CIT Group is expanding its investment management and advisory capabilities to offer an increased range of products to more customers.
CIT Asset Management, the company’s registered investment advisor arm, will offer expanded cashflow-based loans to borrowers.
Jeff Kilrea (pictured), managing director and group head for CIT's sponsor finance business, said: “This new funding mechanism leverages CIT's noted expertise in loan origination, underwriting, capital markets, treasury management and portfolio management. We are able to offer our clients more cashflow lending options with attractive terms.”
CIT Asset Management is part of the company's commercial finance division.
The company's commercial banking segment includes commercial financing, real estate financing, equipment financing, factoring and railcar financing.
CIT Group is a financial holding company with approximately $50 billion in assets and operates a principal bank subsidiary, CIT Bank.
