CIT Names Chief Risk Officer; Promotes Chief Credit Officer

NEW YORK, May 25, 2018 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) announced that it has named Wahida Plummer as its chief risk officer responsible for all enterprise risk. In addition, the company has promoted its Chief Credit Officer Marisa Harney to an expanded role leading all credit risk. Both leaders will report to CIT Chairwoman and Chief Executive Officer Ellen R. Alemany and serve on the company's Executive Management Committee, effective immediately. CIT's former Chief Risk Officer Robert Rowe has elected to leave the company to pursue other career opportunities and will remain with CIT over the coming weeks to ensure a smooth transition.

"Both Wahida and Marisa are strong leaders with deep expertise in risk management for larger banking institutions. I'm pleased to have them take on these roles as CIT continues to evolve and deliver on its strategic plan," said Alemany. "I want to thank Rob for his leadership at CIT and for creating a strong risk management foundation. With dedicated leaders for both enterprise risk and credit risk, we will be able to further build on that foundation and support robust risk management processes as we advance our business."

Plummer joined CIT in 2017 as the executive vice president in charge of regulatory matters and enterprise risk. Prior to joining CIT, Plummer had a nearly 20-year career in risk and compliance for financial institutions. She began her career at Citigroup and held a number of risk positions in the Global Transaction Services and CitiCapital divisions. She then joined RBS, Americas and served in several risk, credit and compliance roles. Most recently she served as the head of the risk program office for Wells Fargo's Consumer Lending Group. 

Harney joined CIT in 2016 as executive vice president and chief credit officer with responsibility for transaction credit approval and credit policy, process and governance. In this expanded role, she also has responsibility for model development and is co-chair for the Allowance for Loan and Lease Losses Committee. Prior to joining CIT, Harney served as chief risk officer for GE Capital Americas. She previously served as head of corporate credit risk of the Americas for Bank of America after spending 11 years in various roles of increasing responsibility in both the credit and risk departments. Earlier in her career she served as unit head for Chemical Bank's and CIBC World Markets' Media & Telecom groups and as a senior credit executive for Credit Suisse First Boston.

About CIT
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of March 31, 2018. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. 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. For more information, visit cit.com. 

Contacts:

CIT MEDIA RELATIONS: 
Gina Proia 
212-771-6008 
Gina.Proia@cit.com

CIT INVESTOR RELATIONS: 
Barbara Callahan 
(973) 740-5058 
Barbara.Callahan@cit.com

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SOURCE CIT Group Inc.