Edition:
India

CIT Group Inc (CIT.N)

CIT.N on New York Stock Exchange

49.14USD
14 Dec 2017
Change (% chg)

$-1.18 (-2.34%)
Prev Close
$50.32
Open
$50.35
Day's High
$50.36
Day's Low
$48.86
Volume
306,370
Avg. Vol
322,605
52-wk High
$51.73
52-wk Low
$39.49

Summary

Name Age Since Current Position

Ellen Alemany

61 2016 Chairwoman and Chief Executive Officer of CIT Group and Chairwoman, CEO and President of CIT Bank

John Fawcett

58 2017 Chief Financial Officer, Executive Vice President

George Cashman

President - CIT Rail

Matthew Galligan

63 2015 President - CIT Real Estate Finance

James Hudak

52 President - CIT Commercial Finance

Steven Solk

61 2016 President of Consumer Banking, President, California and President, CIT Business Capital

James Duffy

56 2016 Executive Vice President and Chief Human Resources Officer

Gina Proia

2016 Executive Vice President, Chief Marketing and Communications Officer

Robert Rowe

55 2016 Executive Vice President, Chief Risk Officer

Stuart Alderoty

57 2016 Executive Vice President, General Counsel, Corporate Secretary

Kenneth McPhail

2017 Executive Vice President and Chief Strategy Officer

Denise Menelly

Executive Vice President and Head of Technology and Operations

Heather Ellison

2017 Senior Vice President and Head of the Retail Branch Banking channel

John Ryan

71 2008 Lead Independent Director

Michael Brosnan

58 2016 Director

Michael Carpenter

69 2016 Director

Khanh Tran

61 2017 Director

Dorene Dominguez

54 2017 Independent Director

Alan Frank

65 2015 Independent Director

William Freeman

64 2003 Independent Director

R. Brad Oates

63 2009 Independent Director

Marianne Parrs

73 2003 Independent Director

Gerald Rosenfeld

70 2010 Independent Director

Sheila Stamps

59 2014 Independent Director

Laura Unger

56 2010 Independent Director

Barbara Callahan

2016 Senior Vice President and Head of Investor Relations

Biographies

Name Description

Ellen Alemany

Ms. Ellen R. Alemany is Chairwoman and Chief Executive Officer of CIT Group and Chairwoman, CEO and President of CIT Bank subsidiary of the company. She is the former head of The Royal Bank of Scotland (RBS) Americas, the management structure that oversees RBS' businesses in the Americas. She also served as chairman and chief executive officer for RBS Citizens Financial Group, Inc. Prior to RBS, she served as chief executive officer for Global Transaction Services at Citigroup. Alemany held a number of senior positions during her tenure at Citigroup, including executive vice president for Commercial Business and president and CEO of CitiCapital. She also held a number of executive positions in Citigroup's Global Corporate Bank, including customer group executive of North American markets, global industry head of Media and Communications, U.S. industry head of Consumer Products, and customer group executive for the Global Relationship Bank in Europe, based in London. Alemany received her MBA in finance from Fordham University. She serves on the boards of Fidelity National Information Services, Inc., Automatic Data Processing, Inc. and the Center for Discovery.

John Fawcett

Mr. John Fawcett is Chief Financial Officer, Executive Vice President of the Company. He was Executive Vice President and advisor of the Company from April 17, 2017 to May 2017. Mr. Fawcett served as Chief Financial Officer at Citizens Financial Group (“CFG”) and Royal Bank of Scotland (“RBS”) Americas from 2007 through 2015. Prior to RBS Mr. Fawcett was a senior officer with Citigroup, where he served as CFO Global Transaction Services from 2005 until 2007, CFO Commercial Markets Business from 2003 until 2005, Head of Financial Planning and Analysis from 2001 until 2003. Prior to that Mr. Fawcett held a number of executive positions in Citigroup and Citibank including CFO and Business Unit Manager, FX , Treasury, Warrants and Structured Products; CFO and Business Unit Manager, Global Trading and Capital Markets; CFO and Business Unit Manager, Global Derivatives and CFO and Business Unit Manager, North America Derivatives. Mr. Fawcett served on the board of directors of Rabobank since 2016 and has recently resigned from the board. He earned a Bachelor of Science degree in accounting and Master’s degree in business administration, both from St. John’s University.

