CIT, a division of First Citizens Bank, named Kevin Ronan, senior vice president and managing director, as the group head of its Capital Equipment Finance business.

CIT’s Capital Equipment Finance business is a leading nationwide provider of leasing and financing products to middle market and large-cap commercial clients and draws upon decades of experience since CIT’s founding in 1908.

Ronan will oversee the company’s Capital Equipment Finance business and directly lead an 11-person originations team responsible for delivering a wide range of lease and debt financing options, coupled with terms tailored to meet the needs of commercial clients.

Previously, Ronan served as national sales director for Capital Equipment Finance’s direct and indirect sales channels. He is based in New York and will report to Philip Robbins, executive vice president at CIT.

“Kevin’s extensive experience and knowledge in managing capital equipment finance sales and consistent ability to deliver for our clients positions him very well in this role,” Robbins said.

“With over a decade at CIT and 30-plus years in equipment finance, Kevin is well-respected, and he’s proven to be a valuable, inclusive and client-focused business leader who has successfully delivered strong client outcomes within the  Capital Equipment Finance business,” he added.
 
Prior to joining CIT in 2012, Ronan worked for several financial institutions as a senior-level equipment finance sales executive, including RBS/Citizens Asset Finance, Young America Capital and GE Capital.

For more equipment finance industry news, visit Equipment Finance Advisor.