CIT, a division of First Citizens Bank, named Randy Lederman a managing director for business development activities across the Northeast for CIT Northbridge Credit, a joint venture advised by CIT Asset Management.
Based in New York, Lederman will be responsible for sourcing new asset-based loan opportunities from $15 million to $150 million with business borrowers across a range of credit profiles.
“We are pleased to welcome Randy to our team of alternative asset-based lenders,” Neal Legan, who leads the CIT Asset Management team advising CIT Northbridge Credit, said. “Randy is a proven financial services professional with an outstanding track record of supporting clients and developing new business opportunities. We look forward to his contributions as we continue to build the CIT Northbridge portfolio of asset-based loans.”
Lederman has more than 20 years of experience providing financial solutions to mid-market companies across an array of industries. Prior to joining CIT, Lederman served in senior asset-based lending origination roles with Great Rock Capital, Alostar and Cowen & Co. Lederman is a member of the Association for Corporate Growth, the Turnaround Management Association and the Secured Finance Network.