CIT Commercial Services, a wholly-owned subsidiary of First Citizens Bank, closed a non-recourse factoring arrangement and $8 million senior secured facility for a Los Angeles-based company that sells men’s and boys’ clothing to retailers.
CIT Commercial Services, a subsidiary of First Citizens Bank, completed a $50 million factoring facility with a West Coast consumer technology firm.
CIT hired Howard Moore and Paul Pagano as business development directors in the Northeast and promoted Michael Rayner to director and team leader in the West for its commercial services business.
CIT named Christopher DeRosa a business development officer in the West Coast office of its commercial services business. DeRosa will focus on business development across a range of verticals supported by CIT’s commercial services business.
Nicholas Nunnari joined CIT’s Commercial Services team as vice president and business development officer.
CIT Commercial Services appointed Darrin Beer as western regional sales and portfolio manager. Beer has served with CIT since 1999, when it acquired the factoring portfolio of Heller Financial.