George Cashman

Mr. George Cashman is President - CIT Rail of the company. He joined CIT in January 2000 as Senior Vice President and was promoted to Executive Vice President in July 2001. He was subsequently promoted to his current position in August 2006. His areas of expertise include rail and shipping industry trends and railcar types and leasing. Prior to joining CIT, he was Senior Vice President of PSE&G Energy Services, responsible for developing a captive finance company for this unregulated energy services subsidiary of PSE&G. Before PSE&G, Cashman was President and Co-Founder of Glenshaw Capital, an investment advisory company. He spent the majority of his career with Westinghouse Financial Services, where he served in a variety of management positions, including most recently as Executive Vice President and Group Manager - Major Industries Finance. In this role, he developed industry verticals in the Transportation, Energy and Media markets. Prior to joining Westinghouse in 1984, Cashman held a number of positions with GTE, including co-founding its captive finance company. He received a BS degree in Finance and Economics from Susquehanna University and an MBA from the College of William and Mary.

Matthew Galligan

Mr. Matthew Galligan is President - CIT Real Estate Finance of the Company. He is President of CIT Real Estate Finance. His group provides stabilized, value-add and construction loans between $20 million and $50 million to highly experienced and well-capitalized developers in the office, retail, industrial and multi-family rental sectors. Galligan’s areas of expertise include commercial real estate finance and commercial, construction, bridge and acquisition loans. Galligan most recently served as managing director and head of U.S. Property Finance for Bank of Ireland where, under his leadership, his team negotiated and closed more than 30 transactions totaling $2 billion. Before joining Bank of Ireland, Galligan served as executive vice president for Real Estate Capital Markets at DebtX. He has also worked for Fleet Boston Financial, Bank of Boston and Chase Manhattan in executive-level positions in credit, real estate lending, debt distribution and capital markets. Galligan sits on the Commercial Real Estate Board of Governors for the Mortgage Bankers Association and serves on the Board of Directors of Habitat for Humanity New York City. Galligan received a BA in Economics/Accounting from the College of the Holy Cross and an MBA in Finance from New York University Stern School of Business.

James Hudak

Mr. James L. Hudak is President - CIT Commercial Finance of the Company. He He has more than 25 years of experience in corporate and leverage banking, specifically targeting middle-market companies. He has served in a number of capacities on the credit, underwriting and origination sides. Hudak’s areas of expertise include private equity and M&A trends, capital markets and trends and convergence in the media, information services and technology, entertainment and gaming, sports and communications sectors. In the mid-1980s, Hudak started his career in a commercial real estate bank training program at Philadelphia National Bank. Hudak was soon working at Merrill Lynch, followed by Citibank, where he worked in the Leveraged Finance division, leading many middle-market transactions. In 1991, he joined AT&T Capital in its Capital Markets Division and focused on large project financings and leverage leases. He soon joined with a partner and co-founded AT&T Capital's Telecom Group, eventually augmenting it with media, entertainment and other technology sector capabilities. Over the years, Hudak successfully guided the group through several accretive acquisitions, including Nomura, Newcourt Capital, Tyco and CIT. For the past six years, Hudak has run the Corporate Finance Group at CIT, which comprises leading industry verticals in Aerospace & Defense, Commercial & Industrial, Communications, Media & Entertainment, Energy and Healthcare. The group is dedicated to servicing the specialized financing and advisory needs of small- and middle-market companies in the U.S. and Canada. Hudak received a BA from Bucknell University and an MBA from Cornell University. He is a former officer in the U.S. Army and Army Reserves.

Steven Solk

Mr. Steven Solk is President of Consumer Banking, President, California and President, CIT Business Capital of the Company. He is responsible for CIT's Consumer Banking division, Direct Capital, Capital Equipment Finance, Equipment Finance, and Commercial Services businesses. He is also a member of CIT's Executive Management Committee. Previously, Solk was an executive vice president of Commercial Finance at RBS Citizens Bank and a member of Citizens' Executive Leadership Group. In this role, he was responsible for executing growth strategies for four commercial banking specialty businesses, which included Franchise Finance, Business Capital, Asset Finance and Commercial Real Estate. Prior to RBS, Solk served in several executive roles in the financial sector, including more than 20 years at Citibank, where, he managed multiple lending and leasing specialty businesses and attained leading market positions in core target markets. Solk began his career at Bank of America, where he underwrote and managed corporate relationships. Solk earned a BA in Finance from Arizona State University.

