CIT Group appointed Michael Jones as managing director of CIT Equipment Finance, effective September 25. Jones will be based in Jacksonville, FL and will report to Steve Solk, president of CIT Business Capital.

Jones was previously senior vice president and managing director of Vendor Equipment Finance at EverBank Commercial Finance, with P&L responsibility for the division, which consisted of four discrete business verticals. He successfully transformed the organization’s go-to-market strategy and increased pre-tax income.

Prior to that role, he served within EverBank Equipment Finance as chief originations officer for a variety of industry verticals.

Before joining EverBank, Jones served as executive director of the Office Products Group at U.S. Bank Equipment Finance.

“I’m excited to welcome Michael to CIT. He’s a high-performing executive with over 20 years of experience in equipment finance across a wide variety of industry verticals,” Solk said. “Michael’s finance, leadership, operations and sales expertise will all help support CIT Equipment Finance’s future growth and the evolution of our business strategy. Further, he will continue to provide the high level of service that our vendor finance customers have come to expect from CIT.”

Jones said, “It’s a great privilege to join the Equipment Finance team at CIT, which is respected as a leader in the equipment finance industry and has an excellent reputation as a financial partner in the vendor community. I look forward to applying my experiences in senior equipment finance roles to my position at CIT.”