Randal Nardone is best known for his role as a founder, principal, director, and CEO of Fortress Investment Group, one of the most successful alternative investment companies in the world. His climb to this influential position was, however, preceded by a series of equally prestigious management posts in different organizations, thanks to his unmatched leadership Skills. Here is a breakdown of the practicing attorney’s climb to head Fortress. Read the article at patch.com to know more.
Education and entry into the world of finance
Nardone first graduated from the University of Connecticut with a Bachelor of Arts in English and Biology. But he would soon go after his passion by joining Boston University’s School of Law and pursuing a Juris Doctor degree. Upon admission to the bar, Randal Nardone joined Thatcher Proffit & Wood law firm. A combination of dedication and apt leadership skills saw him elevated and assume a partners position in the firm before leaving to join UBS, a Swiss banking agent.
It was during his tenure here as a managing director that the interest in finance and investment intensified. This saw Randal Nardone leave UBS and join Blackrock Financial Management Inc. as a principal. His big break in the investment world would, however, come in 1998, at the height of the technological boom, when he partnered with four equally experienced finance and investment experts to form Fortress Investment Company.
Career at Fortress
He immediately assumed the position of the company’s Vice President, Chief Operations Officer, and secretary. This put him at the center of almost every critical decision affecting the company. His experience in the investment industry and exemplary leadership skills played a key role in helping the firm burgeon, gain investor confidence and hit close to $70 Billion in Assets under management.
Going public and Softbank acquisition
In 2007, Randal Nardone played an active in the series of brainstorming sessions that saw the investment firm become the first privately traded firm to trade shares on the NYSE. A decade later, while he served as the company CEO, he chaired similar decision-making sessions that saw the company delist from NYSE and agree to an acquisition proposal by Japan-based Softbank. Randal argues that the acquisition only serves to strengthen the investment firm’s base while assuring the investors that the banker will only play an oversight role while the founding team continues to run the investment firm.
Read more: https://www.fortress.com/about