CIT Group was founded in 1908 by Henry Ittleson as Commercial Credit and Investment Trust. Originally, the company provided financing for wholesale suppliers and producers of consumer goods.
In 1916 the company added automobile financing to its portfolio through an agreement with Studebaker. CIT expanded to Europe in 1929 but closed its operations in Germany in 1934 due to international tensions before World War II.
Today CIT Group is a commercial bank holding company that offers lending, leasing, equipment financing, debt restructuring, and advisory services to businesses in the communications, energy, healthcare, IT, manufacturing, and retail industries.
CIT Group is publicly traded on the New York Stock Exchange under the ticker symbol CIT, is #654 in the Fortune 1000, has 3,330 employees, and had $2.41 billion in revenue in 2013.
CIT GroupCIT Group was founded in 1908 by Henry Ittleson as Commercial Credit and Investment Trust. Originally, the company provided financing for wholesale suppliers and producers of consumer goods.
In 1916 the company added automobile financing to its portfolio through an agreement with Studebaker. CIT expanded to Europe in 1929 but closed its operations in Germany in 1934 due to international tensions before World War II.
Today CIT Group is a commercial bank holding company that offers lending, leasing, equipment financing, debt restructuring, and advisory services to businesses in the communications, energy, healthcare, IT, manufacturing, and retail industries.
History
CIT Group is publicly traded on the New York Stock Exchange under the ticker symbol CIT, is #654 in the Fortune 1000, has 3,330 employees, and had $2.41 billion in revenue in 2013.