Tag Archives: Financial Planner

The Importance Of Randal Nardone’s Skills To The Growth Of Fortress Investment Group

Randal Nardone is among the pioneers of the Fortress Investment Group, an asset trading organization based in New York. In collaboration with his two partners, Wes Edens and Rob Kauffman, they founded Fortress investment in 1998 and has since become a force to reckon with in the industry across the world. Randal was made CEO from the beginning and has used his role to influence decisions that have driven the company to achieve immeasurable heights. The Forbes magazine ranked the investment mogul as the 557th wealthiest man in the world with a net worth of approximately $1.8 billion. Randal Nardone is a graduate of Connecticut University with a Bachelor’s degree in English with a minor in Biology. He is also a law degree holder from Boston University Law school. He started off as a legal advisor in Thatcher Wood and Proffitt before realizing his interest in financial investment.

Before becoming the managing director of the Union Bank of Switzerland (USB), he had taken up the role of a principal in Blackrock Financial Management firm. With all these financial experience, Mr. Randal felt confident enough to start up a company of his own. Today Fortress Investment group has provided over 2500 job opportunities to individuals who attest to the fact that he is a team player and an incredible leader. Besides his roles as chairman and co-founder of Fortress Investment Group, Randal Nardone serves in 8 other boards across 20 different industries. He is the chairman of Springleaf Financial Holdings and Springleaf Reit Inc. He was appointed the non-executive officer of Alea Group Holdings Bermuda and serves as the director of Euro castle investment Ltd and Florida East Coast Holdings.

Under his guidance, Fortress investment group has been recognized by different bodies for various awards like the Hedge Fund award of the year that was given to them by the institutional investor. In addition, the HFMWeek commended them for a job well done in asset management and crowned them with the best management firm of the year award. Despite of shining in the investment industry, Softbank Group acquired Fortress Investment group and consolidated its assets forcing them to withdraw from the New York Stock Exchange. In Randal Nardone’s opinion, this was a smart move considering they would acquire more holdings after their private equity assets started dragging and would be in a better position to create better opportunities for investors who would have regained their confidence in Fortress.

Wes Edens is both an entrepreneur and businessman

Wes Edens is one of the wealthiest people in America today. Many people know him because of his ability to run businesses and organizations to achieve success. The co-founder of a great company known as Fortress Investment has also served in other different roles. Apart from finance career, he owns teams like FlyQuest and Milwaukee Bucks. He attended school at the Oregon State University where he graduated with Bachelor’s degree in the field of Finance and Business.Straight from school, he began looking for a job to showcase his skills. He joined Lehman Brothers where he served as the managing director. He served the company for a six-year period where he acquired the knowledge and experience needed to manage businesses and invest his money correctly. He wanted to gain more skills, and this saw him work for another company called BlackRock Asset Investors and worked there for four years. He was also the managing director for the company.

After working with companies for years, he got the necessary skills to help him start his own company. He knew that he could know to manage a business without having to be employed. Wes Edens realized that by starting a company, he would make even more profits than being employed. That is how the idea of Fortress Investment Company came. He called other experts who had similar interests, and they came together to form a company that would later become one of the world’s leading investment company. With the skills, he had acquired from working with other companies and the effort of his partners the company achieved a lot of success. Fortress Investment company started from a humble beginning, but it has since grown to become a famous investment organization.

Wes Edens has continued to thrive in business even today and is one of the wealthiest people in the world having been listed in the 400 list by Forbes. He has also bought various assets making him even more successful in entrepreneurship. As the co-chairman of Fortress Company, he is tasked with helping the company to recover when it is falling in the stock market value.It was in 2014 when Wes Edens bought the Milwaukee Bucks team which plays for the NBA. It is said he paid $550M to buy the team and even said they would construct another arena for the team in Wisconsin. He is a serious investor and decided to also venture in the online gaming industry in 2017 announcing e-sport formation that would be under Fortress Investment Group.

Wes Edens, Chairman and Founder of Fortress Investment Group

Wes Edens is a renowned American basketball team owner, private investor and a successful businessman. He is one of the owners of The National Basketball Association and Milwaukee Bucks that he bought from Herb Kohl for $550 million in 2014.He received a B.S in Finance and Business Administration from Oregon State University in 1984. He began his career at a California bank before moving to Lehman Brothers as a partner and a managing director up to the year 1993.Between the years of 1993 and 1997, he again worked as a managing director and a partner at BlackRock’s private equity division In 1998, Wes Edens partnered with Michael Edward, Robert Kauffman, Peter Briger and Randal Nardone to establish Fortress Investment Group.On February 2007, he helped Fortress become the first publicly traded buyout firm. It was at this time too that Fortress assets under management included both private equity and publicly traded alternative investments.

Wes Edens became the Co-Chairman of the Board of Directors at Fortress in the year 2009. He also held the position of Chair at Fortress Transportation and Infrastructure Investors from May 2015 to May 2016.Running Fortress’s private equity business, he was involved in the purchase of subprime lender Springleaf Financial Services which was then called American General Finance. This made Fortress the Springleaf’s majority stakeholder and by 2015, the value of Springleaf had surprisingly grown to over $3.5 billion.This put the firm’s profits at more than 27 times Fortress’s initial investment value.He is also the chairman of Nationstar Mortgage, which was formerly referred to as Centex Home Equity Company, LLC, a subprime home equity mortgage lender that was acquired by Fortress for over $575 million in 2006.His “take-home pay” according to Bizjournals is at a staggering $54.4 million annually.

This includes his annual compensation from Fortress Investment group of about $13.4 million and $41 million in dividends he receives as a shareholder. He earns a salary of $200,000, almost $1.1 million in stock awards, an $11.6 million in bonuses and $478400 in other compensations.Wes Edens’s profile is nothing but impressive, he now controls a firm that executes investment strategies for more than 160 businesses around the globe in credit liquid markets, private equity, and traditional asset management.Started with just $400 million and 30 employees, Fortress now manages over $71 billion worth of assets and 1200 employees. Wes Edens is married to Lynn Edens and together they have 4 children. Apart from business, he is also interested in horse riding and mountain climbing.

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