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News Stories (62 Results) - CIT

Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, announced Tom Keefe has joined the firm as Vice President of Portfolio. Keefe will be based in Westport, Connecticut, and will be responsible for... Read Story
March 21, 2019, 09:00 AM


Siena Lending Group LLC announced that Renee Singer has joined the firm in the role of Senior Vice President Relationship Manager. With over 30 years of experience in asset-based lending, she will add talent and credit expertise supporting the... Read Story
March 14, 2019, 01:31 PM


CIT Group Inc. announced that its Real Estate Finance division has provided acquisition financing for Nashville City Center, a 27-story office tower in downtown Nashville, Tennessee. The property, which is being acquired by CapRidge Partners, is... Read Story
March 13, 2019, 08:00 AM


CIT Group Inc.announced that CIT Northbridge Credit, through its investment advisor CIT Asset Management LLC, served as sole lead arranger on a $24 million senior secured credit facility for Pocono ProFoods, a leading foodservice distributor in the... Read Story
February 14, 2019, 08:10 AM


Bloomberg reports HNA Group Co. is putting more of its aviation and property assets up for sale, including CIT Aircraft Leasing, the airline leasing business purchased from CIT Group Inc. for more than $10 billion. The Chinese conglomerate is... Read Story
November 29, 2018, 07:20 AM


CIT Group Inc. announced that its Real Estate Finance division provided a senior secured construction loan of up to $35 million for development of a new office building on East 61st Street in Manhattan. The project -- a planned six-story structure... Read Story
November 01, 2018, 07:16 AM


CIT Group Inc. announced that its Healthcare Finance business served as administrative agent and lead arranger for $115 million first lien credit facility and sole lead arranger for a $29 million second lien credit facility on behalf of Bristol... Read Story
September 14, 2018, 07:19 AM


CIT Group Inc. announced that its Communications & Technology Finance unit served as sole lead arranger for a senior secured credit facility to Neutral Connect Networks LLC. Founded in 2016 and based in Boynton Beach, Florida, Neutral Connect... Read Story
September 11, 2018, 07:30 AM


CIT Group Inc. announced it has named Christopher M. McLaughlin as chief underwriting officer for the company’s Commercial Finance division. In his new role, McLaughlin is responsible for leading a team of underwriters and portfolio managers across... Read Story
August 29, 2018, 07:15 AM


Ride-hailing company Uber announced Nelson J. Chai has been named Chief Financial Officer.Chai brings more than a decade of experience in senior positions at some of the world’s leading publicly traded financial services and insurance companies. He... Read Story
August 22, 2018, 07:41 AM


CIT Group Inc. announced that its Real Estate Finance division was the sole lead arranger of a $45 million loan for a landmark residential project in the Tribeca neighborhood of Manhattan.The nine-story project, known as The Cast Iron House, consists... Read Story
August 21, 2018, 07:07 AM


CIT Group Inc. announced that CIT Northbridge Credit, its joint venture financing unit, served as sole lead arranger on a $35 million senior secured credit facility for Imperial Crane Services Inc. For nearly half a century, Imperial Crane, based in... Read Story
August 03, 2018, 07:18 AM


CIT Group Inc. announced that it has named Joerg Obermueller as the managing director of the Supply Chain Finance business within the company’s Commercial Services division.In his new role, Obermueller will be responsible for assembling a team... Read Story
July 31, 2018, 07:45 AM


Innergex Renewable Energy Inc. announced the acquisition of a sizable 250MWAC/315 MWDC photovoltaic solar project located in Winkler county, TX, United States from Longroad Energy Partners, LLC. Full notice to proceed with construction was issued and... Read Story
July 05, 2018, 07:04 AM


Middle market executives today are more positive about the health of their businesses and more optimistic about their prospects for future growth than at any time in the last three years, according to the findings of a new survey conducted by The... Read Story
June 28, 2018, 08:00 AM


