First Citizens Bank Names Jim Hudak as President of CIT Commercial Finance

NEW YORK, June 5, 2023 /PRNewswire/ -- First Citizens Bank today announced that it has named noted commercial banking executive Jim Hudak as president of its CIT Commercial Finance group, a division of First Citizens Bank, effective immediately.

With more than 20 years as a commercial finance executive, Hudak is known throughout the industry for his leadership capabilities and strong commitment to customer support and satisfaction.

It is a return of sorts for Hudak, who oversaw CIT's commercial finance businesses from 2008 to 2019 when they were managed by CIT Group Inc., which merged with First Citizens Bank last year. Under Hudak's oversight and leadership, many of those businesses grew to become leading lenders in their industry verticals.

"It's a pleasure to welcome Jim back and to leverage his experience and deep industry knowledge as First Citizens Bank continues to expand its commercial lending and relationship banking expertise," said First Citizens Bank President Peter Bristow.

"Jim is a proven leader with a strong track record of supporting his bankers in serving middle market clients across a wide range of market sectors," Bristow continued. "We are pleased he has accepted this critical role and look forward to his accomplishments in leading the next leg of our growth journey."

"I am thrilled to join First Citizens Bank and to work with many of my former colleagues and many new ones as well," said Hudak, who will report to Bristow. "Strong relationships with clients have always been the keystone of our business model. As part of First Citizens Bank, the opportunities ahead are greater than ever."

During his career at the former CIT, Hudak held several roles of increasing responsibility. Immediately prior to becoming president of commercial finance in 2008, he served as senior managing director of the company's communications, media and entertainment business.

Hudak is a graduate of Bucknell University and holds an MBA from Cornell University.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., and now celebrating the 125th anniversary of its founding, First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 550 branches in 23 states and commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Discover more at firstcitizens.com.

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SOURCE First Citizens Bank