Owens Realty Mortgage in Walnut Creek, Calif., has promoted its chief financial officer, Bryan Draper, to chief executive and president.
Draper, who also served as the company's treasurer and secretary, succeeded William Owens, who will remain the company's chairman.
During Owens' tenure as president of the company, he guided it as it transitioned to become a real estate investment trust listed on the New York Stock Exchange in 2013.
Draper joined Owens Financial Group, ORM's manager, in 1987 as chief financial officer. He became chief financial officer of ORM in May 2013 and also joined its board that year.
"I am honored and grateful that the board and Bill Owens have put their faith in me to lead ORM forward," Draper said in a Jan. 6 news release. "I am excited to work with the ORM team to continue the plan set forth by Bill and the board to transform the company away from real estate investments acquired during the economic downturn by successful sales of properties and reinvestment into quality mortgage loans."
In Draper's place, ORM has appointed Melina Platt as chief financial officer and treasurer. She previously served as Owens Financial Group's controller. The company also named Daniel Worley as its next secretary. Previously, he served as senior vice president and assistant secretary.
