CIT Group, a provider of financing to small businesses and middle market companies, has appointed Raymond Quinlan as executive vice president, Banking effective 6 December 2010. He will report to chairman and CEO John Thain.
Prior to CIT, Quinlan spent more than 30 years at Citigroup in various roles of increasing responsibility in business management, finance, credit management and M&A, directing the bank’s business development, strategic planning and operations.
Most recently, he served as chairman and CEO, Retail Distribution North America, which includes all of Citigroup’s bank branches, as well as its online banking, from 2005 to 2007. He was also managing director of M&A Execution for Citigroup from 2002 to 2005 and served as CEO of International Cards Division for Citigroup from 2000 to 2002.
Thain said Ray’s broad banking and financial services experience will play an important role as CIT work with banking regulators to build a leading bank to small businesses and middle market companies.