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21

CIT’s Thain to Step Down as CEO as Lender Seeks Asset Sales

By Tony Seruga

CIT Group Inc. Chief Executive Officer John Thain Interview

John Thain, outgoing CEO of CIT Group.

Photographer: Victor J. Blue/Bloomberg

Successor Ellen Alemany to become one of industry’s top women
Controller Carol Hayles to become finance chief on Nov. 1

John Thain, the Wall Street banker who rebuilt CIT Group Inc. after the financial crisis, is stepping down as chief executive officer and handing the reins to Ellen Alemany to grow the business.

Alemany, a CIT board member and former senior executive at Royal Bank of Scotland Group Plc, will take over at the end of March, becoming one of the most senior women in U.S. finance. Thain plans to stay on as chairman…

CIT’s Thain to Step Down as CEO as Lender Seeks Asset Sales

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