James Duffy

Mr. James Duffy is Executive Vice President and Chief Human Resources Officer of the company. He is responsible for overseeing the human resources function, including the development and implementation of the company's global employee talent programs, employment policies, compensation and benefits. Duffy was previously chief human resources officer at Ally Financial Inc., where he was responsible for HR, including compensation, staffing, leadership development, talent management, and acquisition, employee relations and organizational development. Prior to Ally, Duffy was the chief human resources officer at CIT Group Inc. Prior to joining CIT in 2006, he served as senior vice president of Human Resources for Citigroup's Global Consumer Group, a $13 billion business offering a full range of consumer products with more than 200,000 employees in 50 countries. Before joining Citigroup, Duffy held senior HR positions at other major banking and manufacturing companies, including AlliedSignal, Ingersoll-Rand, Bankers Trust and GE.

Gina Proia

Ms. Gina M. Proia is Executive Vice President, Chief Marketing and Communications Officer of the Company. She is responsible for overseeing the company’s branding, marketing, advertising, communications and corporate citizenship strategies as well as ensuring they support CIT’s strategic priorities. She is also responsible for advancing strategies and programs to help promote a corporate culture that aligns employees with CIT’s business goals, facilitates sustained growth, and complies with regulatory requirements. Proia joins CIT following 10 years at Ally Financial, where she served most recently as Chief Communications Officer. She has served as a board member of Jump$tart Coalition, a national nonprofit organization advancing financial education for young people. She is also a member of the Arthur W. Page Society. In 2010, Proia was recognized on PR Week’s 40 Under 40 List, and in 2015 she received the Aiming High Award from Legal Momentum, the Women’s Legal Defense and Education Fund, which recognizes the accomplishments of women in business. Prior to joining Ally, Proia held various positions at General Motors in the areas of financial communications, marketing communications, and product publicity.

Robert Rowe

Mr. Robert C. Rowe is Executive Vice President, Chief Risk Officer of the Company. He is responsible for independent oversight of the company's Risk Management, including Credit Administration, Enterprise Risk, Compliance and Credit Review. Rob has been with CIT for five years. Previously, he served as CIT's Chief Credit Officer. Prior to joining CIT, Rowe served as chief credit officer of National City Bank after spending 20 years in various roles of increasing responsibility in its Corporate Banking and Credit departments. While at National City, he also served as division head of the Equity Sponsor Group and had transaction approval responsibility for various segments that included Leveraged Finance and Asset-Based Lending. Rowe received a BA degree in Economics from Boston College and an MBA in Finance from Indiana University.

Stuart Alderoty

Mr. Stuart A. Alderoty serves as Executive Vice President, General Counsel, Corporate Secretary of the Company. He is the Chief Legal Officer, responsible for overseeing all legal, corporate governance and insurance risk management matters for CIT and its operating groups. Alderoty joined CIT from HSBC North America Holdings, Inc., where he has served as general counsel for six years. Prior to joining HSBC, Alderoty was managing counsel at American Express, and before that he was a partner with the law firm of LeBouef, Lamb, Green and MacRae, specializing in litigation. Alderoty serves on the board of the Minority Corporate Counsel Association, a not-for-profit association that advocates for the expanded hiring, retention and promotion of minority attorneys in corporate law departments and the law firms that serve them. He also serves on the board of the Count Basie Theatre, a not-for-profit community arts center in Red Bank, New Jersey. Alderoty is also a member of the advisory committee of the Corporate Law Center at Rutgers University Law School.

Kenneth McPhail

Mr. Kenneth McPhail is Executive Vice President and Chief Strategy Officer of the company. He joins CIT from MUFG Union Bank where he was the managing director and head of Corporate Strategy and Development. Prior to that role, he served as the co-head of Depository Institutions at Bank of America Merrill Lynch where he was a strategic advisor to international and regional bank holding companies. McPhail was at Citigroup as the head of Depository Institutions from 1995 to 2006 and began his career at The First Boston Corporation in 1985. He received his bachelor's degree in economics from Brown University.

