Financial Services

SoftBank absorbs Fortress in multi-billion dollar deal

Fortress Investment Group LLC is now a subsidiary of SoftBank Group Corp as of December 28th 2017. In a deal for $3.3 billion in cash the Japanese based technology investment company will now reflect all of Fortress Investment Group LLC’s financial information under SoftBank moving forward. The deal also includes buying of Fortress Investment Group’s Class A stocks at $8.08 per share, which turns out to be 39 percent higher than the stock price at the close of the bell on Fortress Investment’s last day of trading. Fortress Investment Group LLC (FIG) was removed from the New York Stock Exchange.

SoftBank Group Corp is an international enterprise holdings firm, who began to really grow during the mid-90s. SoftBank Group started Yahoo Japan in 1996. SoftBank invested $20 million in Alibaba in 2000, and by 2014 when Alibaba went public, that investment ballooned into $60 billion. Some economist regard SoftBank’s investment in Alibaba as one of the greatest ever. SoftBank acquired Vodafone Japan, on March 17th 2006. In 2008, SoftBank partnered with Tiffany & Co. to make a limited cellphone of only 10 models. SoftBank, in February 3, 2010 bought 13.7% of Ustream. By January 2013, SoftBank acquired eAccess, one of its competitors. SoftBank invested $210 million in OlaCabs, in October 2014, and $627 million in Snapdeal. SoftBank invested, November 2014, $100 million in housing.com. SoftBank also helped design a robot with Aldebaran Robotics In 2016. More Businesses at Fortress on fortress.com

SouthBank founder Masayoshi Son, assures the acquisition of Fortress Investment Group will not interfere in the way the company has ran to this point. 1998, Wes R. Edens, Randy Nardone and Rob Kauffmann founded Fortress Investment Group LLC in 1998. Today the excutives of Fortress are Wesley Edens, Randy Alan Nardone, and Peter Briger. Wes R. Edens, co-founder of Fortress, in 1984 earned his Bachelors of Science in Finance and Business Administration from Oregon State University. Lehman Brothers is where Mr. Edens began his career in finance and investments from 1987 to 1993. Mr. Nordone, has a J.D. from Boston University School of Law and Bachelors of Arts in English and Biology, both from the University of Connecticut. Randy Alan Nardone (Randy JD) has been Chief Executive Officer and COO since 2013. Randy is also Principal of Fortress Credit Corporation, and President and Chairman of Springfield Financial Holdings, LLC. Randy is also Director of Fortress Credit Corporation and Springleaf REIT Inc, a position he has held since May 2011.

Peter Briger is Chairman of the Board of Directors at Fortress Investment and elected Co-Chairman in 2009. A Princeton University alumni, Peter Briger is a former partner at Goldman Sachs and serves on the Global Control and Compliance Committee and Asian Management.

Fortress Investment Group LLC will continue to work as a private independent company within SoftBank, and will continue following the business models and practices that has made them one the most successful buyout companies ever. Related: A Force of Innovation: Two Decades of Fortress Investment Group

Why Mike Nierenberg Makes A Great CEO

Mike Nierenberg is the CEO of New Residential Investment Corporation (NR). He has experience working in mortgage loan investment markets. Nierenberg has held the position of Managing Director at Global Mortgages and Securitized Products at Bank of America and Merrill Lynch. By holding the position, he was able to gain experience with sales and trade activity. In 2018, He led NR to purchase over $114 billion in mortgage servicing rights(MSR).

Mike Nierenberg help create a liquid market for MSRs. He was the driving force behind New Residential’s using Fannie Mae and Freddie Mac MSRs throughout the United States. He makes investments and residential mortgage-backed securities (RMBS). He understands how to used residential mortgages. He has led his company to take advantage of using MSRs, and by having the qualifications to acquire MSRs throughout the United States is a smart business move on behalf of NR.

Mike Nierenberg leads a company that is considered a Real Estate Investment Trust. The company is valued at $6.7 billion dollars. It was once owned by Newcastle Investment corporation, but it would operate on its’ own beginning in 2013. Mike Nierenberg would prove to be a good leader, and he has taken challenges and positioned the company in a manner that would allow them to make very good investments regarding residential Mortgages. Mike Nierenberg has been the CEO since 2013.

