Thornburg CLO to Retire

Joseph H. Badal will retire as senior executive vice president and chief lending officer of Thornburg Mortgage Inc., Santa Fe, N.M., effective Dec. 31.Mr. Badal, who will also leave his position as one of Thornburg's directors, will be succeeded as senior EVP and chief lending officer by Paul Decoff. Mr. Badal joined Thornburg as a founding director in 1993 and was named to his current positions in 2001, the company said. Mr. Decoff joined Thornburg in January 2007 after 13 years at Countrywide Financial Corp., where he was most recently managing director and chief operations officer at Countrywide Bank. Thornburg, a real estate investment trust, can be found on the Web at http://www.thornburgmortgage.com.