CIT Group Inc. announced that it has named Joerg Obermueller as the managing director of the Supply Chain Finance business within the company’s Commercial Services division.

In his new role, Obermueller will be responsible for assembling a team, building new client relationships, developing strategies to address new target markets and ensuring outstanding customer service and satisfaction.

“We are pleased to welcome Joerg, an experienced supply chain finance executive, to CIT as we continue to build our capabilities to support customers and pursue new growth opportunities,” said Marc Heller, president of Commercial Services, part of CIT’s Business Capital division.

Obermueller joins CIT from Deutsche Bank AG New York, where he had been head of supply chain finance sales North America. Earlier in his career, he also worked in supply chain finance and factoring at Postbank, later acquired by Deutsche Bank.