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CIT Group (CIT), a subsidiary of First Citizens BancShares, is an American financial services company. It provides financing, including factoring , cash management , treasury management , mortgage loans , Small Business Administration loans, leasing, and advisory services principally to individuals, middle-market companies and small businesses ...
CIT Group, an American banking and financial services company; Compagnia Italiana Turismo, an Italian travel agency; Confederación Interamericana de Trabajadores, an inter-American trade union confederation; Conflict Intelligence Team, open-source independent investigative organisation originating from Russia
Cash-in-transit (CIT) or cash/valuables-in-transit (CVIT) is the physical transfer of banknotes, coins, credit cards and items of value from one location to another. The locations include cash centers and bank branches, ATM points, bureaux de change , large retailers and other premises holding large amounts of cash, such as ticket vending ...
Student Loan Xpress (SLX) is a member company of New York-based CIT Group Inc. SLX became a wholly owned subsidiary of CIT Group, Inc in 2005. They ceased originating loans on April 3, 2008. On May 19, 2008, CIT Group closed the San Diego office of Student Loan Xpress laying off 128 people.
In 1999, Citizens acquired the United States Trust Company of Boston and the retail banking business of State Street Corporation, significantly increasing its footprint in Massachusetts. [ 12 ] Expansion outside New England began in 2001, when RBS purchased the retail banking division of Mellon Financial Corporation in Pennsylvania, New Jersey ...
On February 7, 2010, Reuters reported that CIT Group had announced that it was hiring Thain to replace interim CEO Peter Tobin. [31] [32] In 2013, CIT paid him $8.25 million. [33] On October 21, 2015, CIT Group announced that Thain will retire effective March 31, 2016, and will continue as chairman.
This made the company vulnerable to changes in the market, and following the financial crisis, the group plunged into debt. CIT lost £5 billion in the nine quarters up to fall 2009 under Peek's leadership. He resigned following an announcement from bondholders that the company would need to restructure $31 billion of debt.
In 1982, T. Boone Pickens, founder of Mesa Petroleum, offered to buy Cities Service Company.Citgo responded by offering to buy Mesa, [12] which was the first use of what became known as the Pac-Man take-over defense; i.e., a counter-tender offer initiated by a takeover target.
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