CIT Expands Business Capital's Business Development Team

NEW YORK, June 26, 2018 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced it is expanding its Business Capital team with the addition of two business development officers to help support growth initiatives for business technology solutions.

"Expanding our business development team will enable us to drive our growth agenda and continue to be a leader in technology solutions," said John Paradisi, chief growth officer and head of business development for Business Capital.

"As the market continues to evolve toward technology managed services, CIT's innovative structures and solutions will help customers quickly transition to the technology infrastructure of their choice," Paradisi added. "These additions to our business development team will enable us to deliver the expertise and financing needed to meet that demand."

Aaron Kaplan joins CIT as vice president of sales and business development in technology for CIT's Equipment Finance unit with focus on the vendor channel. Kaplan has a background in technology sales and experience growing mid-market and small business finance volume through the reseller community. Kaplan was instrumental in the development and rollout of programs at Dell EMC and Hewlett Packard Financial Services.

Also joining CIT is Mike Hampton as vice president of business development in technology for CIT's Equipment Finance unit with focus on the OEM space. Hampton is based in Silicon Valley but covers the entire U.S. with particular focus on manufacturers looking to leverage financing options to grow their business. Hampton brings deep experience in financial services in the OEM captive environment with positions at Cisco Capital, Apple and Juniper Networks.

Separately, Business Capital is also expanding the role of Chris Wren, vice president of business development franchise strategy, to encompass consumer-facing, multi-unit businesses in restaurants, hospitality and other franchised segments.

In this role, Wren will leverage his 17 years of experience at Yum Brands, parent company for KFC, Taco Bell and Pizza Hut. During his tenure at Yum, Wren worked in positions of increasing responsibility roles in domestic and international finance, strategy, franchising and business development. His prior experience also includes working for Dine Brands Global, parent of IHOP and Applebee's, where he led their international franchising and development efforts.

CIT's Business Capital division empowers small, mid and large cap businesses by providing equipment financing solutions via market-leading technology-enabled platforms and innovative structuring expertise.

About CIT  
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of March 31, 2018. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. 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. For more information, visit cit.com and follow us on Twitter, LinkedIn, YouTube and Facebook.

CIT MEDIA RELATIONS:               
John M. Moran 
212-461-5507 
john.moran@cit.com

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SOURCE CIT Group Inc.