Richard D. Baum has been elected as chairman of Redwood Trust, the Mill Valley, Calif.-based real estate investment trust which is the only current consistent issuer of private-label MBS. Baum replaces company co-founder and former CEO George E. Bull III, who left the position on Sept. 18.

Baum, whose background is in the insurance industry, is currently president and managing partner of Atwater Retirement Village. Until now, he had been Redwood’s presiding director and chairman of the governance and nominating committee.

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