CIT Group Inc. (NYSE: CIT),, a leading provider of commercial lending and leasing services, today announced that CIT Commercial Services appointed Darrin Beer as Western Regional Sales and Portfolio Manager. In this role, Beer will lead CIT Commercial Services activities in the Western United States. He will continue to be based in Los Angeles and report to Marc Heller, President of CIT Commercial Services.

"Darrin has more than 25 years of financial services experience and has been an important member of our Commercial Services team since 1999," said Heller. "He brings tremendous knowledge and experience to this new role and will provide strong leadership to the Western regional team as we continue to offer excellent service to our new and long-standing clients in the region."

Beer said, "I am excited to be taking on the management of CIT Commercial Services' Western regional team. I look forward to working with this team of seasoned professionals to continue to provide financial services that help consumer product companies grow and further build our relationships throughout the region."

In his previous role with CIT Commercial Services, Beer served as Western Regional Client Credit Manager, where he oversaw the client loan portfolio for the region and grew client relationships. Beer joined CIT in 1999 when CIT acquired the factoring portfolio of Heller Financial, Inc. He previously held the position of Senior Account Executive at Heller Financial. Prior to that, Beer was a Leasing Broker with Financial Industry Consultants. He has been in the financial services industry since 1990.


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About CIT Commercial Services

CIT Commercial Services is one of the nation's leading providers of factoring and financing to consumer product companies. It tailors financial solutions that help companies of all sizes increase sales, improve cash flow, reduce operating expenses and eliminate customer credit losses. Its clients (vendors) range in size from $2 million to $1 billion in annual sales and sell to a broad range of public and private retailers across the nation and abroad. Its Internet-based platform provides clients with real-time credit approvals and comprehensive accounts receivable information.

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 a wide variety of 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.

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