First Citizens and CIT Receive Stockholder Approval to Merge

First Citizens BancShares, the parent company of First Citizens Bank & Trust Company, and CIT Group, the parent company of CIT Bank, jointly received stockholder approval to merge companies.

February 10, 2021 CIT | Ellen R. Alemany | First Citizens | Frank B. Holding Jr. Phil Neuffer

First Citizens and CIT to Merge

First Citizens BancShares, the parent company of First-Citizens Bank & Trust Company, and CIT Group, the parent company of CIT Bank, will combine in an all-stock merger of equals to create the 19th largest bank in the United States based on assets.

October 16, 2020 CIT Bank | CIT Group | Ellen R. Alemany | First Citizens BancShares | First-Citizens Bank & Trust Company | Frank Holding Jr. | Keefe Bruyette & Woods | Morgan Stanley | Piper Sandler | Smith Anderson Blount Dorsett Mitchell & Jernigan | Sullivan & Cromwell Phil Neuffer

CIT Chairwoman and CEO Alemany Receives Leadership Legacy Award

Ellen R. Alemany, chairwoman and CEO of CIT, received the Leadership Legacy Award from the Center for Executive Succession at the University of South Carolina’s Darla Moore School of Business Center.

October 8, 2020 CIT | Darla School of Business | Ellen R. Alemany | Patrick Wright | Peter Brews | University of South Carolina Ellie Delany

CIT Completes Sale of Wealth Management Business to FirstSun Capital Bancorp

FirstSun Capital Bancorp, through its subsidiary Sunflower Bank, acquired CIT’s trust and wealth advisory business, effective Sept. 1.

September 2, 2020 CIT Bank | CIT Group | Ellen R. Alemany | FirstSun Capital Bancorp | Mollie Carter | Sunflower Bank Phil Neuffer

CIT Wins Three Stevie American Business Awards

CIT Group won three Stevie American Business Awards for business excellence. The awards included a gold award for achievement in management – banking and silver awards for fintech solution and corporate social responsibility program of the year.

May 28, 2020 CIT | Ellen R. Alemany | Maggie Gallagher | Stevie American Business Awards Phil Neuffer

Hubbard Joins CIT as General Counsel

CIT Group named James R. Hubbard its general counsel and corporate secretary, effective March 18, 2019. Hubbard will join CIT’s Executive Management Committee and report to Chairwoman and CEO Ellen R. Alemany.

March 15, 2019 CIT Group | Ellen R. Alemany | James R. Hubbard Amanda Koprowski

CIT Reveals New Brand Identity; Direct Capital Brand to be Retired

CIT Group revealed a simplified and refreshed brand identity aimed at presenting a more cohesive market presence following a multi-year transformation of the company. The effort includes a new marketing campaign, tagline and website reflecting CIT’s consumer and commercial businesses.

November 16, 2018 CIT Group | Ellen R. Alemany Amanda Koprowski

CIT Names Former Pacific Life, Flying Tiger Exec to Board

Khanh T. Tran was appointed to the CIT board of directors. He will also serve on the board of CIT Bank. Tran’s background includes senior executive positions with Pacific Life, Aviation Capital and Flying Tiger Line.

July 20, 2017 CIT Board | Ellen R. Alemany | IT Group | Khanh T. Tran ABF Journal

CIT Completes Sale of Canadian Equipment Finance Business

CIT Group completed the sale of its Canadian equipment finance and corporate finance businesses (CIT Canada), with assets of approximately $700 million, to Laurentian Bank of Canada.

October 4, 2016 CIT Canada | CIT Group | Ellen R. Alemany | Laurentian Bank of Canada ABF Journal

CIT Appoints Alderoty EVP/General Counsel/Corporate Secretary

CIT Group appointed Stuart Alderoty executive vice president, general counsel and corporate secretary. Alderoty previously served as general counsel for HSBC North America Holdings.

September 14, 2016 CIT Group | Ellen R. Alemany | Stuart Alderoty ABF Journal