Bloomberg, and other news media, are reporting that John Thain, a former chief executive officer of Merrill Lynch and more recently CEO of CIT Group Inc., is expected to join Deutsche Bank AG’s supervisory board in May, citing sources with knowledge...
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April 02, 2018, 07:25 AM
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CIT Group announced several changes to its Board of Directors designed to include additional industry expertise and shareholder representation:
Ellen R. Alemany has been appointed Chairwoman effective after John A. Thain’s retirement as Chairman...
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February 22, 2016, 07:15 AM
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CIT Group reported net income of $144 million for the fourth quarter of 2015, compared to net income of $251 million for the year-ago quarter. Income from continuing operations for the fourth quarter was $151 million compared to $252 million in the...
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February 02, 2016, 07:24 AM
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CIT Group reported net income of $693 million for the quarter ended September 30, 2015, compared to net income of $515 million for the year-ago quarter. Income from continuing operations was $697 million compared to $515 million in the year-ago...
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November 03, 2015, 07:14 AM
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The Board of Directors of CIT Group Inc. (NYSE:CIT), announced that Chief Executive Officer John A. Thain will retire effective March 31, 2016, and will continue to serve as Chairman of the Board of Directors, and that CIT Board Member Ellen R....
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October 22, 2015, 07:15 AM
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CIT Group announced a series of strategic initiatives that are designed to advance the Company’s transition to a U.S. Commercial Bank. The Company announced that it would explore strategic alternatives for its $10 billion Commercial Air business, and...
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October 22, 2015, 07:10 AM
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CIT Group announced that it has completed its previously announced acquisition of IMB Holdco LLC, the parent company of OneWest Bank N.A. (OneWest Bank) for approximately $3.4 billion in cash and stock. The transaction, first announced on July 22...
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August 04, 2015, 07:05 AM
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CIT Group reported net income of $115 million for the quarter ended June 30, 2015, compared to net income of $247 million for the second quarter of 2014. Net income for the six month period ended June 30, 2015 was $219 million compared to $364...
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July 28, 2015, 07:17 AM
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CIT Group reported net income of $104 million for the quarter ended March 31, 2015, compared to net income of $117 million for the first quarter of 2014. First quarter results were impacted by a higher tax provision resulting from the recognition of...
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April 28, 2015, 07:01 AM
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CIT Group reported net income of $515 million for the third quarter of 2014, compared to net income of $200 million for the year-ago quarter. Income from continuing operations for the third quarter was $515 million compared to $193 million in the...
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October 28, 2014, 07:00 AM
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CIT Group today announced that it has entered into a definitive agreement and plan of merger with IMB Holdco LLC, the parent company of OneWest Bank N.A. (“OneWest Bank”), for $3.4 billion in cash and stock. OneWest Bank is a privately owned regional...
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July 22, 2014, 07:15 AM
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CIT Group Inc. reported net income of $247 million for the second quarter of 2014, compared to net income of $184 million for the year-ago quarter. During the quarter, the company completed the sale of the $3.3 billion Student Loan portfolio along...
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July 22, 2014, 07:00 AM
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CIT Group today reported net income of $109 million for the quarter ended March 31, 2014, compared to net income of $163 million for the first quarter of 2013. First quarter results were primarily impacted by lower levels of interest income, higher...
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April 29, 2014, 06:58 AM
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CIT Group today reported net income of $130 million for the fourth quarter of 2013, compared to net income of $207 million for the fourth quarter of 2012. Net income for the year ended December 31, 2013 was $676 million compared to a net loss of $592...
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January 28, 2014, 07:05 AM
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CIT Group Inc. announced the company’s success in collecting more than 30 tons of food for the Interfaith Food Pantry, a Morris Plains, NJ-based organization that helps feed local families. The Livingston-based employee food drive is part of CIT’s...
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June 14, 2013, 06:56 AM
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Bloomberg reported that John Thain, chief executive officer of CIT Group, discussed the outlook for the company and the U.S. financial industry while speaking on Bloomberg Television's "Market Makers".According to the Bloomberg report, Thain declined...
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June 13, 2013, 07:06 AM
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CIT Group announced that it received notice from the Federal Reserve Bank of New York (the FRBNY) that the Written Agreement, dated August 12, 2009, between CIT and the FRBNY has been terminated. To view the entire Written Agreement between CIT and...
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May 31, 2013, 07:05 AM
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CIT Group reported net income of $163 million, $0.81 per diluted share, for the first quarter of 2013, compared to a net loss of $427 million, ($2.13) per diluted share, for the first quarter of 2012. The loss in the year-ago quarter was primarily...
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April 23, 2013, 07:17 AM
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CIT Group announced that its Livingston-based employees have donated more than 30 tons (60,000 pounds) of food as part of its inaugural company-wide global initiative to fight hunger. The food will be donated to Morris Plains, NJ-based Interfaith...
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March 21, 2013, 07:00 AM
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CIT Group today reported net income of $207 million for the fourth quarter of 2012, improved from $36 million for the year-ago quarter. The current period includes net charges of $83 million related to the redemption of student loan asset-backed...
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January 29, 2013, 07:25 AM
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CIT Group reported a net loss for the quarter ended September 30, 2012 of $305 million compared to a net loss of $32.8 million for the third quarter of 2011. The current period includes charges of $471 million related to the redemption of $4.6...
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October 23, 2012, 06:44 AM
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While economic uncertainty at the national level is a top concern among middle market executives, many still believe that their companies are on solid ground. More than half (53%) say that their companies are stronger today than before the Great...
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September 27, 2012, 08:31 AM
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CIT Group announced that it has closed a new approximately $345 million (RMB2.2 billion) committed facility that will allow CIT Global Vendor Finance to fund new originations in China. The committed availability period expires in September 2014 with...
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September 11, 2012, 06:00 AM
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A Bloomberg article reports that less than three years after CIT emerged from bankruptcy, its CEO John Thain is persuading investors that its debt is as creditworthy as an investment-grade firm. The company has reduced its long-term debt by $10.5...
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August 20, 2012, 07:44 AM
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CIT Group Inc. reported a net loss for the quarter ended June 30, 2012 of $71 million. This net loss compares to a net loss of $50 million for the second quarter of 2011 and includes debt refinancing charges of $286 million related to the prepayment...
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July 30, 2012, 07:12 AM
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CIT Group Inc. reported a net loss for the quarter ended March 31, 2012 of $447 million. This net loss compares to net income of $66 million for the first quarter of 2011 and includes debt refinancing charges of $620 million related to the prepayment...
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April 24, 2012, 08:15 AM
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CIT Group announced the appointment of Andrew T. Brandman as Executive Vice President and Chief Administrative Officer effective Monday, April 9. He will report directly to Chairman and Chief Executive Officer John A. Thain. “Andrew’s extensive...
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April 09, 2012, 07:45 AM
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CIT Group Inc. announced that it will redeem all of its nearly $4 billion of remaining 7% Series A Second-Priority Secured Notes including approximately $1 billion principal amount of the Notes maturing in 2016 and approximately $2.9 billion...
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February 08, 2012, 07:00 AM
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