CIT Group Inc. announced it has hired Calvin Navatto as a Business Development Officer in its Commercial Services business.

Navatto will be based in New York City and focus on business development across a wide range of business verticals supported by Commercial Services, including apparel, footwear, housewares, consumer electronics, health and beauty aids, and more.

“Calvin is an experienced financial professional with the skills and experience to help grow our factoring and asset-based lending services across a variety of industries,” said Tom Fingleton, Managing Director and Northeast Regional Manager for CIT’s Commercial Services unit.

Prior to joining CIT, Navatto served for nearly four years as a Senior Vice President in capital finance at UMB Bank. Earlier in his career, he worked in varying capacities at a number of financial institutions, including NewStar Business Credit, First Capital, Sun National Bank, Marquette Commercial Finance and Webster Business Credit.

Commercial Services, part of CIT’s Commercial Finance division, is one of the nation's leading providers of working capital solutions, factoring, credit protection, accounts receivable management and lending services to consumer product companies, manufacturers, dealers, importers and resellers.