CIT’s equipment finance business, which is part of the company’s business capital division, hired new business development leaders for the Northeast, West and Southwest regions.
Wayne Wagner, Mark Johnson and JP DeStefano joined CIT as vice presidents for business development on the industrial team. They will be responsible for developing dealer relationships throughout the Northeast, West and Southwest regions, respectively. Wagner, Johnson and DeStefano will report to Harold Ray, who directs industrial finance for CIT’s equipment finance business.
“Industrial companies depend on bankers with the agility and expertise to provide the financing they need to compete and grow,” Ray said. “I am pleased to welcome Wayne, Mark and JP to our team of experienced equipment finance professionals.”
Wagner joined CIT after most recently serving as a vice president in the equipment finance division at Bank of the West. He has experience working with the construction and material handling industry sectors. Earlier in his career, he was a vice president in middle market equipment finance for TCF Leasing.
Johnson joined CIT from ENGS Commercial Finance, where he served as national program manager. He has more than 15 years of experience in industrial financing, having worked with both ENGS Commercial Finance and Bank of the West.
DeStefano most recently served as national sales manager at Summit Funding. He has more than 10 years of industrial financing experience, having earlier worked in business development positions with Equify Financial and Ritchie Bros.
