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News Stories (162 Results) - CIT Group

CIT Group Inc. announced Leslie Grizzard has joined the company as Managing Director in the company's Aerospace, Defense & Government Services business.Grizzard will have responsibility for leading CIT's lending activity to serve the... Read Story
June 11, 2019, 08:51 AM


CIT Group Inc. announced that its Real Estate Finance division provided $48.2 million in senior secured financing for the acquisition and redevelopment of The District at Grand Terrace, an apartment complex in San Bernardino County, California.The... Read Story
June 07, 2019, 08:50 AM


CIT Group Inc. announced that its Power & Energy business served as the coordinating lead arranger on a $416 million debt financing supporting Longroad Energy’s 379-megawatt Prospero solar facility to be built in Andrews County, Texas.Founded in 2016... Read Story
May 30, 2019, 09:10 AM


CIT Group Inc. announced that its Healthcare Finance business served as sole lead arranger for a $64 million loan to refinance assisted living facilities in Florida. The borrower, Virtus Real Estate Capital (Virtus), is refinancing a portfolio of... Read Story
May 13, 2019, 09:05 AM


CIT Group Inc. announced that it served together with NORD/LB as co-lead arrangers and joint documentation agents on a $91 million term loan financing on behalf of Mesa Airlines, the fifth largest independent regional air carrier in the U.S.The... Read Story
May 09, 2019, 09:10 AM


CIT Group Inc. (CIT) announced that its Maritime Finance business served as sole lead arranger on a $40 million senior secured credit facility for MPC Container Ships, a leading provider in the feeder container ship market segment.MPC Container Ships... Read Story
April 29, 2019, 09:05 AM


CIT Group Inc. announced that its Healthcare Finance business served as the sole lead arranger on $24.75 million in financing for the purchase of a medical office building complex in Springfield, Massachusetts.The borrower, a joint venture between... Read Story
April 26, 2019, 09:05 AM


CIT Group Inc. and Square Mile Capital Management LLC announced they have originated a $63.9 million loan to finance the development of The Caldwell, a 259-unit, 180,000-square-foot high-rise rental residential project with ground floor retail being... Read Story
April 25, 2019, 08:45 AM


CIT Group Inc. announced that its Real Estate Finance division has provided $28.6 million in acquisition financing for The Quay on 17th Street, a shopping center in Fort Lauderdale, Florida.The property, which is being acquired by a joint venture... Read Story
April 19, 2019, 08:55 AM


CIT Group Inc. announced its Healthcare Finance business served as sole lead arranger for $36.8 million in financing for the real estate acquisition of the Bakersfield Heart Hospital by The Sanders Trust.Bakersfield Heart Hospital is an award-winning... Read Story
April 11, 2019, 09:00 AM


CIT Group Inc. announced Amna Mahmood has been promoted to Managing Director, National Underwriting Manager, in CIT’s Commercial Services business.In her new role, Mahmood will be responsible for managing and supervising underwriters across all... Read Story
April 01, 2019, 09:10 AM


CIT Group Inc. announced that Neal Harm has joined the company's Commercial Services business as managing director overseeing strategy, business development and project management. He will report to Commercial Services President Marc Heller.Harm... Read Story
March 27, 2019, 09:22 AM


CIT Group Inc. announced that it has completed a third round of financing for an innovative battery-based energy storage project that helps facilitate greater use of renewable energy in Southern California.This latest round of financing for Macquarie... Read Story
March 26, 2019, 08:45 AM


CIT Group announced that James R. Hubbard has been named the company's general counsel and corporate secretary, effective March 18, 2019. Hubbard will join CIT's Executive Management Committee and report to Chairwoman and Chief Executive Officer... Read Story
March 14, 2019, 12:00 PM


CIT Group Inc. announced that its Real Estate Finance division served as the sole lead arranger of a $48.7 million senior secured loan for the acquisition and lease-up of  the Ballantine Industrial Center in Newark, New Jersey. The property is being... Read Story
February 22, 2019, 07:12 AM


Macquarie Capital, the corporate advisory, capital markets and principal investing arm of Macquarie Group ("Macquarie") announced the closing of a $100 million debt financing of an innovative battery-based energy storage project in Southern... Read Story
December 21, 2018, 08:15 AM


CIT Group Inc. announced that Robert Rubino has been named president of CIT Bank, N.A., the banking subsidiary of CIT, and head of Commercial Banking, effective Feb. 25. Rubino will join the company’s Executive Management Committee and report to... Read Story
December 05, 2018, 08:00 AM


CIT Group Inc. announced that its Healthcare Finance business, part of CIT’s Commercial Finance division, provided $28.7 million in financing for the acquisition of medical office buildings in Brockton and Haverhill, Massachusetts. The Brockton... Read Story
December 04, 2018, 07:15 AM


CIT Group Inc. announced that its Real Estate Finance business served as a sole lead arranger of a $91 million senior secured loan for the acquisition of the Sheraton Denver Hotel in downtown Denver, Colorado. The property, which serves as Denver’s... Read Story
November 20, 2018, 07:16 AM


