JOHN THAIN, Chairman & CEO of CIT Group Inc., purchased 40,000 shares of CIT Group Inc. (Stock Symbol: CIT) at $41.54 per share for a total amount of $1.66 million on May, 15th 2014.
CIT Group Inc. is located in Livingston, NJ.
On 05/05/2014, CIT Group Inc., a leading provider of financing and advisory services to small businesses and middle market companies, today released “A Greener Shade of Khaki,” (cit.com/truegreen), an exclusive look at how CIT used its deep industry expertise in renewable energy to finance True Green Capital Management’s installation of a 12-megawatt solar energy system at Joint Military Base McGuire-Dix-Lakehurst in Burlington County, New Jersey. This video is the latest installment in the award-winning CIT: Behind the Deal (cit.com/behindthedeal) series of client case study testimonial videos that showcase how the lending, leasing and advisory expertise of CIT has helped its clients achieve success.
On 04/29/2014, CIT Group Inc. announced its latest quarterly results. (CIT Group Inc. (CIT), today reported net income of $109 million, $0.55 per diluted share, for the quarter ended March 31, 2014, compared to net income of $163 million, $0.81 per diluted share, for the first quarter of 2013. First quarter results were primarily impacted by lower levels of interest income, higher maintenance and other operating lease expenses and an increase in the provision for credit losses.
According to Capital IQ, CIT Group Inc. has a market cap of $8.26 billion, an enterprise value of $28.28 billion.
CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing and leasing products; and a suite of savings options in the United States. The company operates in five segments: Corporate Finance, Transportation Finance, Trade Finance, Vendor Finance, and Consumer. The Corporate Finance segment offers lending, leasing, and other financial and advisory services to small and middle-market companies in various industries, such as commercial and industrial, communications, media and entertainment, healthcare, and energy. The Transportation Finance segment provides aircraft and railcar, leasing and financing solutions to operators and suppliers in the aviation and railcar industries. This segment also offers lending and other financial products and services to companies in the transportation sector, such as business aircraft, maritime, and aerospace and defense industries. The Trade Finance segment provides a range of domestic and international customized credit protection, lending, and outsourcing services that include working capital and term loans, factoring, receivables management products, bulk purchases of accounts receivable, import and export financing, and letter of credit programs to retail supply chain companies. The Vendor Finance segment partners with manufacturers, distributors, dealers, and product resellers to deliver financing and leasing solutions to end-user customers for the acquisition of equipment. The Consumer segment offers government-guaranteed student loan portfolios, which are in run-off. The company also provides account receivables collection, acquisition and expansion financing, asset management and servicing, credit protection, financial risk management, import and export financing, insurance, letters of credit, and mergers and acquisition advisory services, as well as debt restructuring, underwriting, and syndication services. CIT Group Inc. was founded in 1908 and is headquartered in Livingston, New Jersey.
John A. Thain’s most recent annual compensation from CIT Group Inc. is a salary of $1,003,850, $1,435,550 in other compensation, and a total compensation of $8,166,900. Mr. Thain is 59 years old.
According to his biography, Mr. John A. Thain is Chairman of the Board, Chief Executive Officer of CIT Group Inc., since February 8, 2010. In January 2009, prior to joining CIT, Mr. Thain was President of Global Banking, Securities and Wealth Management for Bank of America. From December 2007 to January 1, 2009, prior to its merger with Bank of America, Mr. Thain was Chairman and Chief Executive Officer of Merrill Lynch & Co., Inc. From June 2006 to December 2007, Mr. Thain served as Chief Executive Officer and a director of NYSE Euronext, Inc. following the NYSE Group and Euronext N.V. merger. Mr. Thain joined the New York Stock Exchange in January 2004, serving as Chief Executive Officer and a director. From June 2003 through December 2003, Mr. Thain was the President and Chief Operating Officer of The Goldman Sachs Group Inc., and from May 1999 through June 2003 he was President and Co-Chief Operating Officer of The Goldman Sachs Group, L.P. From 1994 to 1999, Mr. Thain served as Chief Financial Officer and Head of Operations, Technology and Finance, and from 1995 to 1997 he was also Co-Chief Executive Officer for European operations for The Goldman Sachs Group, L.P. Mr. Thain currently serves as a member of the MIT Corporation Board, the Dean’s Advisory Council of MIT/Sloan School of Management, the U.S. National Advisory Board of INSEAD, the Board of Managers of the New York Botanical Garden and the Board of Directors of the French-American Foundation. Mr. Thain is a trustee of New York-Presbyterian Hospital, a General Trustee of Howard University, and a Trustee and Corporate Officer of The Antz Foundation, a private foundation.
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