Navatto will be based in New York City and focus on business development across a wide range of business verticals supported by Commercial Services, including apparel, footwear, housewares, consumer electronics, health and beauty aids and more.
“Calvin is an experienced financial professional with the skills and experience to help grow our factoring and asset-based lending services across a variety of industries,” said Tom Fingleton, managing director and northeast regional manager for CIT’s Commercial Services unit.
Prior to joining CIT, Navatto served for nearly four years as a senior vice president in capital finance at UMB Bank. Earlier in his career, he worked in varying capacities at a number of financial institutions, including NewStar Business Credit, First Capital, Sun National Bank, Marquette Commercial Finance and Webster Business Credit.
Commercial Services, part of CIT’s Commercial Finance division, is one of the nation's leading providers of working capital solutions, factoring, credit protection, accounts receivable management and lending services to consumer product companies, manufacturers, dealers, importers and resellers.
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.