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Michael Nierenberg is the current CEO and president of New Residential, a publicly-traded real estate investment firm based in New York. Nierenberg has maintained his role at New Residential since 2013 when the firm was founded. As the leader of a large organization, Nierenberg emphasizes the importance of teamwork and working with individuals who are highly specialized. With Nierenberg's guidance, New Residential has grown to become one of the largest real estate investment firms in New York. Michael Nierenberg's Background Michael Nierenberg began his career by working for seven years at Lehman Brothers before starting his 14-year tenure at Bear Stearns. At the time, Bear Stearns was a highly respectable bank that was seen as one of the most prestigious firms in New York. Nierenberg started by working on the trading floor before working his way up to more senior positions. Eventually, Nierenberg was appointed as the head of interest rates at Bear Stearns. He also worked as the company's head of foreign exchange trading operations. High-Level Positions at Bear Stearns As Nierenberg proved himself as a capable leader, he was appointed to more senior positions. Nierenberg's first top-level position was as the co-head of structured products at Bear Stearns. Structured products are financial instruments that enable investors to gain exposure only to specific elements of risk and return that are associated with security. In the area that Bear Stearns focused on, the work that Nierenberg did with structured products was critical for the survival of the company. Experience in Mortgage-Backed Securities Nierenberg also had the distinction of being the co-head of mortgage-backed securities at Bear Stearns when this area was the company's main focus. His work helped the company to maximize the performance of its mortgage-backed security portfolio. At the same time, Nierenberg worked as a member of the board of directors at Bear Stearns from 2006 until 2008. New Opportunities in Challenging Times After the market crash in 2008, Nierenberg leveraged the situation to transition to a leading role at Bank of America. Nierenberg functioned in his new role as the bank's head of global securitized products. Five years later, Nierenberg move to a new role as a founder of New Residential in 2013. Work at New Residential Nierenberg's experience at Bear Stearns and other leading banks enabled him to excel in his role as the president and CEO of New Residential. After his experience in seeing Bear Stearns collapse due to excessive exposure to a single asset class, Nierenberg understood the importance of diversification. Consequently, New Residential has been able to earn steady returns because it has branched into loan servicing, mortgage origination, and investments in a broad range of relevant subsidiaries. With Nierenberg's leadership, New Residential will continue to seek new opportunities to become one of the world's leading real estate firms.

Vanessa Ervin is a Chair at American Hospital Association, Board Member at Onslow Memorial Hospital, and Trustee at American Hospital Association and is based in D7730, Southeastern, North Carolina. She attended University of San Francisco and University of New Mexico.