Willis Lease Finance's (WLFC - Get Report) finance chief Monica Burke will leave in January, saying she wants to spend time with her family.

The Sausalito, Calif., lessor of commercial jet engines said director of finance Robert M. Warwick will become chief financial officer effective Jan. 1.

"In the three and a half years I've worked with Willis Lease, I've greatly enjoyed working with the outstanding people here," said Burke. "I am very proud of the accomplishments we have achieved during my tenure, particularly the placement of the asset-backed securitization transaction."

The ABS transaction, completed in August, was the first of its kind to securitize a diversified portfolio of leased aircraft engines, and the first aviation-related securitization transaction since Sept. 11, 2001, to be issued without an insurer guaranty, the company said.

"We understand Monica's decision to leave for personal reasons, and believe the transition will be simple and orderly," said CEO Charles Willis.

On Tuesday, Willis Lease slipped 7 cents to $8.43.