CIT Group Inc. (NYSE:CIT) announced the appointment of Louis Barone as Managing Director, Northeast Regional Sales Manager of CIT Commercial Services, a leading provider of factoring services in the United States. He will report directly to Marc Heller, Executive Vice President, Northeast Regional Manager and International Manager of CIT Commercial Services.

“Lou’s strong sales skills, credit expertise, deal structuring ability and demonstrated leadership capabilities will add great value to our organization,” said Jon Lucas, President, CIT Commercial Services. “He will build upon his deep industry experience and CIT’s standing as a leading provider of factoring solutions to spearhead our efforts to grow new factoring and lending business in the northeastern United States.”

Barone has many years of experience working to meet the financial needs of the consumer products sector. He joins CIT from Israel Discount Bank (IDB), where he was Senior Vice President, Head of IDB Factors since 2010. Prior to joining IDB, Barone held various management positions at several financial institutions, including GMAC Commercial Finance and HSBC Business Credit. He also previously served as Vice President, Business Development at CIT.