Lou’s strong sales skills, credit expertise, deal structuring ability and demonstrated leadership capabilities will add great value to our organization
NEW YORK--(BUSINESS WIRE)--CIT Group Inc. (NYSE:CIT), cit.com, a leading provider of commercial lending and leasing services, today announced the appointment of Louis Barone as Managing Director, Northeast Regional Sales Manager of CIT Commercial Services, a leading provider of factoring services in the United States. He will report directly to Marc Heller, Executive Vice President, Northeast Regional Manager and International Manager of CIT Commercial Services.
“Lou’s strong sales skills, credit expertise, deal structuring ability and demonstrated leadership capabilities will add great value to our organization,” said Jon Lucas, President, CIT Commercial Services. “He will build upon his deep industry experience and CIT’s standing as a leading provider of factoring solutions to spearhead our efforts to grow new factoring and lending business in the northeastern United States.”
Barone has many years of experience working to meet the financial needs of the consumer products sector. He joins CIT from Israel Discount Bank (IDB), where he was Senior Vice President, Head of IDB Factors since 2010. Prior to joining IDB, Barone held various management positions at several financial institutions, including GMAC Commercial Finance and HSBC Business Credit. He also previously served as Vice President, Business Development at CIT.
About CIT Commercial Services
CIT Commercial Services is one of the nation’s leading providers of factoring and financing to consumer product companies. We tailor business credit solutions that help companies increase sales, improve cash flow, reduce operating expenses and eliminate customer credit losses. Our clients are vendors that sell to a broad range of public and private retailers, wholesalers and distributors across the nation and abroad.
Founded in 1908, CIT (NYSE:CIT) is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender), has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle market companies across more than 30 industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. cit.com