CIT, a division of First Citizens Bank, has added seasoned real estate pro Ted Dalton as a Managing Director in its Real Estate Finance group. Dalton is based in New York and will operate as a senior relationship manager driving new business development offering construction, bridge and permanent loan solutions. Dalton reports to Chris Niederpruem, Managing Director and Group Head for Real Estate Finance.

Dalton is moving over from People’s United Bank, which recently completed its merger with M&T Bank. Dalton was a Senior Vice President/Senior Relationship Manager at People’s United with responsibility for originating and growing key client relationships throughout the NY market since 2016. Previously, Dalton had worked in similar roles at BNY Mellon, Anglo Irish Bank and Scotiabank.

CIT's Real Estate Finance business originates and underwrites senior secured real estate transactions. With deep market expertise, underwriting experience and industry relationships, the group provides financing for single properties, property portfolios and loan portfolios.