CIT Names Jones to Lead Business Capital, Lytle to Lead Rail

CIT named Mike Jones president of Business Capital, replacing Steve Solk who will focus on Consumer Banking. Jeff Lytle was named president of Rail, replacing George Cashman who will retire.

CIT Healthcare Agents $136MM Facility for CommuniCare

CIT Healthcare closed on a $136.9 million senior secured credit facility for CommuniCare Health Services comprised of a $121.9 million real estate term loan and a $15 million revolving asset-based line of credit.

CIT Supports White Oak in $550MM Transaction with GECAS

White Oak Global Advisors completed a $550 million transaction with GE Capital Aviation Services to buy and immediately lease back 20 wide body aircraft engines. CIT served as lead arranger in the transaction.

CIT’s OneWest Bank Names Ellison Head of Retail Branch Channel

Heather Ellison has joined OneWest Bank, CIT Group’s Southern California branch bank, as senior vice president and head of the retail branch banking channel. She succeeds Terri Decker, who has elected to retire in March of 2018.

CIT Adds Nunnari to West Coast Commercial Services Team

Nicholas Nunnari joined CIT’s Commercial Services team as vice president and business development officer.

CIT Agrees to Sell Financial Freedom and Reverse Mortgage Portfolio

CIT Bank reached an agreement to sell its reverse mortgage servicing business, Financial Freedom, and its reverse mortgage portfolio to an undisclosed buyer.

CIT Names McPhail EVP, Chief Strategy Officer

CIT Group named Kenneth McPhail executive vice president and chief strategy officer.

CIT Names MD, Adds Sales VP For Franchise Finance Division

CIT Group named Michael Vallorosi as managing director of its franchise finance business and Christopher Wren as a sales vice president of its restaurant franchise finance practice.

CIT Q1 Earnings from Continuing Operations Up 28%

CIT reported Q1/17 net income from continuing operations was $78 million, up 28% from $61.0 million a year earlier. Provision for credit losses in Q1/17 was down 44.5% from $89.5 million a year earlier.

Rosenthal Adds Yang as West Coast VP

Rosenthal & Rosenthal appointed former CIT VP Ying Yang as vice president responsible for business development with a focus on the firm’s West Coast client base.