CIT Group announced the appointment of Marisa J. Harney as Executive Vice President, Chief Credit Officer, effective immediately. Harney will report directly to Executive Vice President and Chief Risk Officer Robert Rowe.

“We are pleased to have Marisa join CIT and our senior management team,” said Rowe. “Marisa is a highly regarded credit professional with several decades of experience. She brings to our organization a wealth of knowledge and strong credit skills in the products and industries in which CIT continues to focus as we execute our strategic initiatives.”

Harney’s primary responsibilities will include setting credit policy and overseeing the transaction approval process across CIT’s three operating segments, as well as overseeing the Company’s special assets function. She will also ensure the regular review, adherence to, and effective communication of credit policy and procedures across the organization.

“I’m excited to join CIT and to have the opportunity to help the company continue its strong credit risk management and further nurture its strong risk culture,” said Harney.

Harney most recently served as chief risk officer, GE Capital Americas, with oversight of all risk activities. She previously served as head of corporate credit risk of the Americas for Bank of America after spending 11 years in various roles of increasing responsibility in both the credit and risk departments. While at Bank of America, she also served as credit executive for various segments that included leveraged finance, consumer/retail, media/telecom and specialized industries. Before Bank of America, she served as unit head for Chemical Bank’s and CIBC World Markets’ Media & Telecom groups and as a senior credit executive for Credit Suisse First Boston.