CIT Group Inc. revealed a simplified and refreshed brand identity aimed at presenting a more cohesive market presence following a multi-year transformation of the company. The effort includes a new marketing campaign, tagline and website reflecting... Read Story
November 16, 2018, 07:45 AM


CIT Group Inc. announced it has named Evan Cohen as managing director and group head for its Maritime Finance business. In his new role, Cohen leads a team of underwriting and business development professionals in building new client relationships... Read Story
November 12, 2018, 08:01 AM


CIT Group Inc. announced that Alla Whitston has joined the company as the chief technology officer reporting to Denise Menelly, executive vice president and head of technology and operations. In this role, Whitston will lead the technology planning... Read Story
October 30, 2018, 08:00 AM


CIT Group Inc. announced that its Real Estate Finance division was the sole lead arranger of a $50 million senior secured loan for the acquisition of industrial properties in San Diego, California, by BKM Capital Partners. The acquisition consisted... Read Story
October 17, 2018, 07:12 AM


CIT Group Inc. announced that its Maritime Finance unit served as sole lead arranger on a $15 million senior secured loan for MRC Maritime Holdings, a ship-owning entity controlled by a private New York City-based investment fund manager.The loan... Read Story
October 11, 2018, 07:03 AM


CIT Group Inc. announced that it has named Chris Ralston as a director in the Lender Finance business within CIT’s Business Capital division.In his new role, Ralston will be responsible for analyzing portfolio opportunities and engaging with... Read Story
September 21, 2018, 07:34 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. reported second-quarter net income available to common shareholders of $117 million, compared with net income available to common shareholders of $157 million for the year-ago quarter. Income from continuing operations available to... Read Story
July 24, 2018, 08:01 AM


CIT Group Inc. announced that it has added a senior leader to its Communications & Technology Finance team in its Commercial Finance division. Jason Cha joins CIT as director of originations, with primary responsibility for expanding its existing... Read Story
June 29, 2018, 07:10 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 it added a senior leader to its Sponsor Finance team in its Commercial Finance division responsible for pursuing new growth opportunities for financing middle-market private equity sponsor owned businesses. Thomas M.... Read Story
June 06, 2018, 07:30 AM


CIT Group Inc. announced that its Real Estate Finance division was the sole lead arranger of a $107.5 million senior-secured construction loan for a new 333-unit multifamily residential development planned for Downtown Oakland, Calif. The project... Read Story
May 23, 2018, 07:13 AM


CIT Group Inc. announced that it has named Sarah L. F. McAvoy to the Corporate Treasurer position, effective March 19.  In this role, McAvoy has responsibility for all aspects of treasury, including capital and liquidity management, balance sheet... Read Story
March 14, 2018, 07:40 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


Lease Corporation International (LCI), the leading helicopter lessor and aviation division of the Libra Group, has closed its inaugural capital markets term loan financing, with a value in excess of $55 million.The private, senior secured tranches... Read Story
February 13, 2018, 07:12 AM


CIT Group Inc. announced that the Corporate Banking unit of its Commercial Finance business arranged for $180 million in financing for HCT Group, a leader in innovative design, engineering and manufacturing of packaging solutions for global beauty... Read Story
February 09, 2018, 07:20 AM


CIT Group Inc. a provider of commercial lending and leasing services, announced that its Commercial Finance division’s Energy Finance business served as sole lead arranger and administrative agent for $46.5 million in construction-only financing on... Read Story
February 08, 2018, 07:11 AM


CIT Group announced three key additions to the Restaurant Franchise Finance team within its Equipment Finance business to support growth in this part of the industry. "With these appointments, we are continuing to build our Franchise Finance team to... Read Story
February 01, 2018, 07:30 AM


CIT Group Inc. announced that its Healthcare Finance business has closed a $136.9 million senior secured credit facility for CommuniCare Health Services Inc., a privately held company headquartered in Cincinnati, Ohio. The credit facility is... Read Story
January 23, 2018, 07:34 AM


CIT Group Inc., a provider of commercial lending and leasing services, and real estate broker Holliday Fenoglio Fowler, L.P. (HFF), announced $35 million in financing for Plaza 360, a 115,186-square-foot, creative office building in Oakland... Read Story
December 12, 2017, 07:00 AM


OneWest Bank, CIT Group Inc.'s Southern California branch bank, announced that Heather Ellison has joined the company as senior vice president and head of the retail branch banking channel. She succeeds Terri Decker, who has elected to retire in... Read Story
December 08, 2017, 07:07 AM


CIT Group Inc. announced that Nicholas Nunnari has joined the Commercial Services team as vice president and business development officer. In this position, Nunnari will advance the team's strategic initiatives and facilitate the continuing expansion... Read Story
October 19, 2017, 07:14 AM


