CIT Names Michael Brosnan to Board of Directors; John Oros Steps Down from the Board
November 14 2016 - 4:30PM
Business Wire
CIT Group Inc. (NYSE: CIT), cit.com, a leading provider of
commercial lending and leasing services, today announced that
Michael Brosnan has been named to its Board of Directors effective
November 10. Additionally, John Oros has stepped down from the
Board due to the demands and requirements of his position with J.C.
Flowers & Co.
“We are pleased to have Michael serve on our Board of
Directors,” said Ellen R. Alemany, Chairwoman and CEO. “He brings
extensive knowledge and more than 30 years of experience in the
financial services industry, serving both in the private sector and
in supervisory roles of midsize and large national banks while with
the Office of the Comptroller of the Currency. Michael’s experience
will be a valued addition to our Board as we continue to execute
our strategic priorities.”
“I also want to thank John for his contributions and the
valuable shareholder perspective he brought to our Board over the
last six months,” added Alemany.
About Michael Brosnan
Brosnan is the former Examiner-in-Charge for Midsize Bank
Supervision in the Office of the Comptroller of the Currency (OCC).
Prior to this role, Brosnan served as Senior Deputy Comptroller for
Large Bank Supervision. In addition, he served as a member of the
OCC’s Executive Committee and the Committee on Bank Supervision. He
assumed these duties in December 2010. Previously, Brosnan served
as Deputy Comptroller for Large Banks, where he was responsible for
line supervision of a portfolio of large banks, ensuring that
risk-based strategies and staffing were effectively aligned and
executed.
Brosnan rejoined the OCC in 2008 from Bank of America, where he
served as the Enterprise Operational Risk Executive. He also served
as the Risk Manager for the Global Technology and Operations, Chief
Administrative Office, and Supplier Risk Management organizations
of the bank. Brosnan previously served as Compliance Executive for
Bank of America Card Services, and he oversaw the Operational Risk
Management Division of MBNA America. Before joining MBNA (which
subsequently was acquired by Bank of America) in 2004, Brosnan
spent 21 years with the OCC, most recently as Examiner-in-Charge
for Bank of America. In 2003, he was named Senior National Bank
Examiner, the highest honor and designation available to bank
examiners.
Brosnan earned a BA and an MBA from Lynchburg College in
Virginia. He also earned the Chartered Financial Analyst
designation.
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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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