Wessan Named Group Head of CIT Capital Markets

The CIT Group has appointed Neil Wessan as MD and group head of CIT Capital Markets effective immedlatey. Previously, Wessan was head of capital markets at Gleacher & Co.

PRESS RELEASE

CIT Group Inc. (NYSE: CIT) cit.com, a leading provider of financing to small businesses and middle market companies, today announced the appointment of Neil Wessan as Managing Director and Group Head of CIT Capital Markets, effective immediately. He will report directly to CIT Corporate Finance Co-Heads Pete Connolly and Jim Hudak.

Mssrs. Connolly and Hudak said, “Neil’s nearly three decades of experience in raising capital for companies will be important as we work to provide much-needed financing to the middle market sector. We look forward to working closely with Neil whose appointment will further enhance our reputation as a leading provider of middle market financing.”

Wessan will oversee the Capital Markets group which is responsible for structuring, pricing and distributing all financial products originated by CIT.

Prior to CIT, Wessan served as Head of Capital Markets for Gleacher & Company. Before this, he was a Founding Principal at Halsey Lane Holdings, and served as Managing Director and Co-Head of Jefferies & Company’s Leveraged Loan Capital Markets and Syndications Group. Earlier he held senior level positions with various financial institutions, including CIBC World Markets, ING Barings and Bankers Trust, over the course of his 28-year career.

About CIT Capital Markets

CIT Capital Markets is a leading provider of financial products and services to corporate institutions around the world. The group raises capital for CIT clients and distributes loans and other debt and equity products to investors. With access to state-of-the-art technology and a commitment to superior execution, it provides the highest possible level of service and industry knowledge. cit.com/capitalmarkets

About CIT Corporate Finance

CIT Corporate Finance provides lending, leasing and other financial and advisory services to the small business and middle market sectors, with a focus on specific industries, including Commercial Real Estate, Communications, Energy, Entertainment, Healthcare, Industrials, Information Services & Technology, Restaurants, Retail, and Sports & Gaming. cit.com/corporatefinance

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About CIT

Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $34 billion in finance and leasing assets. A member of the Fortune 500, it provides financing and leasing capital to its more than one million small business and middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and global vendor finance. CIT also operates CIT Bank (Member FDIC), BankOnCIT.com, its primary bank subsidiary, which offers a suite of online savings options designed to help customers achieve a range of financial goals. cit.com