CIT Group Inc. announced that its Healthcare Finance business, part of CIT's Commercial Finance division, has closed on a $26.6 million loan to finance the purchase of two adjoining medical office buildings in Rockville, Md. The properties, known as... Read Story
June 21, 2018, 07:09 AM


CIT Group Inc. announced that its Healthcare Finance business, part of the Commercial Finance division, has closed on a $15.3 million loan to finance the purchase of a San Diego, Calif., medical office building. The Coast Medical Center is a four... Read Story
May 30, 2018, 07:05 AM


CIT Group Inc. announced that it has named Wahida Plummer as its chief risk officer responsible for all enterprise risk. In addition, the company has promoted its Chief Credit Officer Marisa Harney to an expanded role leading all credit risk. Both... Read Story
May 29, 2018, 07:18 AM


CIT Group Inc., a provider of commercial lending and leasing services, today announced that its Commercial Finance division's Energy Finance unit served as sole lead arranger and administrative agent for approximately $79 million in financing for... Read Story
May 08, 2018, 07:00 AM


CIT Direct Capital announced the results of its new survey conducted by The Harris Poll revealing that nearly three out of four small businesses in the U.S. plan to expand their product and service offerings this year.  "With strong expectations for... Read Story
May 01, 2018, 07:23 AM


CIT Group Inc., a provider of commercial lending and leasing services, announced that its Commercial Finance division's Energy Finance unit served as sole lead arranger and administrative agent for about $36 million in financing for Nordic Solar LLC... Read Story
April 04, 2018, 07:22 AM


Bloomberg, and other news media, are reporting that John Thain, a former chief executive officer of Merrill Lynch and more recently CEO of CIT Group Inc., is expected to join Deutsche Bank AG’s supervisory board in May, citing sources with knowledge... Read Story
April 02, 2018, 07:40 AM


OnDeck announced the company will appoint Kenneth A. Brause as its Chief Financial Officer effective March 26, as part of a mutually agreed upon transition process between the company and current Chief Financial Officer, Howard Katzenberg. Katzenberg... Read Story
March 13, 2018, 08:00 AM


CIT Group Inc. announced the Healthcare Finance team within its Commercial Finance business provided a $175 million senior secured credit facility to QMES LLC, a large distributor of durable medical equipment to patients in seven Mid-Atlantic and... Read Story
March 07, 2018, 07:10 AM


Banc of California announced it has hired Kris Gagnon as Chief Credit Officer. Gagnon joins Banc of California from CIT Bank, where he served as Chief Credit Officer, and brings considerable expertise as a top tier credit executive in commercial... Read Story
February 08, 2018, 07:17 AM


CIT Group announced leadership updates as the company continues to focus on growth and development of its core business lines. Mike Jones, who previously led the company's Equipment Finance business, was named president of the Business Capital unit... Read Story
January 25, 2018, 07:30 AM


CIT Group Inc. announced that its Commercial Finance unit served as sole lead arranger for a $422 million senior secured loan financing to White Oak Commercial Aviation, LP, an affiliated entity of White Oak Global Advisors, LLC (White Oak) that is... Read Story
January 19, 2018, 07:19 AM


CIT Group Inc., a provider of commercial lending and leasing services, announced the appointment of Kenneth Caffrey and Michael Cavounis as managing directors of the Sponsor Finance Group. In these positions, Caffrey and Cavounis will facilitate the... Read Story
October 20, 2017, 08:00 AM


NXT Capital announced that Brian Miazga has joined the company’s Corporate Finance Group as Managing Director, West Region. Miazga’s responsibilities include new business originations, including structuring, underwriting and closing... Read Story
July 31, 2017, 07:21 AM


CIT Group Inc., a provider of commercial lending and leasing services, announced that its Healthcare Finance business provided a $65 million senior secured credit facility to QMES, a large distributor of durable medical equipment to patients in the... Read Story
June 02, 2017, 07:30 AM


Four Foods Group (FFG) – a restaurant development, investment and management company – has completed the placement of more than $32 million of growth capital to fund their growing restaurant services business. CIT, a provider of commercial lending... Read Story
March 29, 2017, 07:26 AM


