Carl Icahn Approves Of CIT Group (CIT) Hiring John Thain

Investor Carl Icahn voiced his support for John Thain's hiring as Chief Executive of CIT Group, Inc. (NYSE: CIT).

"He's a very good pick for the job," Icahn said. "Thain has a pretty good history of operations and making things happen."

Icahn said that CIT Group has "great" lending platforms that could be be revitalized.

"We're hoping he can bring those platforms back to use," he added. "One of the things we hope would be to build the bank up to finance more loans through there."

Carl Icahn heads investment firm Icahn Associates, which purchased CIT and lobbied for changes when CIT went through bankruptcy restructuring last year. After CIT Group came out of bankruptcy, debt holders like Icahn Associates received equity, making Icahn Associates one of CIT Group's biggest shareholders.

Sean Egan, president of rating agency Egan-Jones Ratings, also spoke positively of John Thain's appointment.

"He has a skill set very few other executives have, combined with the gravitas to enable CIT to rapidly evaluate and correct its problems," Egan said. "The breadth and depth of his relevant experience is unmatched."