CIT’s capital equipment finance business hired Thomas Linebarger and Scott Ryan as business development directors and promoted Erick Berreondo to business development director.

Linebarger’s territory will cover the Great Lakes region, Ryan will be responsible for the Northeast and Berreondo will join the indirect originations sales channel. All three will be responsible for developing, maintaining and expanding client and prospect relationships within their respective areas.

“CIT has an excellent reputation as an industry leader in leasing and financing of capital equipment,” David Harnisch, president of commercial and real estate finance at CIT, said. “These additions and promotions demonstrate CIT’s commitment to supporting our clients and continued growth in this vital industry sector.”

“The addition of Tom, Scott and Erick will further drive CEF’s growth in 2022 and beyond,” Kevin Ronan, senior vice president and national sales director for capital equipment finance, said. “All three are well-respected, customer-centric sales executives within the equipment finance industry. I am excited to welcome Tom, Scott and Erick to our CEF sales team and look forward to celebrating their long-term success at CIT.”

Linebarger joined CIT with more than 30 years of commercial equipment sales experience, a majority of which has been focused on middle-market companies in the upper Midwest region. He has experience in the transportation, automotive, construction and manufacturing industries.

With 35 years of equipment finance experience, Ryan joined CIT after most recently serving as a director in the equipment finance group at Citizens Bank. Earlier in his career, he spent more than 20 years with the equipment finance group at GE Capital and GE Antares.

Berreondo, who joined CIT in 2014 as a senior credit underwriter, will be the director of originations, covering banks, captives and independents. Prior to CIT, he worked at AlixPartners as a turnaround advisor and previously held positions of increasing responsibility at GE Capital in credit and new business development.