First Citizens Bank promoted Marc Heller to vice chairman of CIT Commercial Services, a subsidiary of First Citizens Bank, and Michael Hudgens to president of CIT Commercial Services with full responsibility for the day-to-day operation of the business. The new appointments will go into effect on July 1.
Since joining CIT in 2004, Heller has been a part of CIT Commercial Services’ growth and development, first as Northeast regional manager and subsequently as president, a role he has served in since 2016. In his new role as vice chairman, Heller will continue to support the business, maintaining and expanding client relations while overseeing the transition of management responsibilities. Heller will also continue to provide strategic advice and guidance on business activities and new initiatives.
Since March 2022, Hudgens has served as managing director for all of CIT Commercial Services, supervising regional managers in the Northeast, Southeast and West. As president, his role will expand to include oversight of all CIT Commercial Services leaders and executives with primary responsibility for business growth. Hudgens has experience in factoring and other financial services. He is a veteran of 35 years with CIT Commercial Services, including more than a decade as Southeast regional manager.
“I want to congratulate Marc Heller and Mike Hudgens on their new roles as we look to accelerate growth in CIT Commercial Services and continue positioning the business for long-term success,” Peter Bristow, president of First Citizens Bank, said. “We are extremely fortunate to have two extraordinary individuals with unparalleled expertise in this field leading our business and supporting our clients.”
“CIT Commercial Services is a unique lender with outstanding experience and expertise,” Heller said. “I am pleased to continue supporting the business and its existing clients while continuing to collaborate with Mike Hudgens to introduce new consumer products companies to the many ways we can help them better finance their operations and growth.”
“I am proud to assume the position of president of CIT Commercial Services, widely known as one of the best and most experienced lenders in the field,” Hudgens said. “After all we’ve accomplished, our business still has tremendous room for growth and I look forward to helping us realize that potential in the months and years ahead.”
Last month, First Citizens announced Thomas Fingleton had been named chief strategy officer for CIT Commercial Services, with Amna Mahmood being promoted to Northeast regional manager and Daniel Goll being named national underwriting manager.