Denise Menelly

Ms. Denise M. Menelly is Executive Vice President and Head of Technology and Operations of the Company. Previously, Menelly spent six years with Bank of America Merrill Lynch, most recently as head of Enterprise Shared Services. In this role she managed and transformed functions shared by the bank's corporate, commercial and consumer business lines. She joined Bank of America in 2010 as the chief operating officer for Corporate Banking and then became the global head of Commercial and Corporate Bank Operations, managing functions in more than 28 countries. Menelly implemented positive change in each role through digitization, process simplification, performance improvement, risk reduction, business alignment and talent management. Prior to joining Bank of America, Menelly served as the head of operations for RBS Citizens and vice chairman of Citizens Bank. In these roles her responsibilities included the U.S.-based banking operations for Consumer Banking, Commercial Banking and Global Transaction Services. From 1996 to 2008, Menelly worked at Citigroup, implementing technology and process changes while increasing her responsibilities in various Operations and Technology roles. These included global head of Securities & Fund Services (SFS) Operations and Client Delivery, head of operations for the Commercial Business Group, head of CitiCapital Operations, head of Global Transaction Services Client Delivery and head of Domestic Cash Management Operations. Menelly began her career with Bankers Trust Company in 1983 and spent the next 13 years managing various operations and technology functions. When she left in 1996, she was the director of Operations and the head of Global Treasury and Trade Operations. Menelly has been a champion for women in business and has played leadership roles in organizations and programs designed to help women succeed.

Heather Ellison

Ms. Heather Ellison is Senior Vice President and Head of the Retail Branch Banking channel of the Company. Ellison joins CIT from JPMorgan Chase where she was most recently the Southwest regional director for consumer banking and wealth management. Prior to that position, Ellison served as market director and oversaw $3 billion in assets, including six of the company's top branches. Prior to joining JPMorgan Chase, Ellison spent 14 years with Wells Fargo in several roles, including as a district manager, branch manager and financial advisor.

John Ryan

V. Adm. John R. Ryan, Jr., is Lead Independent Director of the Company. He has served as a director of CIT since July 2003 and was appointed lead director (“Lead Director”) by the Board in May 2008. Mr. Ryan has been President and Chief Executive Officer of the Center for Creative Leadership in Greensboro, North Carolina since May 2007. Previously, Mr. Ryan served as Chancellor of the State University of New York from June 2005 to June 2007. Mr. Ryan also served as President of the State University of New York Maritime College from June 2002 until June 2005 while also serving as the Interim President of the State University of New York at Albany from February 2004 until February 2005. From 1998 to 2002, Mr. Ryan was Superintendent of the U.S. Naval Academy, Annapolis, Maryland. Mr. Ryan served in the U.S. Navy from 1967 to July 2002, including as Commander of the Fleet Air Mediterranean in Naples, Italy from 1995 to 1998, Commander of the Patrol Wings for the U.S. Pacific Fleet in Pearl Harbor from 1993 to 1995, and Director of Logistics for the U.S. Pacific Command in Aiea, Hawaii from 1991 to 1993. Mr. Ryan currently serves as Lead Director and member of the Compensation Committee and Chair of the Corporate Governance & Nominating Committee of Barnes & Noble Education, Inc., and has previously served as a Director and member of the Audit Committee of Cablevision Systems Corporation.

Michael Brosnan

Mr. Michael L. Brosnan is Director of the Company. He has served as Examiner-In-Charge for Midsize Bank Supervision at the Office of the Comptroller of the Currency (“OCC”) from May 2013 to May 2016. Prior to that he was Senior Deputy Comptroller for Large Bank Supervision from December 2010 to April 2013. In addition, he served as a member of the OCC’s Executive Committee and the Committee on Bank Supervision. From 2004 to 2008, Mr. Brosnan served in executive management roles at MBNA and Bank of America, including Enterprise Operational Risk Executive responsible for risk management of the Global Technology and Operations, Chief Administrative Office, and Supplier Risk Management organizations of the bank. Mr. Brosnan previously served as Compliance Executive for Bank of America Card Services, and he oversaw the Operational Risk Management Division of MBNA America. Prior to his tenure with MBNA and Bank of America, Mr. Brosnan spent 21 years with the OCC. In 2003, he was named Senior National Bank Examiner, the highest honor and designation available to bank examiners. Mr. Brosnan received a bachelor of science degree and an MBA from Lynchburg College in Virginia. He also earned the Chartered Financial Analyst designation. Mr. Brosnan also serves as a director of CIT Bank, N.A. Qualifications: Mr. Brosnan provides the Board with experience in executive management, finance, commercial banking, and enterprise risk management, key areas for certain of CIT’s businesses. His experience as Examiner-In-Charge and Senior Deputy Comptroller at the OCC provides the Board with invaluable regulatory and executive management experience.

