CIT names Chai president

CIT Group Inc. (NYSE: CIT), a provider of financing to small businesses and middle market companies, has named Nelson J. Chai as president. 

Chai previously served as the company’s executive vice president, chief administrative officer and head of strategy. As president, Chai will maintain his current responsibilities and also assume oversight of CIT’s corporate finance and vendor finance operating segments. He will continue to report directly to chairman and CEO John A. Thain.

In addition to his expanded responsibilities, Chai will continue to oversee CIT’s global infrastructure and operating architecture including its technology platforms. He will also continue to lead the company’s strategic planning and business development, as well as oversee the insurance and corporate services functions.

Prior to CIT, Chai served as executive vice president and CFO of Merrill Lynch & Co. Inc. Before this, he was executive vice president and CFO of NYSE Euronext and its predecessor company NYSE Group, Inc., and was CFO of Archipelago Holdings. 

Source:  CIT Group Inc.



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