CIT Capital Equipment Finance Adds Several Former GE Capital Execs



CIT Capital Equipment Finance made several key appointments, naming Steve Bander, Jason Fronheiser, Brandon Hannanman, Michael Tronichia, Kevin Ronan and Edward Ciccone directors, while Scott Schumacher was named vice president.

Bander will be responsible for originations for the Midwest region of the U.S. Prior to joining CIT, he held positions of increasing responsibility at U.S. Leasing Corporation, Heller Financial, Lendx, Merrill Lynch Capital, GE Capital and Huntington Equipment Finance.

Fronheiser will be responsible for originations for the Southwest region of the U.S. Prior to joining CIT, he held positions of increasing responsibility at Fifth Third Bank and GE Capital.

Hannaman will be responsible for originations for the Western region of the U.S. He previously served as senior vice president at GE Capital where he covered Northern California and Hawaii, specializing in leases and loans for middle market companies. Hannaman has additional financing experience in corporate aircraft, real estate and corporate lending.

Tornichia will be responsible for originating large ticket equipment leasing and lending relationships as well as project finance-related activities within the Northeast region of the U.S. He previously served as senior vice president at GE Capital and held positions of increasing responsibility at Bank of America and Nations Equipment Finance.

Ciccone joins CIT as director and head of underwriting for Capital Equipment Finance. Previously, Ciccone was with GE Capital for 23 years, where his experience included equipment financing, corporate aircraft financing, franchise finance, cash flow lending and credit rating methodologies.

Schumacher will be responsible for asset management and report to Kelly Lane, who was recently promoted to director and head of asset management. Schumacher previously served as vice president at SunTrust Equipment Finance.

In addition, Kevin Ronan was appointed buy-desk director and will originate transactions through financial intermediaries. He will work with Rob Seltzer, who was recently named national sales manager. Ronan has more than 25 years of experience in the equipment finance industry and has held various sales leadership roles at GE Capital and RBS Citizens Asset Finance.

“I am very pleased to announce the appointment of these industry leaders to CIT Capital Equipment Finance,” said Eric Miller, group head and managing director of CIT Capital Equipment Finance. “In addition to the deep industry relationships and market expertise these seasoned veterans bring to our team, the elevation of several key members and further expansion of our group will enable us to build a best-in-class originations team committed to meeting the capital equipment financing needs of the middle market. These strategic appointments will expand our direct originations platform and allow us to offer large ticket equipment financing solutions across the entire United States and deliver strong value to our customers.”

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