Hints and tips:
...Across all BlackRock entities, US CITs had more than $1tn in total net assets as of September 30 2023, Morningstar data shows....
...After the deal closed, Otting was named chief executive of the bank, which was renamed OneWest and later sold to CIT....
...former regulator who has taken over as NYCB chief executive, have a history of rebuilding troubled lenders: they bought failed mortgage lender IndyMac from the FDIC in 2008, restructured it and sold it to CIT...
...His real name is Hank Medina, a Miami native who climbed the ranks of banking by moving from CIT to Jefferies. After a brief stint on the buy side, he returned to banking at Deutsche Bank....
...They also worked together at CIT Group, where Mr Thain hired Mr Chai after becoming chief....
...Additionally, CtW cites his leadership roles at problem banks Merrill Lynch and CIT Group....
...In 2010, he again joined Mr Thain at CIT Group, where Mr Chai served as president for more than five years....
...In 2010 they were reunited when Mr Thain hired Mr Chai at CIT Group. Mr Chai stayed for five years....
...There are currently 13 commercial banks in that size bracket, according to Bloomberg data, ranging from CIT Group of Pasadena, California ($51bn) to BB & T of Winston-Salem, North Carolina ($221bn)....
...He will be replaced by Sam Hewson, who joined Cit’s markets graduate programme in 2003, and is currently co-head of western European corporate foreign exchange and has global responsibility for Citi’s risk...
...The dozen banks in the Dow Jones mid-cap US banks index are Signature, Comerica, Citizens, Regions, M&T, Silicon Valley Bank, CIT, Fifth Third, Huntington Bancshares, KeyCorp, First Republic and Zions....
...Several senior bankers have relocated from other regions to London, including Michael Borch, Cit’s global co-head of transportation, who moved from Hong Kong; Wes Walraven, who moved from New York to co-head...
...Mr Thain’s previous positions include leading CIT Group, Merrill Lynch and the New York Stock Exchange....
...CIT shares rallied by 8.6 per cent in after-hours trading....
...Until Cit’s announcement, Bloomberg and FTSE had gone the furthest, with both offering parallel indices that allowed fund managers who track their indices a choice of following benchmarks with onshore China...
...In October its aircraft leasing company Avolon agreed to buy US-based rival CIT Group for $10bn....
...More recently, HNA, through Avolon Holdings, the aircraft leasing company it acquired in July 2015, agreed to pay $10bn for the rival leasing arm of US-based CIT Group....
...In October, Avolon Holdings, an aircraft leasing company controlled by HNA, agreed to pay $10bn for the leasing arm of US-based CIT Group....
...Last autumn, the chief executive CIT Group announced plans to depart — one in a series of strategic changes at the formerly troubled finance firm....
...One counter example is CIT Group, a banking institution that has made so many acquisitions it has crossed the $50bn threshold....
...CIT shares jumped 15 per cent on Thursday because CIT also announced plans to sell its aircraft leasing business....
...His departure as chief executive of CIT means a promotion for Ellen Alemany, a former chief executive of RBS Citizens Financial Group, who joined CIT’s board in January last year....
...It emerged this week that Hudson Executive Capital, a new firm run by two ex-JPMorgan bankers, has taken a stake in CIT Group, the commercial lender and lessor that went bust in 2009 after being starved...
...CIT Group acquired OneWest Bank in 2014 for $3bn, taking the target’s deposit base to lower its funding cost....
...Around that time WebBank boosted its operational capacity by poaching several executives from CIT, which came close to collapse during the financial crisis....
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