While his popularity has not yet made him a household name, very few people within the global financial industry are unaware of who is Randal Nardone. Randal Nardone is a 51-year-old New York based investment specialist who is one of the founders of Fortress Investment Group. Randal’s path to the finance sector is quite unorthodox.
He graduated from the University of Connecticut with a Bachelor of Arts/Science undergraduate. He followed up with a postgraduate doctor of jurisprudence from Boston University. As a trained lawyer, his first high profile job was as an executive in the prestigious law firm Thatcher, Proffitt and Wood.
By all indications, Randal was a brilliant lawyer who was on the path to being made partner within a few years. But he found out that his real passion was in the world of finance. This led him to quit his prestigious job as a lawyer and joining the investment management firm, Blackrock. He eventually became one of the principals at Blackrock before leaving to join UBS as a Managing Director.
Despite no formal financial training, Randal Nardone immediately stood out as having a good nose for profitable investment options. In 1998, together with Wes Edens and Rob Kaufman, he co-founded the Fortress Investment Group. While Edens and Kaufman had been distinguished financiers in their own right, Nardone was immediately identified as the main leader, taking on the CEO position within Fortress Investment Group. This is a position that he held until the sale of Fortress to the Japanese Conglomerate, Softbank.
While a lawyer making it big in the financial world is not such an oddity, Randal Nardone distinguishes himself as being one of the driving forces behind Fortress Investment Group’s unorthodox investment strategy. The firm chose to focus on alternative investments, rather than have a one dimensional focus on the capital markets. This has been the reason for the The fact that Softbank kept Nardone on as a principal after their acquisition of Fortress Investment Group is a testament to the importance of his role as the driver of profitability with Fortress. Meet Fortress Investment Group’s Ex-Billionaire Interim CEO