CIT Group Inc. (NYSE:CIT), cit.com, a leading provider of commercial lending and leasing services, today announced the appointment of Ed Sperling (51) as Executive Vice President, Corporate Controller for CIT Group Inc. and CIT Bank N.A. He will report directly to Chief Financial Officer Carol Hayles.

"I'm pleased to announce Ed's promotion to the role of Controller. His career at CIT has spanned nearly three decades and this appointment demonstrates the depth of our finance team," said Hayles. "As a key member of the Controller's leadership team, Ed led the centralization of CIT's Global Accounting Operations and core finance functions, and built a strong control framework for the Company's accounting and reporting processes. More recently, he has been instrumental in the finance integration of OneWest Bank."

Sperling will serve as the Company's Principal Accounting Officer and will be responsible for managing the Controller's organization, including SEC and regulatory reporting.

Prior to being named to this position, Sperling was a Senior Vice President and Deputy Controller. Sperling has held numerous leadership roles at CIT in Corporate Accounting, Internal Audit, Credit, Financial Planning & Analysis, Investor Relations, Technology and Treasury.

Sperling holds a BS in Accounting from Rutgers University and an MBA in Finance from Seton Hall University.

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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

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