Michael Carpenter

Mr. Michael A. Carpenter is Director of the company. He has served as Chief Executive Officer of Ally Financial, Inc. from November 2009 to February 2014 and as a member of its Board of Directors from May 2009 to February 2014. Mr. Carpenter previously served on the CIT Board in 2009, a position he left to become Chief Executive Officer of Ally Financial, Inc. In 2007, he founded Southgate Alternative Investments. From 2002 to 2006, he was chairman and chief executive officer of Citigroup Alternative Investments overseeing $60 billion of proprietary capital and customer funds globally. From 1998 to 2002, Mr. Carpenter was chairman and chief executive officer of Citigroup’s Global Corporate & Investment Bank with responsibility for Salomon Smith Barney Inc. and Citibank’s corporate banking activities globally. Prior to Citigroup, he was chairman and CEO of Travelers Life & Annuity and vice chairman of Travelers Group Inc. From 1989 to 1994, he was chairman of the board, president, and CEO of Kidder Peabody Group Inc., a wholly owned subsidiary of General Electric Company. From 1986 to 1989, he was executive vice president of GE Capital Corporation and he joined GE in 1983 as vice president of Corporate Business Development and Planning. Earlier in his career, Mr. Carpenter spent nine years as vice president and director of the Boston Consulting Group and three years with Imperial Chemical Industries of the United Kingdom. Mr. Carpenter received a bachelor of science degree from the University of Nottingham, England, and an MBA from Harvard Business School. He also holds an honorary degree of Doctor of Laws from the University of Nottingham. He serves on the boards of Autobytel Inc., U.S. Retirement Partners, and the New York City Investment Fund. Mr. Carpenter has previously served as a board member of the New York Stock Exchange, General Signal, Loews Cineplex, and various other private and public companies. Mr. Carpenter is also a director of CIT Bank.

Khanh Tran

Mr. Khanh T. Tran has been appointed as Director of the company effectiveJuly 27, 2017. Mr. Tran is the President and Chief Executive Officer and a Director of Aviation Capital Group LLC, a full service aircraft leasing and asset management company that is a wholly owned subsidiary of Pacific Life Insurance Company, positions he has held since January 2016. Previously, Mr. Tran served as President of Pacific Life Insurance Company, the principal operating subsidiary of Pacific Mutual Holding Company, from 2012 to 2015, as Chief Financial Officer and Chief Investment Officer from 2011 to 2012, as Chief Financial Officer from 1996 to 2011, and as Treasurer from 1990 to 1996. Mr. Tran previously served as a director of Pacific Life Insurance Company from 1997 to 2015, Pacific LifeCorp and Pacific Mutual Holding Company from 2012 to 2015, Prandium, Inc. from 2001 to 2002, Scottish Annuity & Life Holdings Ltd. from 2001 to 2004, and College Savings Bank from 2002 to 2012.

Dorene Dominguez

Ms. Dorene C. Dominguez is Independent Director of the Company. She currently serves as the Chairwoman and Chief Executive Officer of Vanir Group of Companies, Inc., and its subsidiaries Vanir Construction Management, Inc. and Vanir Development Company, Inc. Having a national presence in program, project, and construction management services, Vanir Construction Management is ranked #26 in revenue by Engineering News & Review. Ms. Dominguez is an active member of various community improvement projects, boards and commissions, including chair of The Dominguez Dream, which serves elementary schools in underserved communities by providing academic enrichment programs in math, science, language arts and engineering. She is a current member of the Latino Studies Board of Notre Dame University in South Bend Indiana, Pride Industries Board of Directors, Coca-Cola Hispanic Advisory Council and Cal Chamber Board, and sits on the Board of the University of Southern California, Lusk Center for Real Estate. Ms. Dominguez formerly served as a member of the American River Bank Board of Directors, the New America Alliance and the National Council of La Raza. Ms. Dominguez graduated from the University of Notre Dame and holds a bachelor’s degree in business finance. She also earned a Certificate for Corporate Governance from the Center for Business and Government, John F. Kennedy School of Government, Harvard University. Ms. Dominguez is also a director of CIT Bank, N.A. Qualifications: Ms. Dominguez provides the Board with extensive experience in executive management, finance, asset management and corporate governance.