CIT Group Inc. announced that Marc Adelson has joined the company's Commercial Services business as managing director and Northeast regional manager. In this position, Adelson will manage the largest region for the Commercial Services business and be... Read Story
October 06, 2017, 07:06 AM


SierraConstellation Partners, LLC (SCP), an interim management and advisory firm to middle-market companies in transition, announced that it has hired John Farrace as a managing director in the firm’s Los Angeles office.  “We are very pleased to have... Read Story
September 28, 2017, 07:46 AM


Carl Marks Advisors, a restructuring advisory and investment banking firm to middle market companies, announced that Patrick Flynn has joined the firm as Managing Director, responsible for business development and providing financial advisory... Read Story
September 22, 2017, 07:41 AM


White Oak Commercial Finance, LLC (WOCF) an affiliate of White Oak Global Advisors, LLC and its institutional clients, announced that it had bolstered its Asset-Based Lending team with the appointment of commercial financing veteran Mignon Winston to... Read Story
September 21, 2017, 07:20 AM


CIT Group Inc. announced that Kenneth McPhail has been named executive vice president and chief strategy officer, effective immediately. In this role, he will have responsibility for strategic planning and initiatives, mergers, acquisitions and... Read Story
September 05, 2017, 08:16 AM


CIT Group announced that its Real Estate Finance business provided a $60 million senior secured construction loan to Edward J. Minskoff Equities, Inc. (Minskoff Equities), a privately held real estate investment and development firm. Proceeds from... Read Story
August 16, 2017, 07:13 AM


CIT Group Inc. announced that CIT Communications & Technology Finance provided a $20 million delayed-draw term loan (DDTL) to CTI Towers, a wireless tower company. CTI Towers owns 208 towers and manages the Comcast Cable portfolio of 435 towers. The... Read Story
July 14, 2017, 07:34 AM


Stradley Ronon announced today that it has continued the growth of its New York office with the hiring of respected bankruptcy and commercial litigation attorney Deborah A. Reperowitz. Reperowitz joins Stradley Ronon as co-chair of the firm’s... Read Story
July 07, 2017, 07:03 AM


President Donald Trump announced on Monday that he plans to nominate Joseph Otting -- a veteran of the commercial lending industry -- as Comptroller of the Currency, a division of the Treasury Department. Otting had a long career in financial... Read Story
June 07, 2017, 08:00 AM


CIT Group Inc. announced that its Real Estate Finance business provided a $46 million senior secured credit facility to Menin Development, a privately held owner, developer and manager of commercial real estate in the Southeast United States. Menin... Read Story
May 10, 2017, 07:20 AM


CIT Group announced financial results for the first quarter ended March 31, 2017.For the quarter ended March 31, 2017, the Company reported net income of $180 million compared to $146 million for the year-ago quarter.  Income from continuing... Read Story
April 25, 2017, 08:02 AM


CIT Group announced that John Fawcett has been named executive vice president and chief financial officer. He will succeed CFO Carol Hayles who has decided to pursue other opportunities. Fawcett will join the company as an advisor on April 17, 2017... Read Story
April 14, 2017, 07:16 AM


CIT Group Inc., a provider of commercial lending and leasing services, announced that CIT Healthcare Finance served as joint lead arranger and joint bookrunner for a $275.3 million senior secured credit facility for Blue Wolf Capital Partners, a... Read Story
March 07, 2017, 07:19 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., a leading provider of commercial lending and leasing services, announced the appointment of Paul Tufaro as Executive Vice President, Chief Compliance Officer, effective immediately. Tufaro will report to Executive Vice President and... Read Story
January 17, 2017, 08:02 AM


CIT Group Inc. announced that CIT Entertainment, Media, Gaming & Sports Finance served as Sole Lead Arranger and Administrative Agent for a $78.85 million senior secured credit facility to the St. Croix Chippewa Indians of Wisconsin. Financing was... Read Story
December 15, 2016, 07:23 AM


CIT Group Inc. announced the appointment of Gina Proia as Executive Vice President and Chief Marketing and Communications Officer, effective Dec. 14, 2016. Proia will serve on the company’s Executive Management Committee and report directly to Chief... Read Story
December 14, 2016, 07:26 AM


CIT Group Inc. announced that Steven T. Mnuchin has resigned from its Board of Directors, effective immediately. His resignation follows President-elect Donald J. Trump’s announced intention to nominate Mnuchin as the next Secretary of the... Read Story
December 05, 2016, 07:41 AM


CIT Group Inc. appointed Steve Solk as President of CIT Consumer Banking and President, California, effective immediately. This is in addition to his current responsibilities as President of CIT Business Capital and as a member of CIT Group’s... Read Story
December 01, 2016, 08:06 AM


According to the 8th annual CIT Retail Outlook, 80% of middle-market retailers rate their overall financial condition as healthy or very healthy. Many are cautiously optimistic about the upcoming holiday season and the near-term future. Sixty percent... Read Story
November 23, 2016, 07:44 AM


