Daily News: May 31, 2012

WSJ: CIT Angling to Steal Share From Big Banks


The Wall Street Journal reported that more than two years after emerging from bankruptcy, CIT is no longer shy about its aspirations to wrangle more financing deals from competing lenders like Wells Fargo and GE Capital.

WSJ quoted Neil Wessan, who joined CIT earlier this month as managing director and group head of capital markets, as saying, “This firm for a period of time was not as aggressively marketing itself for obvious reasons and now is in a position where it can.”

The article noted that a chief goal for Wessan will be to help CIT increase its share of “lead agent transactions,” citing Pete Connolly, co-head of CIT’s corporate finance group.

To read the Wall Street Journal story, click here.

Previously on abfjournal.com:

CIT Appoints Wessan Group Head of CIT Capital Markets, Wednesday, May 23, 2012