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CIT Announces Departure of CFO Scott Parker

October 20, 2015, 07:32 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 and Chief Executive Officer, said, “Scott has been an important member of the CIT senior leadership team and has played a central role in the financial restructuring of CIT. He led our efforts to improve our liability structure as we successfully eliminated or refinanced approximately $31 billion of high-cost debt and was instrumental in our efforts to return approximately $1.7 billion to investors. In addition, he worked with the team to improve our commercial franchises, as well as oversaw the exits of our non-strategic portfolios over the past five years. On behalf of our Board of Directors, shareholders and employees I thank Scott for his dedication and commitment to CIT and wish him continued success in his future endeavors.”

Parker joined CIT in July 2010 and has served as the company’s Principal Financial Officer overseeing all financial operations including the Accounting, Planning, Tax, Treasury and Investor Relations departments.

Founded in 1908, CIT is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle-market companies across more than 30 industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A.

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