CIT Expands Equipment Finance Division

JACKSONVILLE, Fla., Oct. 2, 2017 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT), a leading provider of commercial lending and leasing services, today announced two key appointments to their Equipment Finance division in support of industrial market segment growth.

Mike Edwards has joined the Business Development team and will be responsible for new finance programs with manufacturers in the construction, agriculture, material handling, and transportation segments. He will report to Vince Mollica, senior vice president of Business Development.

"Edwards brings 20 years of experience and a strong track record of success in establishing new finance programs for manufacturers in the industrial market," said Mollica. "By leveraging CIT's FlexAbility™ product that delivers industry-leading deal structuring and invoicing capabilities, Edwards will help manufacturers accelerate growth and enhance the customer experience."

Jennifer Houck has also been hired to originate and manage dealer and distributor relationships in the Western territory. She will report to Harold Ray, industrial commercial leader.

"Houck's decade of experience in the equipment finance space will enhance our team's capability to structure commercial finance programs for both new and existing manufacturers and distributors," said Ray. "The addition of Houck to the Western states team completes our current sales coverage nationally."

Edwards joins CIT from EverBank Commercial Finance where he worked as a business development manager overseeing industrial and transportation vendor programs nationwide. Houck joins CIT from Xtreme Financial Services where she served as the executive finance manager and was responsible for a captive global finance operation for the fourth largest US equipment rental company.

About CIT

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.

For more information visit cit.com. View our corporate video and follow us on Twitter, LinkedIn, YouTube and Facebook. Register to receive press releases at cit.mediaroom.com/email-alerts.

CIT MEDIA RELATIONS:               
Olivia Weiss                                       
212-771-9657                         
[email protected]                               

SOURCE CIT Group Inc.

Related Links

http://www.cit.com