The Transformation of Fortress Investment Group to an Alternative Asset Business

In the investment industry, it is quite difficult to start a company, and within the first years of operations, the company’s portfolio surpasses that of the industry giants. This has happened for the currently leading investment management company, Fortress Investment Group. This company came into existence in the year 1998. The founders contemplated how they would build an exclusive type of company that they would use to collect funds from private equity. They would later invest the raised fund in cutting-edge capital vehicles that would produce more appealing investment returns for the clients. This idea seemed viable, and so they formed Fortress Investment Group. These investment gurus who worked on the formation of Fortress were Randal Nardone, Rob Kauffman, and Wes Edens.

Later in 2002, Kauffman retired from being a CEO and Chairman of the company. He was replaced by Peter Briger, an investment expert who had worked for so long at Goldman Sachs Company. His expertise in finance investment brought a very great impact to Fortress Investment Group. Within the first year after arriving, he transformed the company into an alternative asset management firm. This saw the company start managing a wider variety of asset strategies other than just private equity, which was the main strategy that the Fortress managed. This move helped Fortress to accumulate its asset value at a very high rate.

Fortress later announced its first initial public offer in the year 2007. This was a historical event that left many tongues wagging, both in the industry and in the general public. The public thought that Fortress Investment Group had taken a dangerous decision that could negatively impact their underlying assets. On the other hand, investment and portfolio managers from other similar companies realized that the bold move by Fortress was very tactful and so they decided to follow suit. Fortress Group was the first large alternative investment company to make such a move, globally. Fortress Investment Group is currently managing assets on behalf of its clientele who consist of more than 2000 clients. The clients are both individual investors (from the US and internationally), and institutional clients.Learn More.

How Michael Burwell Will Lead Willis Towers Watson Going Forward

Michael Burwell has become the new chief financial officer at Willis Towers Watson and this decision is expected to pay major dividends for the company in the years to come. He has the experience needed to take Willis Towers Watson to the next level.

After spending 31 years working with Pricewaterhouse Coopers LLP, he is ready to take the next step. Michael Burwell spent the past three decades working in a variety of different capacities for the company. He got his start working in the company’s assurance practice department.

It was at this time that Burwell developed the ability to learn more about the needs of specific clients. As someone who worked with audit clients from a wide range of backgrounds, these experiences gave him the chance to find out more and he spent 11 years working in this department of PwC.

Eventually, Pricewaterhouse Coopers LLP gave him the opportunity to join their partnership. He also started the company’s transaction services practice that was based out of Detroit. Thanks to Burwell’s efforts, the practice would soon grow to the point where he was entrusted with the company’s entire central practice.

In time, he was also given the chance to serve as the leader for the entire US Transaction Services sector. Michael Burwell would eventually become the company’s chief financial officer and was also named as the chief operating officer for the company’s United States offices.

These are the experiences that caused Pricewaterhouse Coopers LLP to choose him as the replacement for Roger Millay. Millay is credited for leaving the company in a better position than it was in when he first came aboard, and this is an objective that Michael Burwell is more than happy to try and emulate.

Michael Burwell’s experience with auditing and transaction services is going to be valuable to the company going forward. Michael Burwell has a strong level of knowledge in a number of different departments and Michael Burwell is going to be a key cog in the company’s evolution. He is viewed as one of the most important pieces in their eventual transformation and he is thrilled to have the opportunity.

Burwell is also impressed by the culture that the company has already established, and he is not looking to make any sort of major changes. The culture that is currently in place has driven the company to some of their biggest successes and Burwell is simply looking to contribute to future achievements. Go To This Page for additional information.