Daily News: July 19, 2012

CIT Appoints Ruf Managing Director, Commercial & Industrial

CIT said it appointed David Ruf as managing director, CIT Commercial & Industrial. Ruf will be responsible for providing capital financing solutions and advisory services to clients primarily in the chemicals, plastics and materials sectors. He will report directly to Burt Feinberg, group head of CIT Retail Finance and CIT Commercial & Industrial.

“David’s expertise in the chemicals sector will help us to establish CIT as a leading financial services provider to middle market companies in the sector,” said Mr. Feinberg. “His experience in sourcing capital financing solutions and providing advisory services for our clients will be important as we build our presence in the chemicals and materials arena.”

Ruf joined from HSBC, where he was a managing director in the Global Chemicals group, and was previously with Deutsche Bank. He is based in New York.

CIT Commercial & Industrial provides financial and advisory solutions to middle-market manufacturing, distribution and service companies in a wide array of industries including financial services, automotive suppliers, metals, chemicals, food & agriculture and retail businesses.