As a result of continued growth and increased demand for asset-based lending, Bibby Financial Services (BFS) announces the addition of Jim Vargo as Senior Vice President of Business Development. Vargo will lead the Asset Based Lending (ABL) division... Read Story
November 16, 2016, 07:41 AM


CIT Group Inc. announced that Michael Brosnan has been named to its Board of Directors effective November 10. Additionally, John Oros has stepped down from the Board due to the demands and requirements of his position with J.C. Flowers & Co.“We are... Read Story
November 15, 2016, 07:28 AM


CIT Group Inc. announced the appointment of Marisa J. Harney as Executive Vice President, Chief Credit Officer, effective immediately. Harney will report directly to Executive Vice President and Chief Risk Officer Robert Rowe.“We are pleased to have... Read Story
November 09, 2016, 07:47 AM


Super G Funding, a leading national provider of residual and cash flow based loans to lower middle market businesses, announced the hiring of Steve Bellah. Based in Dallas, Bellah is joining Super G to help scale the growing Cash Flow Lending... Read Story
October 18, 2016, 07:43 AM


CIT Group Inc. announced it has entered into a definitive agreement to sell CIT Commercial Air, its commercial aircraft leasing business, to Avolon Holdings Limited (“Avolon”), the international aircraft leasing company and a wholly-owned subsidiary... Read Story
October 07, 2016, 07:21 AM


Miller Buckfire, a leading investment bank specializing in corporate restructuring and recapitalization,announced that Richard Klein has joined as Managing Director in New York.Klein brings over twenty years of experience to Miller Buckfire. Most... Read Story
September 26, 2016, 08:16 AM


CIT Group announced that CIT Franchise Finance added four sales professionals to its Mid-Cap Restaurant Franchise Finance group.“These new members of our sales team bring long-standing experience in the restaurant industry as well as exceptional... Read Story
September 22, 2016, 07:29 AM


CIT Group Inc. announced the appointment of Stuart Alderoty, as Executive Vice President, General Counsel and Corporate Secretary. Alderoty will join CIT from HSBC North America Holdings, Inc. where he served as General Counsel since November of 2010... Read Story
September 14, 2016, 07:23 AM


CIT Group Inc. announced the appointment of James J. (Jim) Duffy as Executive Vice President and Chief Human Resources Officer, effective immediately. Duffy, who previously held the role of Global Head of Human Resources at CIT prior to leaving in... Read Story
August 31, 2016, 07:14 AM


CIT Group Inc. announced that CIT Commercial Services appointed Darrin Beer as Western Regional Sales and Portfolio Manager. In this role, Beer will lead CIT Commercial Services activities in the Western United States. He will continue to be based in... Read Story
August 12, 2016, 08:19 AM


CIT Group Inc. announced that CIT Corporate Banking provided $34 million in senior secured credit facilities to The Sun Valley Group, the largest supplier of cut flowers in the United States. The financing will be used for working capital and... Read Story
July 15, 2016, 07:34 AM


Monroe Capital LLC announced Marc Adelson has joined the firm as Managing Director, Originations. He joins Ben Marzouk and Lee Stern in the firm’s New York office, as the firm continues to expand its presence in the New York region.“We are very... Read Story
July 12, 2016, 08:03 AM


CIT Group Inc. announced CIT Real Estate Finance served as sole lead arranger for a $65 million senior secured construction loan for MC 19 East Houston LLC, a joint venture between Madison Capital and Vornado Realty Trust, two real estate industry... Read Story
July 07, 2016, 07:24 AM


CIT Group announced that it has reached a definitive agreement to sell its Canadian equipment finance and corporate finance businesses (“CIT Canada”), with more than US $700 million in assets, to Laurentian Bank of Canada. In addition, approximately... Read Story
June 30, 2016, 08:03 AM


CIT Group announced the launch of a mid-cap restaurant franchise finance practice to complement its successful large and small restaurant franchise financing businesses.“CIT franchise finance has long been recognized as a leading provider of... Read Story
June 16, 2016, 07:56 AM


McGlinchey Stafford PLLC announced the addition of accomplished attorney Deborah A. Reperowitz as a member in the firm's Commercial Litigation practice group and New York City office.Reperowitz is a nationally known attorney, representing clients in... Read Story
June 10, 2016, 07:25 AM


CIT Group Inc. announced that CIT Real Estate Finance provided a $35 million senior secured mortgage loan to a special purpose entity controlled by The Bascom Group, an owner/operator of multifamily properties, and funds managed by Oaktree Capital... Read Story
May 27, 2016, 07:48 AM


Sprott Asset Management announced that Ramesh Kashyap has joined the firm as senior vice president of Sprott’s Alternative Income Group. Kashyap will enhance Sprott’s due diligence and oversight capabilities and help maintain the firm’s commitment to... Read Story
May 27, 2016, 07:30 AM


