Prior to Ally, Duffy was the Chief Human Resources Officer at CIT Group Inc.Prior to joining CIT in 2006, he was the Senior Vice President of Human Resources for Citigroup's Global Consumer Group—a $13 billion business promoting a full range of consumer products, such as retail banking, credit cards, consumer finance, student loans, and mortgages, in more than 50 countries, through more than 200,000 employees. Before joining Citigroup, Duffy held senior HR positions at other major banking and manufacturing companies such as AlliedSignal, Ingersoll-Rand, Banker's Trust, and GE. EDITOR'S NOTE: CIT thought leadership content can be found at the Knowledge Center on CIT.com ( cit.com/knowledgecenter) 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 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. cit.com
CIT Group Inc. (NYSE:CIT), cit.com, a leading provider of commercial lending and leasing services, today announced the appointment of James J. (Jim) Duffy (62) as Executive Vice President and Chief Human Resources Officer, effective immediately. Duffy, who previously held the role of Global Head of Human Resources at CIT prior to leaving in 2010, will serve on the company's Executive Management Committee and report directly to Chief Executive Officer Ellen R. Alemany. "We're pleased to have Jim return to CIT. He is an accomplished senior executive with more than 40 years of diverse responsibilities and valuable experience leading and managing Human Resources functions," said Alemany. "Jim has a strong record and proven approach to helping companies improve talent acquisition and retention. His skills enhancing performance and total rewards management and diversity and inclusion programs will help drive profitable growth, deliver shareholder value and fuel employee engagement." Mr. Duffy will also advance strategies and programs to help promote a corporate culture that aligns employees with CIT's business goals, facilitates sustained growth, and complies with heightened regulatory requirements. "I'm excited to bring my experience and knowledge back to CIT. This is a great organization that I'm proud to have the opportunity to help support through enriched HR processes and programs," said Duffy. Duffy serves on the Board of Jobs for America's Graduates and is a longtime supporter and sponsor of the Center for Advanced Human Resource Studies at Cornell University. He's a member of the Human Resources Policy Association, the Chief Human Resources Advisory Board, Center for Executive Succession, University of South Carolina, and the Chief Human Resources Officer Board of i4cp. He earned a B.S. in Industrial and Labor Relations from Cornell University. James J. (Jim) Duffy - Biography Mr. Duffy was previously Chief Human Resources Officer at Ally Financial Inc., where he led large-scale change, cultural and organizational, while developing and retaining best-in-class talent. His responsibilities encompassed all of the traditional elements of HR, including compensation, staffing, leadership development and talent management, talent acquisition, employee relations, and organizational development.