First Citizens Bank appointed Marc Cadieux, a 30-year veteran of Silicon Valley Bank, president of Silicon Valley Bank’s commercial banking business. Based in the California Bay Area, Cadieux will lead the SVB Commercial team of more than 1,000 bankers.
First Citizens Bank promoted Marc Heller to vice chairman of CIT Commercial Services, a subsidiary of First Citizens Bank, and Michael Hudgens to president of CIT Commercial Services with full responsibility for the day-to-day operation of the business.
First Citizens Bank named Jim Hudak president of its CIT Commercial Finance group. Hudak has more than 20 years of experience as a commercial finance executive and previously oversaw CIT’s commercial finance businesses from 2008 to 2019.
First Citizens Bank launched a middle-market banking unit to support the financial needs and goals of midsized businesses across the Southeast.
CIT reorganized its commercial services factoring business, with Marc Heller, president of CIT commercial services, now reporting directly to Peter Bristow, president of First Citizens Bank, and Michael Hudgens now leading commercial services as managing director and group head.