Encina Business Credit, LLC (EBC) announced Bill Kearney has joined the company as Senior Managing Director to lead its expansion into retail finance on a national basis. Kearney will be targeting retailers across a wide range of market segments that... Read Story
April 05, 2016, 08:01 AM


Blue Hills Bank has hired bankers A. Keith Broyles and Yvonne Kizner to lead its new Asset-Based Lending initiative. Formerly senior vice president and first vice president, respectively, at First Niagara Commercial Finance, Broyles and Kizner join... Read Story
March 24, 2016, 07:59 AM


CIT Group announced several changes to its Board of Directors designed to include additional industry expertise and shareholder representation: Ellen R. Alemany has been appointed Chairwoman effective after John A. Thain’s retirement as Chairman... Read Story
February 22, 2016, 08:11 AM


Activist investors are increasingly campaigning against U.S. financial institutions (FIs), a move driven by changes in the activists' approach and an increased alignment with regulatory objectives, according to Fitch Ratings.While traditionally... Read Story
February 08, 2016, 07:29 AM


CIT Group reported net income of $144 million for the fourth quarter of 2015, compared to net income of $251 million for the year-ago quarter. Income from continuing operations for the fourth quarter was $151 million compared to $252 million in the... Read Story
February 02, 2016, 08:05 AM


CIT Group (NYSE:CIT) announced the appointment of Marc Heller as President of CIT Commercial Services, effective February 1, 2016, following the retirement of current CIT Commercial Services President Jon Lucas on January 31, 2016. Heller will report... Read Story
January 07, 2016, 07:30 AM


CIT Group 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... Read Story
December 09, 2015, 08:04 AM


Siena Lending Group continues to expand its nationwide platform with today’s announcement of the hiring of Steve Bellah as the Southwest Regional Director. Bellah, a highly seasoned ABL veteran, will be focused on originating middle-market... Read Story
December 03, 2015, 08:17 AM


Cologix, a network neutral interconnection and data center company, has completed the previously announced acquisition of Net Access, LLC, a colocation and workspace recovery provider with over 200K gross SQF across three enterprise-grade facilities... Read Story
November 20, 2015, 07:33 AM


CIT Group Inc., a leading provider of commercial lending and leasing services, announced the appointment of Ed Sperling as Executive Vice President, Corporate Controller for CIT Group Inc. and CIT Bank N.A. He will report directly to Chief Financial... Read Story
November 18, 2015, 07:06 AM


Retailers are feeling confident about their financial situations – projecting growing sales and revenue – but many feel significant investment toward innovation in an omni-channel strategy including website, mobile and social media channels will be... Read Story
November 12, 2015, 08:03 AM


CIT Group reported net income of $693 million for the quarter ended September 30, 2015, compared to net income of $515 million for the year-ago quarter. Income from continuing operations was $697 million compared to $515 million in the year-ago... Read Story
November 03, 2015, 07:39 AM


CIT Group Inc. served as Joint Lead Arranger in a senior secured credit facility to support Audax Group, an alternative asset management firm specializing in investments in middle market companies, in its acquisition of Techniks Industries, a leading... Read Story
October 27, 2015, 08:36 AM


The announcement by CIT Group Inc. that John A. Thain will retire as Chief Executive Officer (CEO) at the end of first-quarter 2016, following the announcement earlier this week that CIT's Chief Financial Officer (CFO) Scott T. Parker will depart the... Read Story
October 23, 2015, 07:51 AM


The Board of Directors of CIT Group Inc., announced that Chief Executive Officer John A. Thain will retire effective March 31, 2016, and will continue to serve as Chairman of the Board of Directors, and that CIT Board Member Ellen R. Alemany will... Read Story
October 22, 2015, 08:06 AM


CIT Group announced a series of strategic initiatives that are designed to advance the Company’s transition to a U.S. Commercial Bank. The Company announced that it would explore strategic alternatives for its $10 billion Commercial Air business, and... Read Story
October 22, 2015, 07:49 AM


CIT Group announced that Scott T. Parker, Executive Vice President and Chief Financial Officer, will leave the company in November to serve as Executive Vice President and Chief Financial Officer of Springleaf Holdings, Inc.John A. Thain, Chairman... Read Story
October 20, 2015, 07:32 AM


Crestmark Bank announced Steve Turkish has been promoted to director of the bank’s Trade Services Division. In this role, Turkish will lead and develop talent within the division, and expand Crestmark’s footprint within the consumer products market... Read Story
October 06, 2015, 07:29 AM


CIT Group Inc. announced a joint venture with funds managed by TPG Special Situations Partners (TSSP), the dedicated special situations and credit platform with over $12 billion of assets under management, and part of TPG, a leading global private... Read Story
August 27, 2015, 08:06 AM


CIT Group announced that it provided a $165.5 million senior secured credit facility to The Jordan Company, a middle market private equity firm, to support its acquisition of DiversiTech, a manufacturer and distributor of a wide range of engineered... Read Story
August 10, 2015, 08:25 AM


