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Cit Group stories:
Merrill’s former CEO will head CIT Group
Feb 9th, 2010 - Boston
new york - john thain is getting a second chance.
cit group inc., a lender trying to regain its stature after nearly collapsing during the financial crisis, has hired the former merrill lynch & co. ceo as its chairman and chief executive.
thainFormer Merrill Lynch boss appointed CIT chief
Feb 8th, 2010 - BBC NEWS
mr thain said cit was well positioned despite recent troubles
the former chief executive of merrill lynch, john thain, has been appointed as the new boss of us lender cit group, which recently emerged from bankruptcy.
cit will pay mr thain $6mCIT Group names Thain as CEO
Feb 8th, 2010 - bizjournals
the board at cit group inc. has elected former merrill lynch & co. chief executive john thain as chairman and ceo, effective immediately. thain, 54, succeeds interim ceo peter tobin. thain ceded his role as ceo of merrill lynch after charlotte-based
CIT sets John Thain's salary at $6 million per year
Feb 8th, 2010 - Reuters
(reuters) - cit group inc (cit.n) said its new chief executive john thain will get an annual salary of $6 million, mostly in restricted stock.
the former merrill lynch chief will get $500,000 in cash, $2.5 million of restricted cit stockCIT names ex-Merrill CEO Thain as chairman, CEO
Feb 7th, 2010 - Houston Chronicle
new york - former merrill lynch ceo john thain, who brokered the investment bank's controversial sale to bank of america, is taking over as chairman and ceo of cit group as the commercial lender continues to restructure its business following
Cit Group videos from YouTube:
3:27John Thain Named CEO of CIT
fbns Liz macdonald on John Thains appointment as CEO of CIT Group.
3:56Levitt Says CIT Made `Good Call' Naming John Thain CEO: Video
Feb. 8 (Bloomberg) -- Former US Securities and Exchange Commission Chairman Arthur Levitt talks with Bloomberg's Jon Erlichman about CIT Group Inc.'s decision to name former Merrill Lynch & Co. chief John Thain as its new chairman and chief executive officer ...
1:32CIT Group Files for Chapter 11 Protection
The Chapter 11 bankruptcy filing for CIT Group was not unexpected. The lender to thousands of small and mid-sized businesses has been struggling for months to avoid collapse. (Nov. 2)
Cit Group from WikiPedia:
CIT Group, Inc. is a large American commercial and consumer finance company, founded in 1908. The company filed for Chapter 11 bankruptcy in 2009. The company is included in the Fortune 500 and is a leading participant in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending. The company does business with more than 80% of the Fortune 1000, and lends to a million small and medium businesses. It was a part of the S&P 500 Index, was replaced by Red Hat at the close of trading July 24, 2009.
The company has its headquarters in New York City, and employs more than 7,300 people in locations throughout North America, Europe, Latin America, and Asia Pacific. The company's name is an abbreviation of an early corporate name, Commercial Investment Trust.
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