Ronan, who was also promoted to senior vice president, will be based in New York and will oversee business development within Capital Equipment Finance for both the direct and indirect sales channels.
"During his time at CIT, Kevin has demonstrated outstanding customer focus and commitment to client satisfaction," said David Harnisch, president of CIT's Commercial and Real Estate Finance division. "His expertise in origination and sales management will help drive the continued growth of the business."
"CIT has a very strong reputation as an industry leader in both leasing and financing of capital equipment," Ronan said. "Our entire team looks forward to continuing to build on that legacy to better serve new and existing customers with the financial products they need to grow their business."
Ronan joined CIT in 2012 and in his most recent role was responsible for the indirect channel and for maintaining critical relationships with bank and non-bank partners.
Prior to joining CIT, Kevin had worked for a number of other financial institutions as a senior-level equipment finance sales executive, including RBS Asset Finance, Young America Capital and GE Capital.
Capital Equipment Finance, part of CIT's Commercial Finance division, is a leading provider of equipment financing solutions to middle market and large-cap businesses. The unit specializes in providing equipment loans and leases with flexible terms and rates tailored to the equipment needs and credit strength of the borrower.
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.
SOURCE CIT Group Inc.