CIT Group reported net income of $115 million for the quarter ended June 30, 2015, compared to net income of $247 million for the second quarter of 2014. Net income for the six month period ended June 30, 2015 was $219 million compared to $364... Read Story
July 28, 2015, 07:48 AM


Capital Business Credit LLC (CBC), a global commercial finance company, announces two key appointments, expanding the company’s Los Angeles and Charlotte offices. Matt Piccolo and Katherine Griffin have joined as Senior Account Executives/Vice... Read Story
June 16, 2015, 07:54 AM


Bloomberg reported that Bank of America Corp. hired Jeffrey Peek, who ran commercial lender CIT Group Inc. for six years, as an executive vice chairman in the global investment bank.Bloomberg reported Peek, most recently a vice chairman at Barclays... Read Story
June 08, 2015, 07:57 AM


CIT Group Inc. announced that CIT Corporate Finance served as administrative agent on a $40 million senior secured asset-based revolving credit facility for TowerBrook Capital Partners L.P., a private equity firm. The financing was used to facilitate... Read Story
May 21, 2015, 07:48 AM


With the possibility of rising interest rates on the horizon, middle market companies that fail to engage in any type of hedging activity are potentially leaving themselves exposed to higher costs of capital in the future. However, many of these... Read Story
May 20, 2015, 07:09 AM


CIT Group announced that it served as sole lead arranger and administrative agent in a $90 million senior secured credit facility to support vXchnge Holdings’ (vXchnge) acquisition of eight datacenters. vXchnge is a portfolio company of The Stephens... Read Story
May 12, 2015, 07:31 AM


THL Credit Advisors announced today that Thomas E. Lane has joined the firm as a Managing Director where he will focus on leading the origination, structuring, underwriting and execution of investments in the Media & Information Services sector for... Read Story
May 04, 2015, 07:54 AM


CIT Group reported net income of $104 million for the quarter ended March 31, 2015, compared to net income of $117 million for the first quarter of 2014. First quarter results were impacted by a higher tax provision resulting from the recognition of... Read Story
April 28, 2015, 07:46 AM


A rising economy and the increased availability of financing continue to give middle market company founders, and their private equity partners, reason to sell their companies and take advantage of high exit multiples. Lenders and banks are eager to... Read Story
March 24, 2015, 07:26 AM


Santander Bank, N.A. announced that Vincent Belcastro has been appointed as the group head of equipment finance. He will be responsible for growing the team and business focused on financing activities for equipment lending, leasing, and structured... Read Story
March 20, 2015, 07:59 AM


CIT Group reported net income of $251 million for the fourth quarter of 2014, compared to net income of $130 million for the year-ago quarter. Income from continuing operations for the fourth quarter was $252 million compared to $123 million in the... Read Story
January 27, 2015, 08:13 AM


An annual retail outlook study (www.cit.com/retailoutlook) of more than 250 senior middle-market retail executives conducted by CIT Group Inc. found cautious optimism among respondents. Fifty-five percent of executives anticipate their total holiday... Read Story
November 21, 2014, 07:30 AM


Citizens Financial Group named Marc Paulhus, Head of Asset Finance for Citizens Commercial Banking, as Citizens Bank Rhode Island President. Paulhus, a Rhode Island native with degrees from Providence College and the University of Rhode Island, has... Read Story
November 19, 2014, 07:11 AM


CIT Group Inc. announced that it served as Joint Lead Arranger in a $225 million senior secured credit facility for Clearlake Capital Group, a private investment firm, to acquire AmQuip Crane Rental , one of the largest lifting solutions businesses... Read Story
November 18, 2014, 07:51 AM


Capital markets activity continues to accelerate, as the likelihood of rising interest rates looms in the near future, which means now is the ideal time for borrowers to explore interest rate hedges. These insights and others are shared by Neil... Read Story
November 13, 2014, 07:41 AM


The fast casual segment remains the top performer in the restaurant sector, and will continue to lead activity and change. The segment, typified by the likes of Chipotle, Noodles & Company and Zoe’s Kitchen, is providing offerings that are consistent... Read Story
November 07, 2014, 07:08 AM


Middle market executives have a positive outlook for their businesses with nearly two-thirds (63%) indicating that their companies are better off today than last year, while 62% expect the size of their workforce to increase in the coming year. These... Read Story
October 30, 2014, 07:24 AM


CIT Group reported net income of $515 million for the third quarter of 2014, compared to net income of $200 million for the year-ago quarter. Income from continuing operations for the third quarter was $515 million compared to $193 million in the... Read Story
October 28, 2014, 07:09 AM


CIT Group Inc. provided financing to Wakefern Food Corp., the largest supermarket cooperative in the United States. Wakefern is the principal supplier of food and non-food products to member-owned supermarkets that trade under the ShopRite and... Read Story
October 09, 2014, 07:27 AM


