NEW YORK, Oct. 5, 2017 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT), today announced that Marc Adelson has joined the company's Commercial Services business as managing director and Northeast regional manager. In this position, Adelson will manage the largest region for the Commercial Services business and be responsible for new business development and portfolio management. He will report to CIT's president of Commercial Services, Marc Heller.
"Adelson's 30 years of experience in financial services and lending makes him a valuable addition to the team," said Heller. "The Northeast Region is where we have many longstanding client relationships and is also an area where we will continue to pursue growth and diversification initiatives."
"I'm excited to play an integral role in delivering value for our clients and helping to sustainably advance business in the Northeast," said Adelson.
Adelson joins CIT from Monroe Capital where he was a managing director responsible for middle market originations. Prior to that, he held senior positions with Medallion Financial, Capital Business Credit and Getzler Henrich & Associates. From 2000 to 2008, Adelson served as a co-head of business capital for CIT's asset based lending group, and then as senior managing director of CIT Group UK, London, England.
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $50 billion in assets as of June 30, 2017. 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. 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.
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SOURCE CIT Group Inc.