CIT Announces Senior Management Appointments- Ellen R. Alemany Appointed Chief Executive Officer and President of CIT Bank, N.A.- Robert C. Rowe Appointed Chief Risk Officer- Steve Solk Appointed President of CIT Business Capital- Kenneth A. Brause Appointed TreasurerTuesday, December 8, 2015 04:30 PM
NEW YORK--(BUSINESS WIRE)--CIT Group Inc. (NYSE:CIT), a leading provider of commercial lending and leasing services, today announced the following senior management appointments:
Ellen R. Alemany has been appointed Chief Executive Officer and President of CIT Bank, N.A. effective immediately. Alemany is Vice Chairman of CIT Group and, as previously announced, will become the Chief Executive Officer of CIT Group on April 1, 2016. Alemany has been a member of CIT Group’s Board of Directors since January 2014 and is also a member of the Board of Directors for CIT Bank, N.A. Alemany is the former Head of The Royal Bank of Scotland (RBS) Americas, which oversaw RBS’s businesses in the Americas. She also served as Chairman and Chief Executive Officer for RBS Citizens Financial Group, Inc. Prior to RBS, Alemany served as Chief Executive Officer for Global Transaction Services of Citigroup.
Robert C. Rowe has been appointed Executive Vice President and Chief Risk Officer. In this role he will oversee the Company's Risk Management Group, including Credit Administration, Enterprise Risk, Compliance and Credit Review. Rowe has been with CIT for five years. Previously, he served as CIT's Chief Credit Officer. Before that he was employed by National City Bank as its Chief Credit Officer after spending 20 years in various roles of increasing responsibility in its Corporate Banking and Credit departments.
Steve Solk is joining CIT as President of CIT Business Capital with responsibilities for CIT’s Direct Capital, Capital Equipment, Equipment Finance, and Commercial Services businesses. Previously, Solk was an Executive Vice President of Commercial Finance at RBS Citizens Bank and a member of Citizens' Executive Leadership Group. He was responsible for four commercial banking specialty businesses, which included Franchise Finance, Business Capital, Asset Finance and Commercial Real Estate.
Kenneth A. Brause has been appointed Executive Vice President and Treasurer. Brause has been with CIT for eight years. Previously, he was Executive Vice President and Chief Financial Officer for CIT’s North America Banking segment and, before that, Head of Investor Relations. Before joining CIT, Brause spent more than 20 years in various financial roles at several major financial institutions.
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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
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