16/04/2012 14:36:00

CIT Names Former Bank of America Executive To CIO Role

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By Andrew R. Johnson

Of DOW JONES NEWSWIRES

NEW YORK -(Dow Jones)- CIT Group Inc. (CIT) continues to round out its management with the appointment of former Bank of America Corp. (BAC) executive Stacey Goodman to the roles of chief information officer and executive vice president.

Business lender CIT, led by former Merrill Lynch Chief Executive John Thain, said Monday that Goodman will report to President Nelson Chai. Her appointment is effective April 30.

Goodman previously was managing director of global technology and operations at Bank of America and held a similar role prior to that at UBS AG (UBS, UBSN.VX).

Goodman's "global IT experience will be integral as a best-in-class technology platform will assist us in creating tailored financing solutions for our small business and middle market clients," Chai said in a statement.

At CIT, Goodman will oversee about 700 IT employees worldwide and will be responsible for maintaining the company's technology systems and pinpointing areas for consolidation and cost reduction, the company said.

Goodman, 49, is the latest executive appointment for CIT. Last week the company named former NYSE Euronext (NYX) executive Andrew Brandman to the roles of chief administrative officer and executive vice president.

Thain, the former CEO of NYSE Euronext, has been bulking up CIT's management team since taking the helm of the company in February 2010, shortly after the business lender emerged from bankruptcy proceedings. Hires have included former colleagues Chai and communications and government relations head Margaret Tutwiler, both former NYSE and Merrill Lynch executives.

CIT's shares recently were inactive premarket Monday.

-By Andrew R. Johnson, Dow Jones Newswires; 212-416-3214; andrew.r.johnson@dowjones.com

(END) Dow Jones Newswires

April 16, 2012 09:36 ET (13:36 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

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