NEW YORK--CIT Group Inc. (NYSE:CIT), cit.com, a leading provider of commercial lending and leasing services, today announced the appointment of Michael Jones (51) as Managing Director of CIT Equipment Finance, effective September 25. Jones will be based in Jacksonville, Florida and will report to Steve Solk, President, CIT Business Capital.
“I’m excited to welcome Michael to CIT. He’s a high-performing executive with over 20 years of experience in equipment finance across a wide variety of industry verticals,” said Solk. “Michael’s finance, leadership, operations and sales expertise will all help support CIT Equipment Finance’s future growth and the evolution of our business strategy. Further, he will continue to provide the high level of service that our vendor finance customers have come to expect from CIT.”
Jones said, “It’s a great privilege to join the Equipment Finance team at CIT, which is respected as a leader in the equipment finance industry and has an excellent reputation as a financial partner in the vendor community. I look forward to applying my experiences in senior equipment finance roles to my position at CIT.”
Jones earned a B.S. in Accounting and Finance from Widener University. He also served as a Platoon Leader and an Army Ranger and was deployed several times to Central America.
Michael Jones – Biography
Mr. Jones was previously Senior Vice President and Managing Director of Vendor Equipment Finance at EverBank Commercial Finance, with P&L responsibility for the division, which consisted of four discrete business verticals. He successfully transformed the organization’s go-to-market strategy and increased pre-tax income.
Prior to that role, he served within EverBank Equipment Finance as Chief Originations Officer for a variety of industry verticals.
Before joining EverBank, Jones served as Executive Director of the Office Products Group at U.S. Bank Equipment Finance.
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About CIT Equipment Finance
CIT Equipment Finance is a leader in developing business solutions for small businesses and middle market companies for the acquisition of equipment, software and value-added services. It creates tailored equipment financing and leasing programs to help increase sales for manufacturers, distributors and product resellers. cit.com/equipment-finance
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