Talented people fuel Fortress Investment Group’s business model

Being a highly recognized, award-winning hedge fund is no easy accomplishment. This is why many in the investment and finance industry have kept their eyes on Fortress Investment Group, which was recently purchased by SoftBank Group Corporation for $3.3 billion. The acquisition made it the first publicly traded hedge fund to be acquired.

People behind the business

However, a successful firm is not just a lifeless business model. There are actual talented people fueling the success of Fortress Investment Group. Most notable are the three founders, Wes Edens, Randal Nardone and Rob Kauffman. Only Kauffman has since retired, while the other two founders remained involved in the management of Fortress. Learn more about the organization of Fortress at crunchbase.com

Wes Eden

As one of the three founders of Fortress Investment Group, Wes Edens brings a sense of leadership and a resume that not only includes experience in finance but also the professional sports industry. Edens has been involved in the professional sports industry since 2014 when he acquired the Milwaukee Bucks. He purchased the NBA team for $550 million.

Edens is also owner of FlyQuest which is a League of Legends team. FlyQuest is currently backed by Fortress Investment Group as it competes in the Northern American League of Legends Champions. Additionally, as owner of FlyQuest, Edens also financially backs eSports.

His approach to investing is characterized by looking for instruments which have been under some type of distress or has been out of favor by capital markets. Edens does not shy away from complexity. He is known to be able to apply comprehensive analysis in order to obtain returns from investing in fluctuating environments which are usually seen as challenging.

Randal Nardone

After becoming a founding member of Fortress Investment Group and a part of the firm’s Management Committee in 1998, Randal Nordone became the CEO of Fortress in 2013. Prior to officially taking the reins, Nardone was the interim CEO for more than a year. Before founding Fortress, he worked as managing director for UBS. Additionally, Nardone was a principal for BlackRock Financial Management.

More information about Fortress: https://www.fortress.com/about

GreenSky eases loan servicing for banks

GreenSky is a fintech that offers point-of-sale loan services to consumers. It has partnered with regional banks to provide loan services to as many people as possible. They have simplified the loan application process, by handling the paperwork needed from the consumer and the bank. They offer quick solutions to the needs of consumers who are in need of crucial services but have no cash to pay. If you are a homeowner and you need some home maintenance work to be done but you lack the money to pay, worry no more because GreenSky will facilitate instant financing of the project through the merchant.

The merchant will apply for a loan with the amount he will charge for the service. They will send relevant loan processing information to the fintech, which will on its part link the borrower with a lender willing to offer the loan. Once a lender is found, the loan is processed instantly. GreenSky has mainly been working with four regional banks namely Sun Trust, Synovus, Fifth Third, and Regions Financial

Regional banks are interested in consumer lending since it attracts high yields, but two obstacles hinder progress in this field. The cost involved in getting customers is too high and the servicing the loan can also be a nightmare. Through GreenSky, regional banks are getting better full benefits of consumer lending. The fintech brings the customers to them and it even facilities servicing of the loan. The role of the bank in the whole process is to offer the money to lend.

GreenSky does not offer interest on the loans as is the case with traditional banking. Customers who will pay back the loan in the agreed timeframe will get the benefit of not repaying even a single cent on top of the principal amount. It is GreenSky who take up the role of repaying the loan during the zero percent APR period. There are huge hopes on this company that it will perform very well in long-term. In the period that they have been in the industry, there has been consistent growth trend. In 2017, they recorded a 30 percent increase from the previous year.

https://www.crunchbase.com/organization/greensky

Manager And Business Leader-Michael Burwell

Roger Millay was the former Chief Financial Officer of Global Advisory insurance and reinsurance brokerage specialist Willis Towers Watson, during his retirement he was replaced by Michael Burwell in October 2017. Mike has a vast experience of more than 31 years. He began his career at PwC. While working at PwC he held several positions from being the Head of Transaction Services in the United States, Chief Operating Officer, Chief Financial Officer, as well as Head of Global Transformation in the United States of America. Mr. Burwell has experience in the financial industry and he has also experience in both audit, and transaction services advisory which runs for over 12 years.

 

John Haley is the Chief Executive Officer of Willis Towers Watson and in a statement, he released after the appointment of Mr. Burwell, he said he was thrilled with Michael’s appointed and that he has joined the organization at such an important time when the firm is experiencing change. Willis Towers Watson is lucky to hire Mike as he brings his skills in management, leadership as well as a strong focus on customers. John further said that their trust that Michael’s financial skills will help the organization’s long-term plans. Mr. Haley did not forget to than the former Chief Financial Officer for his contribution to the group. Mr. Burwell was also glad and thankful that he was given an opportunity to work with Willis Towers Watson and that he is looking forward to contributing to the organization’s endeavors. Get Related Information Here.

 

Michael Burwell is the current Chief Financial Officer at Willis Towers Watson. Prior to joining the firm, he served at PricewaterhouseCoopers LLP. At PwC Mike served at the insurance advisory department. He is a go-getter and while still working at PwC he climbed the career ladder and was appointed a partner at the group, and he had to move into PwC Detroit transaction business. Michael Burwell portrayed a positive leadership skill and in 2009 he was the Chief Financial Officer and the Chief Operating Officer of the firm.

 

After his High School graduation, Mike joined Michigan State University and he graduated with Bachelors’ Degree in Business Administration, and he is also a certified public accountant. Michael Burwell has also been recognized as the Michigan State University Alumnus of the year. Mike does not make decisions on his own instead he relies on other people in his organization to come up with a good business idea.

 

 

Visit: https://ideamensch.com/mike-burwell/