NEW YORK, Oct. 3, 2017 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced the expansion of its commercial aircraft lending business. The new Aviation Lending team will be led by Jennifer Villa Tennity who rejoins CIT as president of the business, providing aircraft-backed loans to the commercial aviation industry. Villa Tennity will report to CIT's president of Commercial Finance, Jim Hudak who assumed the aerospace lending vertical with the sale of the commercial air operating lease business.
"CIT has deep expertise in asset-backed lending across commercial industries including aerospace," said Hudak. "We are pleased to have Jennifer leading this business as she has a successful history of servicing and originating aircraft loans which will add to the strength of CIT's aerospace finance capabilities."
Villa Tennity is also joined by Ryan Jasinski as director of originations and Matthew Hughey as vice president, both former CIT colleagues who specialize in aviation lending.
"CIT has a proven track record of finding financing solutions for our commercial aviation clients," said Villa Tennity. "We feel there is a real need for this product in the marketplace and I am excited to be leading the expansion of this area and growing the aviation loan portfolio along with Ryan and Matthew."
The new aviation team complements CIT's Aerospace, Defense and Government Services team, led by John Heskin, managing director, which is a leading provider of asset-backed revolving and term loans, acquisition financing and tailored capital market structures to the sector.
Villa Tennity has nearly 20 years of experience in the aviation leasing and lending space at CIT. During her tenure, she handled a myriad of duties including regulatory matters during CIT's transition to a bank. Villa Tennity was most recently senior vice president and chief risk officer of CIT's aerospace business, maintaining an $11 billion portfolio of aircraft loans and leases. She earned a bachelor's degree in economics and a certificate in political economics from Princeton University.
Jasinski was previously a vice president and Hughey previously an assistant vice president, both within the Financial Institutions Group of CIT's aerospace business. Jasinski earned a bachelor's degree in economics from Saint Peter's University and Hughey a bachelor's degree with a double major in finance and risk management & insurance from Saint Joseph's University.
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $50 billion in assets as of June 30, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A.
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SOURCE CIT Group Inc.