CIT Announces Addition to Rail Division's Senior Leadership Team

CHICAGO, June 19, 2018 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced the appointment of Randy Kaploe to the senior leadership team of CIT's Rail division.

Kaploe joins as senior vice president and will lead the Rail division's sales efforts along the U.S. Gulf Coast, in Mexico and in Western Canada. In addition, he assumes responsibility for managing sales involving the plastic hopper and tank car leasing platforms. Kaploe succeeds Jeff Lytle, who became president of the Rail unit in April.

"I am excited to welcome Randy to the Rail team," Lytle said. "With more than two decades of experience in the railcar industry, he has the skills and the background to hit the ground running and immediately begin developing solutions and delivering value to our current and future customers."

Kaploe comes to CIT from Trinity Rail, where he was most recently employed as sales director. He has also served as a senior account manager, portfolio manager and quality leader at GE Capital Rail Services. He is a veteran of the U.S. Army, in which he served as a commissioned officer, and is a member of the Midwest Association of Rail Shippers and the Chicago Traffic Club.

CIT's Rail division offers a full suite of railcar leasing and equipment financing solutions to rail shippers and carriers across North America. It manages one of the youngest and most diversified railcar and locomotive fleets in the industry and leverages its deep experience to empower customers to succeed and prosper.

About CIT Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of March 31, 2018. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information, visit cit.com and follow us on Twitter, LinkedIn, YouTube and Facebook.

CIT MEDIA RELATIONS:                 John M. Moran 212-461-5507 [email protected] 

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SOURCE CIT Group Inc.