Alan Frank

Mr. Alan Frank is Independent Director of the Company. He has served as a director of CIT since August 2015 and as a director of OneWest Bank N.A. from 2014 to 2015. Mr. Frank spent 40 years with Deloitte & Touche LLP and retired in December 2012. With Deloitte & Touche, he led audit service teams from 1983 to 2012 and he led the Southern California consumer business and middle market audit practices from 1986 through 2010. Mr. Frank has significant experience with mergers and acquisitions, financial reporting matters, initial public offerings, and high growth companies. Mr. Frank graduated from the University of Southern California with a Bachelor of Science Degree. Qualifications: Mr. Frank provides the Board with over 40 years of experience in external audit matters as a partner of a nationally recognized accounting firm.

William Freeman

Mr. William M. Freeman is Independent Director of the Company. He has served as a director of CIT since July 2003. Mr. Freeman retired in February 2010 as Chairman of the Board of Arbinet-thexchange, Inc., in which capacity he had served since November 2007. Previously, Mr. Freeman served as President and Chief Executive Officer and Director of Arbinet-thexchange, Inc. from November 2007 until September 2008. Prior to joining Arbinet-thexchange, Mr. Freeman was elected to the board of Motient Corp., (predecessor to TerreStar Corporation), in February 2007, and Chairman of Motient/TerreStar in March 2007. Mr. Freeman also served as Chief Executive Officer and Director of Leap Wireless International, Inc. from May 2004 to February 2005 and as President of the Public Communications Group of Verizon Communications Inc. from 2000 to February 2004. Mr. Freeman served on the Board of Directors of Summit Bancorp from 1999 to 2002. Mr. Freeman served as President and Chief Executive Officer of Bell Atlantic-New Jersey from 1998 to 2000, President and Chief Executive Officer of Bell Atlantic-Washington, D.C. from 1994 to 1998, and in a number of other executive and management positions at Verizon since 1974. Mr. Freeman was a founder and co-owner of Synthesis Security LLC, a closely held telecommunications company. Mr. Freeman currently serves, or during the preceding five years served, on the Board of Directors of TerreStar Corporation, the Board of Trustees of Drew University, and as a director of Value Added Holdings, Inc., a privately held communications company, is the Executive Chairman and shareholder of General Waters Inc., a privately held beverage marketing and distribution company, and Chairman of Celadon Global Inc., a privately held mergers and acquisitions research firm.

R. Brad Oates

Mr. R. Brad Oates is Independent Director of the Company. He has served as a director of CIT since December 2009. He currently serves as Chairman and Managing Partner of Stone Advisors, LP, a strategic advisory firm specializing in distressed asset situations, which is currently engaged as a contractor by the Federal Deposit Insurance Corporation (“FDIC”) to assist in resolving bank receiverships. Prior to joining Stone Advisors, Mr. Oates served from 1988 until 2003 as President and Chief Operating Officer of Bluebonnet Savings Bank FSB, responsible for bank operations and strategic planning in a bank turnaround situation, and as Executive Vice President of Stone Holdings, Inc., the holding company for Bluebonnet Savings Bank and a private investment company specializing in banking, information services, risk management and emerging technologies. Mr. Oates currently serves, or during the preceding five years served, as Chairman of the Board of Directors of Stone Advisory Holdings, LLC and NFC Global, LLC, a privately owned provider of due diligence, risk consulting and compliance services, and as a director of each of GearingStone, LLC, a special servicing company for distressed bank assets, and Neways Inc., a privately owned dietary supplement and personal care products company. Mr. Oates has been involved in the financial services industry for approximately 30 years, principally as a senior executive officer and director, with a particular expertise in bank risk management. Qualifications: Mr. Oates provides the Board with in-depth experience in successfully managing the turnaround of troubled financial institutions and a strong background in operating regulated commercial banks and strategic planning. His extensive experience in interacting with the FDIC and other bank regulators during his career provides the Board with insight into bank regulatory matters and supervisory expectations and communications. He also has experience in information technology and risk management.

