CIT, a division of First Citizens Bank, announced that its Commercial Services business is promoting and hiring new business development leaders to support clients and drive growth in factoring finance in the Northeast and West.
In the Northeast, Howard Moore and Paul Pagano are joining CIT's Commercial Services group as business development directors. Both are based in New York and hold responsibility for developing, maintaining and expanding client and prospect relationships across a wide range of business verticals.
"Howard and Paul are experienced financial professionals with the expertise and skill sets needed to help grow our business," said Tom Fingleton, managing director and northeast regional manager for CIT Commercial Services. "The addition of these leaders demonstrates CIT's commitment to supporting our clients and continuing to drive growth in this sector."
Moore joins CIT after most recently serving as vice president at Revolution Capital. Having specialized in multiple different industry segments, he brings 15 years of experience in factoring, asset-based lending and specialty lending, having earlier worked in development positions at various financial institutions, including Rosenthal & Rosenthal and Gerber Finance.
Pagano comes to CIT from Milberg Factors, where he served as vice president. He has 25 years of financing experience in a range of industries, including factoring and commercial finance, apparel and design. Pagano earlier served in leadership positions at Global Design Concepts, Ike Behar Apparel and Design, Le Tigre and Christian Dior Couture.
In the West, Michael Rayner has been promoted to director and team leader. Based in Los Angeles, he helps cover the western region with responsibility for leading a team of account executives in overseeing and growing their respective portfolios while also effectively managing risk and driving growth.
"Michael's tenure with CIT and his deep experience in supporting clients make him the perfect choice to lead this team of bankers in providing factoring and other financial services throughout the region," said Darrin Beer, managing director and western regional manager for CIT Commercial Services.
Rayner has been with CIT for over 20 years, most recently serving as a vice president, account executive in Commercial Services. He previously served as a senior underwriter at CIT and held various positions at Heller Financial including underwriter, unit manager and credit analyst. Rayner has extensive experience in portfolio management, client relations and new business generation.
Commercial Services, part of CIT's Commercial Finance division, is one of the nation's leading providers of working capital solutions, factoring, credit protection, accounts receivable management and lending services to consumer product companies, manufacturers, dealers, importers and resellers.