Redwood Trust Inc. (NYSE: RWT), a real estate investment trust, said Monday Diane L. Merdian has been named chief financial officer, effective in March, according to Associated Press.
Martin S. Hughes, who currently serves as president, co-chief operating officer, and chief financial officer, will serve as CFO until March. Hughes will continue to serve as president and co-chief operating officer thereafter.
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Separately, Jeffrey T. Pero has been elected to the board of directors. Merdian has resigned from her position as a board member.
Merdian previously worked as an equity research analyst focused on the banking sector. She also worked as bank strategist and senior bank research analyst of Keefe, Bruyette & Woods, where she was a managing director.
Shares rose 26 cents, or 1.9 percent, to $13.97, in afternoon trading.
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