CIT, a division of First Citizens Bank, has hired Geoffrey Samuels as a business development officer in its Asset-Based Lending business.

Samuels will be based in Charleston, South Carolina, with a focus on asset-based lending business development across the Southeast region. He will be responsible for producing new business leads, strengthening client relationships and delivering unique financial solutions through a wide range of bank products and services.

“Geoff has solid experience in the asset-based lending space, and we’re pleased to welcome him to the team where we know he will be successful in fostering new business relationships and providing exceptional service to our existing clients,” said Chris Esposito, managing director and group head for CIT’s Asset-Based Lending business.

Samuels is a financial sales professional with over 10 years of experience in developing creative asset-based lending solutions across a wide range of industries. Prior to joining CIT, Samuels spent several years in business development roles with various non-bank lenders.

CIT's Asset-Based Lending business meets clients' working capital needs by offering innovative structures that reduce funding costs and lower operational risks while improving earnings by leveraging accounts receivable, inventory or fixed assets as collateral.