CIT Group Inc. announced it has named Evan Cohen as managing director and group head for its Maritime Finance business.

In his new role, Cohen leads a team of underwriting and business development professionals in building new client relationships and generating and closing loans secured by vessels and other maritime assets.

"We are pleased to welcome Evan, a well-known and experienced maritime finance executive, to CIT as we continue to build our capabilities to support customers and pursue growth opportunities in this important market segment," said Burt Feinberg, managing director and group head of CIT's Commercial & Industrial Finance unit.

"Evan has deep and strong relationships with investors and ship owners as well as a wealth of transaction and management experience," Feinberg added.

Prior to joining CIT, Cohen served as CEO at Amsterdam-based DC Maritime Partners, an international maritime corporate finance and advisory company. Earlier in his career, he spent 14 years at DVB Bank, a specialist in international transportation finance headquartered in Frankfurt, Germany, where he had origination, management and risk responsibilities.

Maritime Finance, part of CIT's Commercial Finance division, offers customized solutions for secured loans to a global client base of vessel owners and operators. Key areas of focus include the tanker, bulker, container and Jones Act shipping sectors.