To know more visit @: www.corporationwiki.com/p/ia2v9/michael-nierenberg

Paul Mampilly in the Wall Street

Paul Mampilly is a leading investor in the world. He has a reputation of being one of the most successful investors in the Wall Street. He has spent over two decades in the Wall Street making money for the super-rich. At the peak of his career in the Wall Street, he was a hedge fund manager. He, however, started as an assistant portfolio manager for an organization known as the Bankers Trust. He grew his career through different levels and even worked with banks before joining the hedge funds.

Mampilly no longer works in the Wall Street but his achievements working here are still sound. He helped his hedge fund- Kinetics Asset Management- to make the biggest returns. From $6 billion to $25 billion was a huge achievement which got the hedge found featured on the Barrons.

He also left the Wall Street having proved that he was the best investor and trader. He won a competition that was organized by the Templeton Foundation. The competition which brought together the best traders in the Wall Street wanted to prove who the best among the best was. Each trader was given $50 million and the one to make the biggest return would be declared the winner. Paul Mampilly emerged the winner after returning $88 million, equivalent to 76 percent.

Paul Mampilly left the Wall Street because he felt that he was only helping a few American who were wealthy enough to afford a good life. However, millions of Americans were struggling to make money yet he would share his knowledge with them and assist them in making some.

Mampilly retired from the Wall Street and embarked on a process of helping the Main Street Americans who do not have the benefits of being in Wall Street. He launched a newsletter known as the Profits Unlimited which he would use to pass on information about valuable stick investments to his followers. The newsletter is published by the Banyan Hill Publishing where he is working as a senior editor.

Paul Mampilly is still a respected man in the financial sector; he appears on business media such as CNBC and Bloomberg to share his opinion on various financial matters.

For More info: www.talkmarkets.com/contributor/Paul-Mampilly/

Michael Burwell’s New Appointment At Willis Towers Watson

Michael Burwell is a professional accounting professional. The accounting expert will now work as a Chief Financial Officer for Willis Towers Watson. This post had previously been held by Roger Millay who is now retiring.

 

The company which deals with insurance and reinsurance broking specialists stated that it was elated with the decision of having Michel Burwell in their team. John Haley who is the company’s Chief Executive Officer expressed his confidence in Mr. Burwell’s being qualified for the job, due to his expertise on a number of issues including; transactions, finance, and transformations. He stated that Michael Burwell is great at driving results, has excellent management skills and will be a great asset in generating long-term growth of the company.

 

Willis Towers Watson is a global company that has over 40,000 personnel working in 140 countries. The advisory broking and solutions company that is based in London offers solutions to institutions and people with a desire to cultivate talent, optimize benefits and manage risk in a bid to improve business performance.

 

ABOUT MICHAEL BURWELL:

Michael Burwell has 31 years’ experience in handling professional services and finance. He gained his experience working with PricewaterhouseCoopers (PwC) where he held several positions which include; heading the Global Transformation department, CFO and Chief Operating Officer among other senior positions. Michael Burwell has also worked for 12 years in the transaction service advisory and 11 years in audit, valuation, and pre-merger. Michael Burwell expressed his gratitude for being selected for the position. While stating his desire to contribute to making the company a success, Michael Burwell stated that he admired the power of direction and leadership in the company, its dedication to customers and the collaborative culture.

 

Michael Burwell began his career in PwC by working in Detroit handling transaction services. Following his tremendous success and transformational leadership, Mr. Burwell was selected to oversee the PwC central region and became the US transaction services Leader. In 2012, Global and U.S Transformation appointed Michael Burwell to another role. Mr. Burwell then played an integral role in optimizing organizational effectiveness in managing internal function such as; finance and global strategic sourcing. Find More Information Here.

 

The excellent financial expert studied for a Business Administration Bachelor’s degree at the Michigan State University in 1986 and he graduated. The Chief Financial Officer was rightfully named alumnus of 2010 by the Michigan State University during that year. Michael Burwell is also a Certified Public Accountant.

 

Visit: https://www.quora.com/profile/Michael-Burwell-5