Redwood Trust in Mill Valley, Calif., has promoted its chief financial officer, Christopher Abate, to replace its departing president, Brett Nicholas.
Nicholas joined the $6.2 billion-asset company in 1996 and has been president since 2012. His resignation will come into effect on July 1.
"Over the past couple of years, Brett led the team that built our residential loan and capital markets platforms, which are nationally recognized for leadership, integrity and high quality," CEO Marty Hughes said in a March 28 news release. "His contributions will be missed."
The company is in the process of selecting a replacement for Abate, who will continue in his current role until it reaches a decision. Abate joined the company in 2006 and has been CFO since 2012. He was previously Redwood's controller and before that, worked as an auditor and consultant at PricewaterhouseCoopers.
