Randy’s experience in helping build CIT Bank, his background in technology, consumer finance and commercial lending will play an important role as we continue to grow the assets and deposits of CIT Bank
NEW YORK & SALT LAKE CITY--(BUSINESS WIRE)--CIT Group Inc. (NYSE: CIT), a leading provider of financing and advisory services to small businesses and middle market companies, today announced the appointment of Randall (Randy) Chesler as President ofCIT Bank, its U.S. commercial bank subsidiary. He will be based in Salt Lake City, Utah, and report to CIT Bank’s Board of Directors. Mr. Chesler is currently Vice Chairman of CIT Bank and previously served as President of Consumer Finance and Small Business Lending at CIT. He succeeds John Taylor who will assist in the transition and pursue opportunities outside CIT Bank.
“Randy’s experience in helping build CIT Bank, his background in technology, consumer finance and commercial lending will play an important role as we continue to grow the assets and deposits of CIT Bank,” said Raymond J. Quinlan, Executive Vice President, Banking of CIT Group Inc. “I also want to thank John for his efforts over the past several years in helping to grow CIT Bank. I look forward to continuing to work with Randy in the future and wish John the very best in his future endeavors.”
Mr. Chesler has more than 25 years of leadership experience in the financial services and high-tech industries. Before joining CIT, he served as President and CEO of Size Technologies Inc., a consumer payments software company based in San Francisco. Before Size, he was General Manager of the U.S. Card business and General Manager of Associates National Bank at Associates First Capital Corporation and served as Executive Vice President at Visa U.S.A., where he was responsible for member banks. Prior to Visa, he was an executive at Citibank, where, during the course of over a decade, he held a variety of senior line and staff positions. He is a past member of the American Financial Services Association Board of Directors, and is active in the Children’s Circle of Care, a group dedicated to the support of the leading children’s hospitals in North America. He received a BS in Business Administration and Psychology from the State University of New York.
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About CIT Bank
Founded in 2000, CIT Bank (Member FDIC, Equal Housing Lender) is the U.S. commercial bank subsidiary of CIT Group Inc. (NYSE: CIT). It provides lending and leasing to the small business, middle market and rail sectors. Through its online bank, BankOnCIT.com, CIT Bank offers a suite of savings options designed to help customers achieve a range of financial goals. As of June 30, 2013, it had $11.1 billion of deposits and $13.9 billion of assets. cit.com/CITBank
Founded in 1908, CIT (NYSE:CIT) is a bank holding company with more than $35 billion in financing and leasing assets. It provides financing and leasing capital and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance,aerospace, equipment and rail leasing, and vendor finance. CIT operates CIT Bank (Member FDIC), its primary bank subsidiary, which, through its online bank BankOnCIT.com, offers a suite of savings options designed to help customers achieve a range of financial goals. cit.com