You are using an outdated browser. Please upgrade your browser to use this site.

CIT Northbridge Names Business Development Leader for Western U.S.
Thursday, March 25, 2021 09:00 AM

NEW YORK — March 25, 2021 — CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, has named Sandy Thomson as a managing director for business development activities across the western United States.

Thomson, based in Los Angeles, will be responsible for sourcing new asset-based loan opportunities ranging from $15 million to $150 million. In most cases, these credit facilities will be available to business borrowers that may not currently fit the profile required by regulated institutional lenders.

Thomson’s appointment represents a strategic expansion by the CIT Northbridge business into the West, where it has not previously had a business development presence.

“We are pleased to welcome Sandy to our team of alternative asset-based lenders,” said Neal Legan, who leads CIT Northbridge. “Her outstanding credit and marketing skills, her solid reputation and her track record of success in supporting clients make her the perfect choice for this role. We look forward to her contributions to the team’s overall accomplishments.”

Thomson’s career has encompassed business financing on behalf of some of the largest and best-known lenders in the West. In her most recent post, she served as a senior vice president for loan originations at Wells Fargo Capital Finance. Earlier roles included lending positions at U.S. Bank Business Credit, LaSalle Business Credit and Fleet Capital.

A graduate of the University of Southern California, Thomson is a member of the Association for Corporate Growth, the Turnaround Management Association and the Secured Finance Network.

CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. A joint venture advised by CIT Asset Management, it provides revolving and term loan commitments from $15 million to $150 million to companies across various industries and business cycles, and serves primarily as sole lender, agent, club participant or co-lender.

About CIT
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.

 

MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran@cit.com