CIT, a provider of commercial lending and leasing services, announced that CIT Commercial Services was selected as the sole provider of factoring services to AG Adriano Goldschmied and its affiliate, Big Star. Both firms are either owned by or... Read Story
February 07, 2017, 08:00 AM


For the fourth quarter, CIT reported a net loss of $1.2 billion. Loss from continuing operations for the fourth quarter was $424 million. For the full year 2016, net loss was $861 million. Loss from continuing operations for the full year was $196... Read Story
February 01, 2017, 07:53 AM


CIT Group Inc. announced that CIT Real Estate Finance served as Co-Arranger and Administrative Agent for a $65 million senior secured credit facility to a joint venture between Extell Development Company and Parkland Group. The financing supports the... Read Story
January 06, 2017, 07:35 AM


Sterling National Bank announced today that Terry O'Grady has joined as Managing Director. He will be leading the sales effort for the Asset Based Lending Group in the Midwest Region, providing asset-based and commercial loans to middle market... Read Story
August 22, 2016, 08:11 AM


The outlook for the healthcare industry remains challenging thanks in part to uncertainty over the upcoming presidential election and the continued changes ushered in by the Affordable Care Act (ACA). However, despite the uncertainty and rapid... Read Story
May 19, 2016, 07:19 AM


Trade Finance Solutions Inc., a provider of global trade financing solutions, announced the appointment of Tony C. Howard as chief credit officer. Howard will direct the company’s credit professionals and assume responsibility for the portfolio and... Read Story
May 09, 2016, 07:53 AM


CIT Group Inc., a leading provider of commercial lending and leasing services, announced the appointment of John C. Erickson (54) as President of Consumer Banking and President, California, effective immediately. He will serve on the company’s... Read Story
April 25, 2016, 08:07 AM


CIT Group Inc. today announces its strategic plan designed to drive long-term shareholder value. In connection with today’s (Mar. 23) strategic update call, CIT is delivering a slide presentation which is available at cit.com/investor.“Today, CIT... Read Story
March 23, 2016, 07:12 AM


Fred Raccosta has joined Tiger Capital Group as Director of Business Development for New York, New Jersey and Pennsylvania. From his base in Tiger’s New York office, the veteran of the valuation advisory and asset-based lending industries will focus... Read Story
January 21, 2015, 08:02 AM


Santander Bank, N.A. announced that Albert Spada has been named managing director and head of asset based lending. The ABL business at Santander provides commercial banking services to a range of customers across industries and has the capability to... Read Story
November 07, 2014, 07:10 AM


Capital One Bank announced the appointment of Ronald Pagoto as Director, Business Development Officer for Capital One Business Credit, a unit of the Commercial and Specialty Finance group. In this new role, Pagoto is responsible for business... Read Story
October 08, 2014, 07:48 AM


Capital One Bank announced the appointment of Terry O’Grady as managing director and head of the Midwest Region for Capital One Business Credit, part of the Commercial & Specialty Finance Group. In this newly-created role, O’Grady will be responsible... Read Story
October 03, 2014, 07:39 AM


First Niagara Commercial Finance, Inc. (FNCF), announced that David Raphaels has joined the bank as First Vice President and Senior Business Development Officer. In his new role, Raphaels is responsible for developing new asset-based lending... Read Story
October 01, 2014, 07:46 AM


Audax Group has acquired Wheel Pros, LLC (“Wheel Pros”) from Platinum Equity. Headquartered in Denver, Colorado, Wheel Pros is a leading designer, marketer, and distributor of branded aftermarket wheels. The company also distributes performance tires... Read Story
July 10, 2014, 07:08 AM


White Oak Global Advisors, LLC announced that Allan Marzen has joined the firm as Managing Director of Originations. Marzen is responsible for originating and underwriting new investment opportunities for White Oak’s private debt funds throughout the... Read Story
May 01, 2014, 07:29 AM


