CIT, a division of First Citizens Bank, said its Commercial Services business is tapping two industry veterans to support clients and drive growth in the company’s factoring business in the Northeast. The company named Howard Moore and Paul Pagano as business development directors.
CIT also said Michael Rayner was promoted to director and team leader for the West. “Based in Los Angeles, he helps cover the western region with responsibility for leading a team of account executives in overseeing and growing their respective portfolios while also effectively managing risk and driving growth,” CIT said in a statement.
Moore and Pagano will be based in New York and be responsible “for developing, maintaining and expanding client and prospect relationships across a wide range of business verticals,” the company said.
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Tom Fingleton, managing director and northeast regional manager for CIT Commercial Services, described Moore and Pagano as “experienced financial professionals with the expertise and skillsets needed to help grow our business. Fingleton said the addition of these leaders “demonstrates CIT’s commitment to supporting our clients and continuing to drive growth in this sector.”
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Moore previously served as vice president at Revolution Capital, and specialized in multiple different industry segments. CIT said Moore brings 15 years of experience “in factoring, asset-based lending, and specialty lending, having earlier worked in development positions at various financial institutions, including Rosenthal & Rosenthal and Gerber Finance.”
Pagano joins CIT from Milberg Factors. CIT said Pagano has 25 years of financing experience in a range of industries, “including factoring and commercial finance, apparel and design.” He also held leadership positions at Global Design Concepts, Ike Behar Apparel and Design, Le Tigre and Christian Dior Couture.
CIT said Rayner has been with the company for more than 20 years, most recently serving as a vice president, and account executive in Commercial Services. “He previously served as a senior underwriter at CIT and held various positions at Heller Financial including underwriter, unit manager and credit analyst,” CIT said, adding that Rayner has experience in portfolio management, client relations and new business generation.