Marianne Parrs

Ms. Marianne Miller Parrs is Independent Director of the Company. He has served as a director of CIT since January 2003. Ms. Parrs retired at the end of 2007 from International Paper Company where she had served as Executive Vice President and Chief Financial Officer since November 2005 and as interim Chief Financial Officer from May 2005 to November 2005. Ms. Parrs also has served as Executive Vice President with responsibility for Information Technology, Global Sourcing, Global Supply Chain — Delivery, a major supply chain project, and Investor Relations since 1999. From 1995 to 1999, Ms. Parrs served as Senior Vice President and Chief Financial Officer of International Paper Company. Previously, she served in a number of other executive and management positions at International Paper Company since 1974, and was a security analyst at a number of firms prior to joining International Paper Company. Ms. Parrs currently serves, or during the preceding five years served, on the board of United Way of the Mid-South, on the Board of Rise Foundation in Memphis, Tennessee, on the board of the New Memphis Institute, Memphis, on the Board of Directors and the Audit and Compensation Committee of Stanley Black & Decker, Inc., and on the Board of Directors, the Audit Committee and the Social Responsibility Committee of Signet Jewelers Limited.

Gerald Rosenfeld

Mr. Gerald Rosenfeld is Independent Director of the Company. He has served as a director of CIT since January 2010. Mr. Rosenfeld re-joined Lazard Ltd. as Vice Chairman of United States investment banking effective March 1, 2011. He was Deputy Chairman of Rothschild North America from 2007 to 2011 and served as its Chief Executive Officer from 1999 to 2007. Prior to joining Rothschild, he was President of G Rosenfeld & Co LLC, an investment banking firm. Prior to founding G Rosenfeld & Co LLC in 1998, he was Head of Investment Banking and a member of the Management Committee of Lazard Freres & Co. LLC. Mr. Rosenfeld joined Lazard in 1992 after holding significant management positions at Bankers Trust Company, Salomon Inc. and its Salomon Brothers subsidiary and McKinsey & Company. Prior to joining McKinsey, Mr. Rosenfeld was a member of the faculty of the City College of New York, New York University and the University of Maryland. Mr. Rosenfeld currently serves, or during the preceding five years served, as a member of the Board of Directors of Continental Grain Company, on the Board of Overseers of New York University’s Stern School of Business, where he also serves as an Adjunct Professor of Finance, as a Board member of the American Academy of Arts and Sciences, as a Board member of Catalist LLC, on the Board of Trustees of City College of New York Foundation, as a Trustee of the New York University School of Law, where he is also a Professor of Practice, and as a Director of the Charles H. Revson Foundation.

Sheila Stamps

Ms. Sheila A. Stamps is Independent Director of the Company. She currently serves as a Commissioner and Audit Committee Chair on the board of the New York State Insurance Fund, the largest worker’s compensation insurance provider in the State of New York, and on the Board of Directors of IES Abroad. She previously served as Executive Vice President at Dreambuilder Investments, LLC, a private mortgage investment company, from 2011 to 2012. She served from 2008 to 2011 as Director of Pension Investments and Cash Management at the New York State Common Retirement Fund, and from 2004 to 2005 as a Fellow at the Weatherhead Center for International Affairs at Harvard University. Prior to this, Ms. Stamps served as a Managing Director and Head of Relationship Management, Financial Institutions at Bank of America (formerly FleetBoston Financial Corporation). From 1982 to 2003, she held a number of executive positions with Bank One Corporation (now, JPMorgan Chase & Co.), including Managing Director and Head of European Asset-Backed Securitization and Managing Director and Senior Originator of Asset-Backed Securitization. She holds an MBA from the University of Chicago.

Laura Unger

Ms. Laura S. Unger is Independent Director of the Company. She has served as a director of CIT since January 2010. She served as Commissioner of the SEC from November 1997 to February 2002, including Acting Chairperson of the SEC from February to August 2001. Subsequently, she served as a Regulatory Expert for CNBC. Before being appointed to the SEC, Ms. Unger served as Counsel to the United States Senate Committee on Banking, Housing and Urban Affairs. Prior to working on Capitol Hill, she was an attorney with the Enforcement Division of the SEC. Ms. Unger currently serves, or during the preceding five years served, as a director of CA, Inc., Navient Corporation, certain privately held affiliates of Nomura Holding America Inc., Ambac Financial Group, Inc., the IQ Funds Complex, MBNA Corp. and Children’s National Medical Center. She also has acted as Special Adviser to Promontory Financial Group and as an Independent Consultant to JP Morgan Chase for the Global Analyst Conflict Settlement. Ms. Unger is also a director of CIT Bank, N.A.

Barbara Callahan