Ranked at number 557 in Forbes Billionaires List with an estimated worth of $1.8 billion, Randal Nardone has spectacularly risen through the ranks. From a humble background to being the current CEO of Fortress Investment Group, his journey is quite remarkable.Randal Nardone started out with his studies. He is a graduate from the University of Connecticut with a Bachelor of Arts in English and Biology and also Boston School of Law where he obtained his law degree.He has had a respectable career at Fortress spanning about two decades. However, before Fortress, he served in some reputable institutions holding several positions. He has worked at Blackrock Investment Management where he probably got the experience in the hedge fund industry that has shaped his career at Fortress.
Furthermore, he practiced his law skills when he served as a partner and member of the executive committee at Proffitt and Wood law firm. His last stint before Fortress was over at Union Bank of Switzerland. At UBS, he was their MD which was a critical position. His job there lasted for only a year. He left the bank in 1998. The year 1998 was probably when his big moment came. He together with four other colleagues started Fortress Investment Group. The journey of the hedgefund firm is fantastic. From the small investment firm, the company has risen such that now it manages for its client’s assets worth about $65 billion. At Fortress, Randal Nardone has had stints in some positions over the about twenty years he has been at the firm.
All have been successful, and this can be mainly attributed to his expertise, studies and the experience he had at other institutions before founding Fortress. He was elected to the Board of Directors for the hedge fund business in 2006, and he has held the position ever since. At the moment he also serves as the head of the firm’s legal and finance matters besides being its CEO. He held the CEO post since 2011. Initially, it was on an interim basis, but he took the position on a more permanent basis in 2013. His leadership, though together with his colleagues, has led Fortress to success.The growth of the firm to it current financial position speaks highly of this. Additionally, Randal Nardone has created a conducive atmosphere at the firm such that employees rate it so highly and recommend the place for employment.