limited, Springleaf Holdings, and Aircastle Limited.
Randy’s take on Softbank’s Purchase of Fortress Investment Group
Following the acquisition of Fortress Investment Group by the SoftBank Group Corp, Randal Nardone remained confident that the first deal would supplement the company’s operations. Whenever developments unfold in the business world, such as acquisitions, competent personnel are usually considered for retention to facilitate a smooth transition of operations and leadership. Nardone’s deservingly earned his place among those retained in the stellar arrangement.