CIT Group, Inc.

CIT Group, Inc.

CIT Group, Inc.

Overview
Date Founded

2001

Headquarters

11 WEST 42ND STREET NEW YORK NY 10036

Type of Company

Public

Employees (Worldwide)

3,609

Industries

Retail & Commercial Banking
Holding Companies

Company Description

CIT was born in 1908 when Henry Ittleson found a new way to make financing available to businesses in St. Louis, Missouri. Soon CIT was forging paths across the country, into Canada and overseas. After 100 years, financing remains at the heart of the company. But time and experience have produced innovations unimagined a century ago. True to its pioneering legacy, CIT remains an agent of opportunity, providing new resources and fresh perspectives to over one million clients across thirty industries around the globe.

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Executives & Employees

Chief Executive Officer

President-Commercial Finance

President & Co-Head, Corporate Finance

Executive Vice President & Chief Financial Officer

Executive Vice President, General Counsel & Corporate Secretary

Chief Communications & Marketing Officer

Chief Technology Officer

Executive Vice President & Chief Compliance Officer

Chief Risk Officer & Executive Vice President

Chief Auditor & Executive Vice President

Paths to CIT Group, Inc.
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CIT Group, Inc.
Owners & Shareholders
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FPA uses a variety of sources of information to facilitate methods of analysis. In formulating investment strategies, they may consult with research analysts, specific broker-dealers, economists and others. The firm may also attend company presentations, participate in interviews and industry sponsored conferences and may also engage in discussions with management and others having business with the company or expertise in a particular industry. FPA’s equity and fixed income styles are linked by a common fundamental value orientation. The firm provides management services primarily in a value investment style for the following products: Absolute Fixed Income, Contrarian Value, International Value, Small/Mid-Cap Absolute Value, US Value, and World Value. They may also develop other investment strategies from time to time and manage portfolios according to a client’s specific investment guidelines, thus strategies may vary by client account.

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FTAM uses both fundamental and quantitative research as methods of analysis for their investment strategies; however, their investment approach does not fall into either the traditional fundamental or quantitative categories. The firm believes that while stock markets are efficient most of the time, behavioral anomalies can arise under certain circumstances, resulting in exploitable mispricing opportunities. FTAM’s strategies primarily invest in US listed companies and are a long only or a long/short strategy and may employ futures, ETFs and leverage. Their investment strategies include small-cap growth, small-cap value, small-cap core, behavioral small-cap equity, mid-cap value, micro-cap, low volatility behavioral equity market neutral and behavioral unconstrained equity.

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TSW uses a combination of fundamental and quantitative analysis as the basis for their investment processes. Their typical assignments involve a specific strategy, such as \"mid-cap value\" or \"core plus fixed income\" in which they use a variety of equity and/or fixed income processes to select securities that are designed to outperform a specific industry benchmark. In other instances, usually for high net-worth clients, the strategies may be combined in order to produce a \"balanced portfolio\" to meet a specific client asset allocation objective or industry benchmark. TSW's strategies include: Equity (Domestic and International), Strategic High Income, Fixed Income, Custom Balanced, and WPS (long/short equity).

Recent Transactions
Details Hidden

CIT Group, Inc. purchases Mutual of Omaha Bank - Nebraska from Mutual of Omaha Insurance Co.

Details Hidden

VTG AG purchases NACCO SAS from CIT Group, Inc.

Details Hidden

Aves One AG purchases Nacco Luxembourg SARL from CIT Group, Inc.

Transaction Advisors
Underwriter

Advised onCIT Group, Inc. issued USD Common Stock

Underwriter

Advised onCIT Group, Inc. issued USD Common Stock

Auditor

Advised onCIT Group, Inc. issued USD Common Stock

Associate

Advised onVTG AG purchases NACCO SAS from CIT Group, Inc.

Legal Advisor

Advised onCIT Group, Inc. purchases Mutual of Omaha Bank - Nebraska from Mutual of Omaha Insurance Co.

Legal Advisor

Advised onVTG AG purchases NACCO SAS from CIT Group, Inc.

Advisors & Consultants
Legal Advisor

Partner at Jones Day

Legal Advisor

Co-Chair, Banking & Leveraged Finance Group at Bingham McCutchen LLP

Legal Advisor

Partner at Schulte Roth & Zabel LLP

Clients

JG Summit Holdings, Inc. is one of the leading companies in the Philippines with business interests in: Air Transportation, Banking, Food Manufacturing, Petrochemicals, Real Estate, Hotels & Property Development, and Telecommunications.

