An earlier version of this story incorrectly stated Chai was named CIT's chief financial officer.
NEW YORK (TheStreet) -- CIT Group(CIT) announced two executive hires Monday as new CEO and Chairman John Thain continues his revamp of the lender to small and medium-sized businesses.Thain appointed Nelson Chai as chief administrative officer and head of strategy, marking at least the third time the duo has collaborated. Previous companies where they worked together with Thain as CEO and Chai as CFO were NYSE Group(NYX) and Merrill Lynch, prior to its acquisition by Bank of America(BAC). CIT Group, which emerged from Chapter 11 bankruptcy protection last year, also added Robert Rowe as chief credit officer. Rowe previously worked at FirstMerit Corp.(FMER) and National City. CIT shares were up 1% to $37.19 in recent trades. Year-to-date, the stock had gained 33.3% through Friday's close. -- Written by Dan Freed in New York.>To order reprints of this article, click here: Reprints
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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| 12,890.46 | 1,351.95 | 2,927.23 | 20.47 |
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