Non-QM real estate investment trust Angel Oak Mortgage Inc. on Wednesday announced the departure of CEO Robert Williams. The company appointed Sreeni Prabhu, a managing partner at affiliate Angel Oak Capital Advisors, as the new president and CEO.

The leadership shakeup comes after two consecutive quarters of financial losses. Angel Oak Mortgage Inc., which went public last year, disclosed a net loss of $52.1 million in the second quarter and $43.5 million in the first quarter.

Prabhu will remain a managing partner and the chief investment officer at Angel Oak Capital Advisors and Williams will serve in an advisory role details ⇒

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