Mr. Thain commented, "It's been a pleasure to lead an outstanding group of employees over the past five years and oversee CIT's successful restructuring. Their hard work and commitment were critical to our efforts to rebuild and grow CIT and has helped ensure that CIT continues to play an important role in supporting small and middle market businesses, two sectors that remain the backbone of the U.S. economy."BACKGROUND ON ELLEN R. ALEMANY Ellen R. Alemany has been a CIT Director since January 2014 and is a member of the Audit and Regulatory Compliance Committees. She is also a member of the CIT Bank, N.A. Board of Directors. 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, Alemany served as Chief Executive Officer for Global Transaction Services of Citigroup. She held a number of senior positions during her tenure at Citigroup including Executive Vice President for the Commercial Business group, 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 Executive Vice President of Citibank 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. (FIS), Automatic Data Processing, Inc. and the Center for Discovery. BACKGROUND ON CAROL HAYLES As CFO, Hayles will serve as the Company's Principal Financial Officer and oversee all financial operations including the Accounting, Planning, Tax, Treasury and Investor Relations departments.
Previously she served as Executive Vice President and Corporate Controller where she was the Company's Principal Accounting Officer responsible for the Company's accounting functions, SEC and regulatory reporting and the associated controls activities.Prior to CIT, Hayles spent 24 years at Citigroup Inc. where she served as Deputy Controller, leading the SEC and regulatory reporting functions. Before this, she held various leadership positions in Finance, including Senior Analyst in Investor Relations, Chief Financial Officer of Citibank's e-Business, CFO of Citigroup's Global Relationship Bank and CFO of Citibank Canada. During her tenure in Canada, she also worked in internal audit, real estate lending and other finance positions. She began her career at Price Waterhouse in Toronto, Canada. She received her BBA from York University. EDITOR'S NOTE: CIT thought leadership content can be found at View from the Middle™ ( cit.com/viewfromthemiddle) and our CIT Point of View blog ( cit.com/pov). View our corporate video ( cit.com/corporatevideo) and follow us on Twitter, LinkedIn, YouTube and Facebook. Register to receive press releases at cit.com/newsalerts. About CIT Founded in 1908, CIT (NYSE: 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 more than 30 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