CIT Canada, a leader in providing lending, leasing and advisory services to small businesses and middle market companies, today announced that it provided $8 million in franchise financing to the BLCO Group, one of the largest multi-unit Kentucky... Read Story
April 07, 2014, 08:02 AM


Monroe Capital announced Andrew Cozewith has joined the firm as managing director in its Atlanta office and will lead the firm’s national media practice.“We are very excited to add Andrew to the Monroe Capital team,” said Ted Koenig, President & CEO... Read Story
October 09, 2013, 07:56 AM


Cole Taylor Business Capital (CTBC), a division of Cole Taylor Bank, announced the opening of a new regional sales office in Walnut Creek, California and the addition of a business development officer in Chicago. The Walnut Creek office will serve... Read Story
August 07, 2013, 09:06 AM


Bloomberg reports J.C. Penney denied a report that CIT Group has stopped funding some of its suppliers. Shares tumbled when The New York Post reported that CIT ceased supporting deliveries from small manufacturers to its stores. The newspaper didn’t... Read Story
August 01, 2013, 07:53 AM


CIT Group Inc. reported net income of $184 million for the second quarter of 2013, compared to a net loss of $73 million for the second quarter of 2012. Net income for the six month period ended June 30, 2013 was $346 million, compared to a net loss... Read Story
July 23, 2013, 07:52 AM


CIT Group arranged a $210 million senior secured credit facility for The Jordan Company, a private equity firm that specializes in buying and building companies, to support its refinancing of Haas Group International, Inc., the largest independent... Read Story
June 03, 2013, 08:32 AM


CIT Group, a leading provider of financing and advisory services to small businesses and middle market companies, announced that it received notice from the Federal Reserve Bank of New York (the FRBNY) that the Written Agreement, dated August 12... Read Story
May 31, 2013, 08:03 AM


GB Credit Partners, the investment management affiliate of Gordon Brothers Group, announced that they have provided a $15 million second lien equipment term loan to Dana Transport, Inc.  Dana Transport, Inc. is an industry leading chemical and fuel... Read Story
May 23, 2013, 07:36 AM


Annaly Capital Management announced that Glenn Votek has been appointed its Chief Administrative Officer. Votek brings over 20 years of financial and operational experience to Annaly with particular expertise in risk management, capital raising... Read Story
May 21, 2013, 07:34 AM


NXT Capital announced that Stuart Smartt has joined the company as Managing Director, Head of Healthcare, for the Corporate Finance Group. Smartt’s responsibilities include originating and leading senior secured credit facilities for private equity... Read Story
April 10, 2013, 07:12 AM


Reuters reported that CIT Group had preliminary talks over the past year and a half to sell itself to banks, including Toronto-Dominion Bank and Wells Fargo & Co, but nothing came of the conversations, according to three people familiar with the... Read Story
February 11, 2013, 07:52 AM


The gaming industry isn’t as recession-proof as many expected and experienced wide-scale expansion since the last economic downturn, but this year it has seen significant market activity and continued growth is expected according to Steve Epperly... Read Story
October 10, 2012, 07:00 AM


Slow economic growth and continued high unemployment have limited the recovery in discretionary consumer spending, but steady improvement for the restaurant sector should continue according to Bob Bielinski, Managing Director and Head of the... Read Story
October 03, 2012, 07:00 AM


While economic uncertainty at the national level is a top concern among middle market executives, many still believe that their companies are on solid ground. More than half (53%) say that their companies are stronger today than before the Great... Read Story
September 27, 2012, 07:00 AM


The Great Recession caused a shift in the way middle market companies think about funding. In CIT’s “U.S. Capital Markets Outlook,” Neil Wessan, Managing Director and Group Head of CIT Capital Markets, explains why finding the cheapest cost of funds... Read Story
September 13, 2012, 07:00 AM


CIT Group announced that it provided a senior secured credit facility to Odyssey Investment Partners, a leading middle-market private equity firm, to support its acquisition of L-com, Inc., a global designer and manufacturer of wired and wireless... Read Story
September 05, 2012, 07:00 AM