CIT Group announced the launch of View from the Middle™ (VftM), its rebranded content marketing program that will offer business insights and trends, specific industry expertise and content of value to executives in companies of all sizes.Insights... Read Story
September 24, 2014, 07:14 AM


LiftForward, Inc. announced the hire of Christine Reilly as the LiftForward’s Chief Risk Officer. Reilly has more than thirty years of experience in the financial services industry including nearly six years as the President of CIT Group Inc.'s Small... Read Story
September 19, 2014, 07:17 AM


CIT Group Inc. provided a $25 million senior secured credit facility to the Transilwrap Company, a leading manufacturer, converter and distributor of plastic film used in printing, laminating, packaging and industrial applications, to acquire MetPro... Read Story
August 14, 2014, 07:27 AM


CIT Group announced that CIT Real Estate Finance provided a $60 million senior secured credit facility to a joint venture between Rockwood Capital and The Muller Company, two real estate investment firms. Financing was provided by CIT Bank, the U.S.... Read Story
August 07, 2014, 07:10 AM


CIT Group Inc.,  today announced that it has entered into a definitive agreement and plan of merger with IMB Holdco LLC, the parent company of OneWest Bank N.A. (“OneWest Bank”), for $3.4 billion in cash and stock.OneWest Bank is a privately owned... Read Story
July 22, 2014, 07:51 AM


AloStar Business Credit announced that David Phillips has been promoted to Managing Director, Head of Originations. Phillips has been with AloStar since May 2011 and was an integral part of establishing the company which three years since inception... Read Story
June 17, 2014, 07:58 AM


Varagon is an independent firm, backed by American International Group, Inc. and by certain partners and affiliates of Oak Hill Capital Management (Oak Hill), and launches with an initial $1.5 billion investment commitment from AIG.For investors... Read Story
June 12, 2014, 07:53 AM


Keltic Financial Services is pleased to announce the appointment of David M. Weinstein to its credit team as senior vice president and senior underwriter.Weinstein joins Keltic with more than 25 years of experience after a very successful career. He... Read Story
May 19, 2014, 07:33 AM


CIT Group today reported net income of $109 million for the quarter ended March 31, 2014, compared to net income of $163 million for the first quarter of 2013. First quarter results were primarily impacted by lower levels of interest income, higher... Read Story
April 29, 2014, 07:33 AM


According to a Bloomberg article, CIT Group agreed to sell its student lending business to Nelnet Inc. for about $1.1 billion.Most of the proceeds will be used to repay debt secured by student loans, leading to a net gain in the second quarter, CIT... Read Story
April 17, 2014, 06:53 AM


CIT Group Inc. appointed Todd Friant Managing Director of CIT Corporate Finance, Energy, effective immediately. He will be responsible for leading the origination efforts for senior lending opportunities in the oilfield services and midstream... Read Story
April 15, 2014, 07:44 AM


CIT Group Inc. announced that CIT Maritime Finance provided a $55 million senior secured credit facility to Tanker Solutions LLC, a joint venture between Prime Tanker Management and Castlelake, L.P. The facility supports the purchase of a fleet of... Read Story
April 09, 2014, 07:35 AM


CIT Group Inc. announced the pricing of a public offering of $1 billion aggregate principal amount of senior unsecured notes due 2019 (the “Notes”). The Notes priced at par and will bear interest at a per annum rate of 3.875%. The Notes will be... Read Story
February 13, 2014, 07:02 AM


Critical sectors of the U.S. economy should see continued or renewed strength in 2014, according to business leaders at CIT Group.Bob Bielinski, Managing Director, CIT Corporate Finance, Retail and Restaurants; Matthew Galligan, President, CIT Real... Read Story
February 06, 2014, 07:24 AM


Signature Bank, a New York-based full-service commercial bank, announced Frank Marsicano was named Vice President/Business Development Officer, joining Robert Love’s recently appointed asset-based lending team. Love, Senior Vice President and Group... Read Story
February 05, 2014, 07:46 AM


CIT Group announced that it arranged a $160 million senior secured credit facility for The Jordan Company, a middle market private equity firm, to support its acquisition of Transilwrap Company, Inc., a leading manufacturer, converter and distributor... Read Story
January 30, 2014, 07:10 AM


CIT Group today reported net income of $130 million for the fourth quarter of 2013, compared to net income of $207 million for the fourth quarter of 2012. Net income for the year ended December 31, 2013 was $676 million compared to a net loss of $592... Read Story
January 28, 2014, 07:41 AM


CIT Group Inc.announced that Ellen R. Alemany has been named to CIT’s Board of Directors effective immediately. She will serve as a member of CIT’s Audit Committee.Alemany is the former Head of The Royal Bank of Scotland (RBS) Americas, the... Read Story
January 22, 2014, 07:27 AM


CIT Group Inc. announced that CIT Real Estate Finance provided a $33 million senior secured credit facility to Exeter Property Group, a real estate private equity firm that acquires, develops, and manages commercial properties across the U.S. The... Read Story
December 19, 2013, 07:39 AM


