CIT Names Business Development Officer in Capital Equipment Finance for the West Region

Rhea-AI Summary

CIT, part of First Citizens Bank, has appointed Eric Smith as a business development officer for the West region in its Capital Equipment Finance business. Based in Greater Seattle, Smith will focus on fostering client relationships in states including California, Oregon, and Washington. With over 25 years in financial sales, his experience includes roles at Wells Fargo and GE Capital. CIT is recognized for its excellence in equipment financing, offering tailored loans and leases to middle-market and large-cap businesses.

Positive

• Appointment of Eric Smith as a business development officer enhances team capabilities.
• Smith has over 25 years of relevant experience, suggesting strong potential for success.
• CIT's reputation for excellence in capital equipment financing may strengthen market position.

Negative

• None.

NEW YORK, April 14, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Capital Equipment Finance business has named Eric Smith as a business development officer serving the West region.

Smith, who is based in Greater Seattle, will be responsible for developing, maintaining, and expanding client and prospect relationships within the region, which includes California, Oregon, Washington, Alaska and Hawaii.

"CIT has long maintained a reputation for excellence in capital equipment financing," said Kevin Ronan, senior vice president overseeing business development for both the direct and indirect sales channels in Capital Equipment Finance. "I'm confident Eric will help us expand on that legacy by supporting our clients and their continued growth in this important industry sector."

Smith is a financial sales professional with over 25 years of experience developing equipment-based financial solutions across a wide range of industries. Prior to joining CIT, Smith spent five years in equipment finance at Wells Fargo and 15 years before that at GE Capital. He is a graduate of the University of Oregon with a degree in business and finance.

Capital Equipment Finance, part of CIT's Commercial Finance business, is a leading provider of equipment financing solutions to middle market and large-cap businesses. The unit specializes in providing equipment loans and leases with flexible terms and rates tailored to the equipment needs and credit strength of the borrower.

About CIT

CIT is a division of First Citizens Bank, the largest family-controlled bank in the United States, continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. Parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $100 billion in assets. The company's commercial banking segment brings a wide array of best-in-class lending, leasing and banking services to middle-market companies and small businesses from coast to coast. First Citizens also operates a nationwide direct bank and a network of more than 600 branches in 22 states, many in high-growth markets. Industry specialists bring a depth of expertise that helps businesses and individuals meet their specific goals at every stage of their financial journey. Discover more at cit.com/firstcitizens.

MEDIA RELATIONS:
John M. Moran
212-461-5507
John.Moran2@firstcitizens.com

 

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SOURCE CIT, a division of First Citizens Bank

FAQ

What is the recent appointment at CIT related to FCNCA?

CIT has appointed Eric Smith as a business development officer for the West region.

Which regions will Eric Smith serve as a business development officer?

Eric Smith will serve the West region, including California, Oregon, Washington, Alaska, and Hawaii.

What experience does Eric Smith have in finance?

Eric Smith has over 25 years of experience, having worked at Wells Fargo and GE Capital.

What services does CIT's Capital Equipment Finance provide?

CIT's Capital Equipment Finance offers equipment loans and leases tailored to the needs of middle-market and large-cap businesses.

What company is CIT a division of?

CIT is a division of First Citizens Bank, which is the largest family-controlled bank in the U.S.