CIT Group Inc. announced the appointment of Denise M. Menelly as Executive Vice President and Head of Technology and Operations, effective June 29. Raymond Matsumoto, Executive Vice President and Chief Administrative Officer, will serve as the Head of Technology and Operations in the interim. Menelly will serve on the company’s Executive Management Committee and report directly to Chief Executive Officer Ellen Alemany.
“The appointment of Denise is another great step forward for CIT as she will lead our efforts to drive efficiencies in technology, operations and other corporate functions and determine key areas for innovation as we continue to make progress creating a leading national middle market bank,” said Alemany. “She will play an integral role as we continue to advance on our commitment to grow our core businesses and reduce our operating expenses. The addition of Denise to our team further strengthens our Executive Management Committee and our organization.”
Menelly said, “I’m thrilled to bring more than 30 years of experience in banking and financial services to CIT. As the company focuses on its strategic plan, CIT is facing some amazing opportunities. I’m excited to be a part of their team.”
Denise M. Menelly is joining CIT Group as Executive Vice President and Head of Technology and Operations. Previously, Menelly spent six years with Bank of America Merrill Lynch, most recently as Head of Enterprise Shared Services. In this role she managed and transformed functions shared by the bank’s corporate, commercial and consumer business lines. She joined Bank of America in 2010 as the Chief Operating Officer for Corporate Banking and then became the Global Head of Commercial and Corporate Bank Operations, managing functions in more than 28 countries. Menelly implemented positive change in each role through digitization, process simplification, performance improvement, risk reduction, business alignment and talent management.
Prior to joining Bank of America, Menelly served as the Head of Operations for RBS Citizens and Vice Chairman of Citizens Bank. In these roles her responsibilities included the U.S.-based banking operations for Consumer Banking, Commercial Banking and Global Transaction Services.
Previously, Menelly spent 12 years at Citigroup from 1996 to 2008, implementing technology and process changes while increasing her responsibilities in various Operations and Technology roles. These included: Global Head of Securities & Fund Services (SFS) Operations and Client Delivery, Head of Operations for the Commercial Business Group, Head of CitiCapital Operations, Head of Global Transaction Services Client Delivery and Head of Domestic Cash Management Operations.
Menelly has been a champion for women in business and has played leadership roles in organizations and programs designed to help women succeed. She is currently an Executive Board member of the National Center for Women in Information Technology (NCWIT) and for the past four years she has served as the Executive Sponsor for NCWIT’s “Awards for Aspirations” – a national award for high school girls studying computer science. She has also served on the organizing committee for the Technical Executive Forum, sponsored by the Anita Borg Institute (ABI), which brings together top technical executives to work on its mission of increasing the representation of women in technology. Menelly has also served as a Global Ambassador in partnership with the nonprofit Vital Voices, providing mentorship to women leaders in developing countries. She earned a BS in Economics from Manhattan College.
Founded in 1908, CIT is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle-market companies across a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A.