Mr DesMarteau joined CIT in 2006 as the chief sales officer of commercial finance. He has served as interim group head since June, 2007. Prior to joining CIT, DesMarteau worked with General Electric for 15 years in a number of increasingly senior roles, most recently leading the consolidation of GE Capital Solutions which incorporated the merging of GE’s $2 billion net income equipment finance, inventory finance and vendor finance business units. Prior to GE, he also led the sales and marketing teams for a $10 billion domestic finance business.
Walter Owens, president of corporate finance at CIT, said: I am pleased to announce Jay’s appointment as President of CIT Equipment Finance. His efforts over the past six months highlight his leadership and management capabilities and will serve CIT well as we continue to grow our middle market equipment finance business. Our deep industry knowledge and financial products expertise allows us to provide a sophisticated solution that adds value to our customers’ businesses.
