CIT expands aerospace finance initiative

CIT Group Inc. (NYSE: CIT) has announced the expansion of its commercial aircraft lending business, the company said.

The new Aviation Lending team will be led by Jennifer Villa Tennity who rejoins CIT as president of the business, providing aircraft-backed loans to the commercial aviation industry. Villa Tennity will report to CIT´s president of Commercial Finance, Jim Hudak who assumed the aerospace lending vertical with the sale of the commercial air operating lease business.

Villa Tennity is also joined by Ryan Jasinski as director of originations and Matthew Hughey as vice president, both former CIT colleagues who specialize in aviation lending.

The new aviation team complements CIT´s Aerospace, Defense and Government Services team, led by John Heskin, managing director, which is a provider of asset-backed revolving and term loans, acquisition financing and tailored capital market structures to the sector.

Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than USD 50 billion in assets as of June 30, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than USD 30 billion of deposits and more than USD 40 billion of assets.