USD Partners LP is fee-based limited partnership company, which engages in the acquisition, development, and operation of midstream infrastructure and logistics solutions for crude oil, biofuels, and other energy-related products. It operates through the following segments: Terminalling Services, and Fleet Services. The Terminalling Services segment includes minimum monthly commitment fees under multi-year take-or-pay contracts to load and unload various grades of crude oil into and from railcars, as well as fixed fees per gallon to transload ethanol from railcars. The Fleet Services segment provides customers with leased railcars and fleet services related to the transportation of liquid hydrocarbons and biofuels by rail on a multi-year and take-or-pay basis. The company was founded by Michael R. Curry on June 5, 2014 and is headquartered in Houston, TX.

Key Stats and Financials As of 2019
Market Capitalization
$2.02B
Total Enterprise Value
$10.7B
Earnings Per Share
$5.27
Total Debt
$6.72B
Three Year Compounded Annual Growth Rate Of Revenue
1.78%
Debt TEV
0.63x
TEVNet Income
20.14x
Enterprise Value / Sales
3.38x
Total Equity
$6.34B
Net Profit
$530M
Revenue
$3.16B
Non-Profit Donations & Grants
$1 - $10K
2019
$10K - $25K
2019
Political Donations
Investments
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UPH Holdings, Inc., part of TNCI Operating Co. LLC, is an American company located in Austin, TX, that provides communications & networking services. On 09 Sep 13 TNCI Operating Co. LLC acquired UPH Holdings, Inc.

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Simplura Health Group engages in the provision of healthcare services. It offers home care services including assistance with activities of daily living and complex home nursing services. The company was founded in 1995 and is headquartered in Lynbrook, NY.

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TeraGo Networks, Inc. was provides telecommunications and information technology solutions services to businesses and other organizations. The company was founded in 1999 and headquartered in Thornhill, Canada.

Suppliers
Embraer SA Industrial Machinery & Manufacturing | São Paulo - Sp, Brazil

Embraer SA engages in the design, manufacture, and sale of aircraft and its parts for commercial, defense, and executive aviation sectors. It operates through the following segments: Commercial Aviation, Defense and Security, Executive Jet Business, Service & Support and Others. The Commercial Aviation segment is involved in the development, production, and sale of commercial jets; and the provision of support services to regional aviation and aircraft leasing. The Defense and Security segment engages in research, development, production, modification, and support for defense and security aircrafts, as well as other integrated products and solutions including satellites and information and communication systems. The Executive Jet Business segment deals with the development, manufacture, and sale of executive jets. The Service & Support segment provides after-service solutions and support to its customers through a comprehensive portfolio of innovative and competitive solutions to ensure operational efficiency of products manufactured by Embraer and by other aircraft manufacturers, extending the useful life of commercial, executive and defense aircraft. The Others segment refers to the supply of structural parts and hydraulic systems and the production of agricultural sprayers. The company was founded by Ozires Silva on August 19, 1969 and is headquartered in São Paulo, Brazil.

Liquidity Services, Inc. Other Business & Consulting Services | Washington, DC

Liquidity Services, Inc. engages in the provision of e-commerce solutions to manage, value, and sell inventory and equipment for business and government clients. It operates through the following business segments: GovDeals; Capital Assets Group; Retail Supply Chain Group; Machinio; and Corporate and Other. The GovDeals segment provides self-service solutions in which sellers list their own assets, and it consists of marketplaces that enable local and state government. The CAG segment offers full-service solutions to sellers and it consists of marketplaces that enable federal government agencies as well as commercial businesses to sell surplus, salvage, and scrap assets. The RSCG segment consists of marketplaces that enable corporations located in the United States and Canada to sell surplus and salvage consumer goods and retail capital assets. The Machinio segment involves in the global online platform for listing used equipment for sale in the construction, machine tool, transportation, printing and agriculture sectors. The Corporate and Other segment comprises company's IronDirect and TruckCenter operations. The company was founded by William P. Angrick III, Jaime Mateus-Tique and Benjamin Ronald Brown in November 1999 and is headquartered in Bethesda, MD.

Progress Software Corp. Other Business & Consulting Services | Bedford, Massachusetts

Progress Software Corporation (NASDAQ: PRGS) is a global software company that simplifies the development, deployment and management of business applications on-premise or on any Cloud, on any platform and on any device with minimal IT complexity and low total cost of ownership. The comprehensive Progress portfolio provides leading solutions for enterprise integration, data interoperability and application development, including SaaS enablement and delivery in the cloud. Progress solutions are used across a variety of industries, including Travel & Leisure, Capital Markets, and Communications

Awards & Honors
Rank #603
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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