Richard J. Wrensen has been named president and chief executive officer of Capital Alliance Income Trust Ltd., a real estate investment trust based in San Francisco.The board of directors of the mortgage REIT, a specialty residential lender, also unanimously approved the company's transition to the status of a self-advised REIT. The company said its move to self management has resulted in "significant transition and termination expenses." The REIT's former adviser received a termination payment of approximately $500,000, CAIT reported. The company estimated that its net loss for the year will exceed $900,000, including one-time transition and termination expenses. CAIT can be found on the Web at http://www.calliance.com.

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