CIT names ex-Freddie Mac CEO Moffett to its board of directors

CIT Group Inc., a provider of financing to small businesses and middle market companies, has announced that David M. Moffett has been named to CIT's board of directors effective July 27, 2010. He will serve as a member of CIT's Audit Committee. Moffett is the former chief executive officer of Freddie Mac. Prior to this, he served as a senior advisor with the Carlyle Group LLC. He has also served as vice chairman and chief financial officer of U.S. Bancorp, and has held senior positions with a number of other banking institutions, including Firstar Corporation, Bank of America, Security Pacific, Sooner Federal Bank & Trust Company and First National Bank & Trust Company. Moffett earned a BA in economics from the University of Oklahoma and an MBA from Southern Methodist University. For more information, visit www.cit.com.