CIT Group Inc. announced James J. Gifas has joined the company, effective today, as the head of Treasury Services and will serve on CIT's Executive Management Committee. In this role, he will manage the treasury and cash management product portfolio across the commercial and consumer businesses.

"As CIT unlocks its full potential, we want to do the same for our clients. Delivering a more integrated set of banking solutions that drive value to our clients' business is a top priority for us. Jim is a proven leader in this area, and we are pleased to welcome him to our team," said CIT Bank, N.A. President and Head of Commercial Banking Robert Rubino. 

With nearly 30 years of banking experience, Gifas joins CIT from M&T Bank Corp. where he was the Senior Vice President of Merchant Service & Commercial Card Services. Prior to that, he was the head of the Financial Institution Revenue Share Alliance Partnerships at First Data Corp. and the Senior Vice President and head of Treasury Management, Product, Strategy and Innovation at Capital One Financial Corp. Gifas spent six years at RBS Citizens Bank and at different points led their Treasury Solutions and Global Transaction Services Solutions divisions. He began his career at Citibank where he had several positions in the treasury and cash management areas. 

CIT's Treasury Services business offers cash management, collections, disbursements and treasury management solutions for business clients.