CIT Group named Chris Esposito managing director in charge of its newly expanded asset-based lending business. Esposito will be responsible for managing the asset-based lending team and overseeing the national ABL business.
Neal Harm joined CIT Group’s Commercial Services business as managing director overseeing strategy, business development and project management. He will report to Commercial Services President Marc Heller.
CIT Group named Joerg Obermueller as the managing director of the Supply Chain Finance business within the company’s Commercial Services division.
Marc Adelson joined CIT’s Commercial Services business as managing director and Northeast regional manager. Adelson joined from Monroe Capital where he was a managing director.
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.
Last January CIT Commercial Services named industry veteran Marc Heller president of the division, succeeding Jon Lucas. Heller responds to ABF Journal’s questions, provides insights into his personal experiences in factoring and offers some history of the industry and a look ahead.