Marquette Business Credit announced Michael Song has joined its team as a Senior Vice President within the Southwest Regional Office in Dallas, Texas.  Song has 18 years of financial industry experiences that include eight years in public accounting... Read Story
December 16, 2013, 07:43 AM


CIT Group announced that CIT Corporate Finance served as Joint Lead Arranger in a $140 million senior secured credit facility for National Dentex (NDX), one of the largest dental lab services providers in the United States. NDX is a portfolio company... Read Story
November 14, 2013, 08:09 AM


CIT Group Inc. announced that CIT Corporate Finance provided a $35 million senior secured credit facility to Central States Tower II, LLC (CST II), a leading independent operator and developer of wireless communications towers and portfolio company... Read Story
November 07, 2013, 07:51 AM


Bloomberg reported that Fort Worth-based RadioShack, which is retooling its stores to try to reverse a sales slide, received commitments for $835 million in new financing. Bloomberg obtained this information from sources with knowledge of the matter.... Read Story
October 22, 2013, 07:42 AM


CIT Group Inc. today reported net income of $200 million for the third quarter of 2013, compared to a net loss of $299 million for the third quarter of 2012. Net income for the nine month period ended September 30, 2013 was $546 million compared to a... Read Story
October 22, 2013, 07:36 AM


Middle-market executives, whose companies take in more than $6 trillion in revenues and employ more than 30 million people annually, are expressing renewed optimism in their business prospects compared to a year ago. However, despite this positive... Read Story
October 09, 2013, 07:39 AM


Triumph Commercial Finance, a member of the Triumph Bancorp, Inc. group and provider of asset-based lending, accounts receivable financing (factoring) and equipment finance solutions to small and mid-sized businesses nationwide, today announced the... Read Story
September 26, 2013, 07:58 AM


CIT Group announced that it arranged a $100 million senior secured credit facility for AWCC Holdings LLC, a subsidiary of American Wind Capital, to acquire a portfolio of land leases and lease royalties from solar projects from Hawaii to New York.... Read Story
September 18, 2013, 07:45 AM


Southern Theatres announced that it has acquired Movie Tavern, a cinema eatery chain with 16 locations and 130 screens across seven states. The combined company is now among the ten largest exhibitors in the United States, and has 36 locations and... Read Story
September 13, 2013, 07:36 AM


Capital One Bank today announced the appointment of Joseph Nastri and Marcy Dean to its Middle Market lending team in New York.  In his new role, Nastri will be responsible for managing lending and commercial banking services for the region’s middle... Read Story
September 10, 2013, 07:16 AM


CIT Group announced that CIT Corporate Finance served as Co-Lead Arranger in a $194.5 million senior secured credit facility to TruckPro, one of the largest independent distributors of heavy duty truck parts in the United States, to finance its... Read Story
September 04, 2013, 08:33 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 announced that it provided a $42 million senior secured loan to Garrison Investment Group, a leading middle market credit, asset-based and real estate investor located in New York City. The facility will be used to purchase seven community... Read Story
July 09, 2013, 08:32 AM


Porter Capital Corporation announced Steven R. Bellah has joined the company as Senior Vice President and National Sales Manager.  Bellah has 20 -years plus of commercial finance, managerial and consulting experience. He has managed complex... Read Story
June 19, 2013, 07:28 AM


Bloomberg reported that John Thain, chief executive officer of CIT Group, discussed the outlook for the company and the U.S. financial industry while speaking on Bloomberg Television's "Market Makers".According to the Bloomberg report, Thain declined... Read Story
June 13, 2013, 07:52 AM


As it keeps pace with increasing demand in Illinois and throughout the Midwest, Wells Fargo announced that James K. Vargo – a business leader here for more than 25 years – has joined its growing Commercial Banking team in Chicago. In his new role as... Read Story
May 22, 2013, 07:36 AM


CIT Group, a leading provider of financing and advisory services to small businesses and middle market companies, arranged a $220 million senior secured credit facility to help finance the acquisition of TrustHouse Services Group by Elior SCA and... Read Story
April 25, 2013, 07:39 AM


CIT Group has agreed to acquire a commercial loan portfolio from Flagstar Bank (FSB), a wholly-owned subsidiary of Flagstar Bancorp, Inc. Under the terms of the agreement, CIT Bank, the U.S. commercial bank subsidiary of CIT, will acquire... Read Story
January 03, 2013, 08:08 AM


CIT Group arranged and syndicated a $125 million senior secured credit facility to UK-based A J Walter Aviation (AJW), a leading global aircraft spares specialist. Proceeds of the facility will be used to support spare parts acquisitions to service... Read Story
December 19, 2012, 08:30 AM


CIT Group reported a net loss for the quarter ended September 30, 2012 of $305 million compared to a net loss of $32.8 million for the third quarter of 2011. The current period includes charges of $471 million related to the redemption of $4.6... Read Story
October 23, 2012, 09:00 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