CIT Appoints Denise M. Menelly Executive Vice President and Head of Technology and Operations
May 03 2016 - 8:30AM
Business Wire
Banking Industry Executive to Lead
Technology Transformation
CIT Group Inc. (NYSE:CIT), cit.com, a leading provider of
commercial lending and leasing services, today announced the
appointment of Denise M. Menelly (54) as Executive Vice President
and Head of Technology and Operations, effective June 29. Raymond
Matsumoto, Executive Vice President and Chief Administrative
Officer, will serve as the Head of Technology and Operations in the
interim. Menelly will serve on the company’s Executive Management
Committee and report directly to Chief Executive Officer Ellen
Alemany.
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Denise M. Menelly, Executive Vice
President and Head of Technology and Operations. (Photo: Business
Wire)
“The appointment of Denise is another great step forward for CIT
as she will lead our efforts to drive efficiencies in technology,
operations and other corporate functions and determine key areas
for innovation as we continue to make progress creating a leading
national middle market bank,” said Alemany. “She will play an
integral role as we continue to advance on our commitment to grow
our core businesses and reduce our operating expenses. The addition
of Denise to our team further strengthens our Executive Management
Committee and our organization.”
Menelly said, “I’m thrilled to bring more than 30 years of
experience in banking and financial services to CIT. As the company
focuses on its strategic plan, CIT is facing some amazing
opportunities. I’m excited to be a part of their team.”
Denise M. Menelly – Biography
Denise M. Menelly is joining CIT Group as Executive Vice
President and Head of Technology and Operations. Previously,
Menelly spent six years with Bank of America Merrill Lynch, most
recently as Head of Enterprise Shared Services. In this role she
managed and transformed functions shared by the bank’s corporate,
commercial and consumer business lines. She joined Bank of America
in 2010 as the Chief Operating Officer for Corporate Banking and
then became the Global Head of Commercial and Corporate Bank
Operations, managing functions in more than 28 countries. Menelly
implemented positive change in each role through digitization,
process simplification, performance improvement, risk reduction,
business alignment and talent management.
Prior to joining Bank of America, Menelly served as the Head of
Operations for RBS Citizens and Vice Chairman of Citizens Bank. In
these roles her responsibilities included the U.S.-based banking
operations for Consumer Banking, Commercial Banking and Global
Transaction Services.
Previously, Menelly spent 12 years at Citigroup from 1996 to
2008, implementing technology and process changes while increasing
her responsibilities in various Operations and Technology roles.
These included: Global Head of Securities & Fund Services (SFS)
Operations and Client Delivery, Head of Operations for the
Commercial Business Group, Head of CitiCapital Operations, Head of
Global Transaction Services Client Delivery and Head of Domestic
Cash Management Operations.
She began her career with Bankers Trust Company in 1983 and
spent the next 13 years managing various operations and technology
functions. When she left in 1996, she was the Director of
Operations and the Head of Global Treasury and Trade
Operations.
Menelly has been a champion for women in business and has played
leadership roles in organizations and programs designed to help
women succeed. She is currently an Executive Board member of the
National Center for Women in Information Technology (NCWIT) and for
the past four years she has served as the Executive Sponsor for
NCWIT’s “Awards for Aspirations” – a national award for high school
girls studying computer science. She has also served on the
organizing committee for the Technical Executive Forum, sponsored
by the Anita Borg Institute (ABI), which brings together top
technical executives to work on its mission of increasing the
representation of women in technology. Menelly has also served as a
Global Ambassador in partnership with the nonprofit Vital Voices,
providing mentorship to women leaders in developing countries. She
earned a BS in Economics from Manhattan College.
EDITOR’S NOTE:
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About CIT
Founded in 1908, CIT (NYSE:CIT) is a financial holding company
with more than $65 billion in assets. Its principal bank
subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has
more than $30 billion of deposits and more than $40 billion of
assets. It provides financing, leasing and advisory services
principally to middle-market companies across a wide variety of
industries primarily in North America, and equipment financing
and leasing solutions to the transportation sector. It also offers
products and services to consumers through its Internet bank
franchise and a network of retail branches in Southern California,
operating as OneWest Bank, a division of CIT Bank, N.A. cit.com
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CIT MEDIA RELATIONS:Matt KleinVice President, Media
Relations(973) 597-2020Matt.Klein@cit.comorCIT INVESTOR
RELATIONS:Barbara CallahanSenior Vice President(973)
740-5058Barbara.Callahan@cit.com
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