CIT Group Inc. (NYSE:CIT),, a leading provider of commercial lending and leasing services, today announced the appointment of Stuart Alderoty, 57, as Executive Vice President, General Counsel and Corporate Secretary. Mr. Alderoty will join CIT from HSBC North America Holdings, Inc. where he served as General Counsel since November of 2010. Mr. Alderoty will begin at CIT once he completes his garden leave from HSBC. He will serve on CIT's Executive Management Committee and report directly to Chief Executive Officer  Ellen R. Alemany.

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"We are excited to have a lawyer of Stuart's caliber join CIT as General Counsel and Corporate Secretary," said Ms. Alemany. "Not only is Stuart a trusted counselor with vast experience in managing complex legal matters, he also brings a wealth of banking and regulatory expertise to support CIT's strategic growth in the years to come."

Mr. Alderoty commented, "CIT is a company with a rich history of providing financing solutions to the middle market. I'm excited to join the team and contribute my skills as the company continues to expand its banking platform and grows into a leading national middle market bank."

Before joining HSBC, Mr. Alderoty was Managing Counsel at American Express and before that he was a partner with the law firm of LeBouef, Lamb, Green and MacRae, specializing in litigation. Mr. Alderoty serves on the Board of the Minority Corporate Counsel Association, a not-for-profit association that advocates for the expanded hiring, retention and promotion of minority attorneys in corporate law departments and the law firms that serve them. He also serves on the Board of the Count Basie Theatre, a not-for-profit community arts center in Red Bank, New Jersey. In addition, Mr. Alderoty is on the advisory committee of the Corporate Law Center at Rutgers University Law School.

Mr. Alderoty will succeed Robert Ingato, who will continue as a strategic advisor until year-end.


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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 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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