Fortress Investment Group has appointed David Barry as a member of the company’s board, effective 1 January 2011.

Barry will serve as a class I director.

The board has also appointed Barry to its audit committee and nominating, corporate governance and conflicts committee.

Barry will replace Howard Rubin, who will resign from the board, as well as the audit committee and the compensation committee, effective as of 1 January.

The board of directors has also elected not to pay a dividend in the fourth quarter of 2010. The board elected to retain capital for potential future investment opportunities and for working capital purposes.