CIT Group named Joerg Obermueller as the managing director of the Supply Chain Finance business within the company’s Commercial Services division.

In his new role, Obermueller will be responsible for assembling a team, building new client relationships and developing strategies to address new target markets.

“We are pleased to welcome Joerg, an experienced supply chain finance executive, to CIT as we continue to build our capabilities to support customers and pursue new growth opportunities,” said Marc Heller, president of Commercial Services.

Obermueller most recently served as head of supply chain finance sales North America at Deutsche Bank New York. Earlier in his career, he worked in supply chain finance and factoring at Postbank, later acquired by Deutsche Bank.