Fortress Targets Japan and EMEA to Scale Private Wealth Business

Umino, based in Tokyo, joins from PIMCO Japan, bringing over 25 years of experience in local financial services. Bush, operating out of London, arrives from Nuveen, where he previously built the firm’s UK wealth business with a focus on private markets. Both report to global co-heads Adam Bobker and Nils Wilson.

Fortress launched its private wealth division in 2022 to provide high-net-worth individuals access to credit, real estate, and net lease strategies. The firm is betting on a market gap: while cash and deposits make up less than 10% of household wealth in the US, they account for roughly half in Japan and 40% in Europe. By deploying local leadership, Fortress aims to distribute its products through wirehouses, private banks, and independent advisors to capitalize on ongoing pension reforms and a generational transfer of wealth.