CIT Names Ronan Group Head of Capital Equipment Finance Business

CIT, a division of First Citizens Bank, named Kevin Ronan, senior vice president and managing director, the group head of its capital equipment finance business.

Ronan will oversee the company’s capital equipment finance business and directly lead an 11-person originations team responsible for delivering a range of lease and debt financing options coupled with terms tailored to meet the needs of commercial clients.

Previously, Ronan served as national sales director for CIT’s capital equipment finance business’ direct and indirect sales channels. He is based in New York and will report to Philip Robbins, executive vice president at CIT.

“Kevin’s extensive experience and knowledge in managing capital equipment finance sales and consistent ability to deliver for our clients positions him very well in this role,” Robbins said. “With over a decade at CIT and 30-plus years in equipment finance, Kevin is well-respected, and he’s proven to be a valuable, inclusive and client-focused business leader who has successfully delivered strong client outcomes within the capital equipment finance business.”

Prior to joining CIT in 2012, Ronan worked as a senior-level equipment finance sales executive for several financial institutions, including RBS/Citizens Asset Finance, Young America Capital and GE Capital.

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