Legal

Capital Alliance Appoints CEO, Looks to Reverse Losses 

Capital Alliance Income Trust Ltd., a residential mortgage REIT, today announced it has unanimously approved its transition to a “Self Advisedâ€? REIT and the unanimous appointment of Richard J. Wrensen as President and Chief Executive Officer. “CAIT needs to focus on reversing its losses, creating earnings, restoring the dividend and enhancing shareholder value,” Wrenson said. “Our success will require strategic changes to our existing business model, investment policies and a tremendous amount of hard work.â€?