CIT Group named Michael Vallorosi as managing director of its franchise finance business and Christopher Wren as a sales vice president of its restaurant franchise finance practice.

“Mike’s deep expertise in restaurant financing makes him ideally suited to lead our franchise business,” said Mike Jones, managing director of CIT’s equipment finance business. “This new position expands his current role leading CIT’s large-cap franchise business to now include our mid-cap, multi-unit franchisee financing business.

“With this announcement, we are also excited to welcome Christopher Wren to our commercial team. Wren’s extensive experience at prominent restaurant franchisors provides him with unique insights that will benefit our growth-oriented, franchisee clients. These two strategic appointments further demonstrate our commitment to bring exceptional value to our clients through our highly-experienced team, who bring a history of success in assisting franchisors and franchisees.”

With more than 30 years of experience in banking and more than 20 years in restaurant financing, Vallorosi joined CIT in March 2016 following a series of franchise finance leadership positions at TD Bank and First Franchise Capital (formerly Irwin Financial).

Wren joins CIT with more than 20 years of international experience in franchising, including senior roles at YUM! and Dine Equity. Most recently, he was CEO of IMO Car Wash USA based in Denver.