1031 Exchange Names New CEO

1031 Exchange Options has tapped Jim Noack, the founder and president of Monument Mortgage, for the position of chief executive officer.The Lafayette, Calif.-based 1031 Exchange Options works with investors who want to "convert their investment property holdings into a tenancy-in-common investment," the company said. Mr. Noack, who joined the company in May, will help manage the company's growth. David Waal, the company's former CEO, is taking over the position of managing director, and he will focus on business development. "The company's growth has exceeded the original forecast and is accelerating at a 300% year-over-year growth rate," said Cary Losson, founder and president of 1031 Exchange. Mr. Noack "will facilitate this rapid growth and further expand the company's national presence," he said.