Commercial lender CIT Group named Vincent Faino as senior vice president of business development for its vendor finance division.
Faino, who comes to CIT from Textron Financial, will oversee the development of new vendor programs worldwide, including targeting, structuring and establishing new vendor relationships, developing new products and driving complementary growth strategies. He will report to Ron Arrington, global president of vendor finance.
“Vincent brings a wealth of experience having worked in the vendor finance industry and has built relationships over a number of years,” Arrington said in a press release. “He will be instrumental to our business and I look forward to working with him as we continue our focus on growth globally.”
At Textron, Faino served as president of the vendor finance segment, leading the non-captive and captive segments of this business unit.
Prior to Textron, he served as executive vice president and director of business technology finance at Citicapital, where he led the transition of Citigroup’s acquisition of EAB Leasing. Prior to this, he served in a number of roles at American Equipment Leasing.