CIT Appoints Marc Heller President of CIT Commercial Services, Effective February 1, 2016, Following Retirement of Current President Jon Lucas

NEW YORK--(BUSINESS WIRE)--

CIT Group Inc. CIT, cit.com, a leading provider of commercial lending and leasing services, today 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 directly to Steve Solk, President of CIT Business Capital.

"Marc has performed an integral role helping to finance the consumer products community for more than 40 years," said Solk. "He's also played an important role within CIT Commercial Services and is well regarded for developing and growing client relationships and for delivering best-in-class financing solutions. I'm looking forward to working with Marc and his team as they continue to develop and expand our factoring and financing platform."

Prior to being appointed President of CIT Commercial Services, Heller served as the Northeast Regional Manager and International Manager for the business unit. He joined CIT in January 2004 when CIT acquired the factoring portfolio of HSBC. He had previously held the position of Executive Vice President and New York Regional Manager of HSBC Business Credit (USA) Inc. Heller had been with HSBC and its predecessor, Republic Business Credit Corporation, since 1991 and has been in the financial services industry since 1970.

Heller is a recipient of a number of industry awards, including the Financial Services Industries Award from the American Jewish Congress, the Partners in Kindness Award from Sephardic Bikur Holim and the Community Achievement Award from ORT. He has been honored with the Leadership in Education Award from the New York Institute of Credit, and the Top Hat Award from the National Association of Credit Management.

Solk added, "I also want to thank Jon for his dedication and commitment to the industry. His leadership and contributions over the last two decades have been instrumental to CIT Commercial Services' success as one of the nation's leading providers of factoring and financing to consumer product companies. We wish him the very best in his upcoming retirement."

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About CIT

Founded in 1908, CIT CIT is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) 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 a wide variety of 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. cit.com

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