NEW YORK, Jan. 17, 2017 /PRNewswire/ -- CIT Group
Inc. (NYSE: CIT), a leading provider of commercial lending and
leasing services, today announced the appointment of Paul Tufaro as Executive Vice President, Chief
Compliance Officer, effective immediately. Tufaro will report to
Executive Vice President and Chief Risk Officer Robert
Rowe.
"Paul's vast experience leading enterprise compliance risk
management practices in the banking sector makes him a valued
addition to CIT and our senior management team," said Rowe. "He
brings to our organization two decades of experience in compliance
and legal roles in prominent financial institutions and private
legal practice, which will be critical as CIT continues to execute
on our strategic initiatives."
In addition to managing CIT's Compliance department, Tufaro's
primary responsibilities will include executing on enterprise-wide
compliance programs focused on consumer protection, fair lending
and anti-financial crimes. Tufaro will also work to ensure CIT
fosters a culture of compliance and responsible finance across the
organization.
"The business opportunities for the organization are
significant, and CIT recognizes the importance of putting customers
first and operating in a manner consistent with applicable laws,
regulations, and ethical standards," said Tufaro. "I'm excited to
be a part of the organization."
Tufaro joins CIT after six years at Citigroup Inc., where he
most recently served as the global head of the corporate compliance
group within the compliance department. In that role, he led a
large team in executing the enterprise-wide prudential bank
regulatory and privacy compliance programs, as well as core
compliance processes, including those related to risk assessments,
metrics and analytics, and corporate policy. Prior to Citigroup, he
served in various roles in both legal and compliance at Bank of
America Merrill Lynch, the Royal Bank of Scotland, and Evercore Partners. Earlier in
his career, Tufaro worked as an attorney in the bank regulatory
practices of the international law firms Mayer Brown and
Sidley Austin.
Tufaro earned his Juris Doctor degree from American University and his bachelor's degree from
Tufts University.
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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 INVESTOR
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Matt Klein
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Barbara
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Director
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Senior Vice
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(973)
597-2020
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(973)
740-5058
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Matt.Klein@cit.com
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Barbara.Callahan@cit.com
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SOURCE CIT Group Inc.