CIT Group announced that James R. Hubbard has been named the company's General Counsel and Corporate Secretary, effective March 18. Hubbard will join CIT's Executive Management Committee and report to Chairwoman and Chief Executive Officer Ellen R. Alemany.

"Jim is a seasoned lawyer with deep expertise in both commercial and consumer banking," said Alemany. "His leadership and background will be a strong addition to CIT as we advance the next phase of our strategic plan."

Hubbard will have oversight over the legal function and all outside counsel relationships, as well as responsibility for all business and corporate legal matters.

Hubbard joins CIT from TIAA Bank where he was the General Counsel and Secretary. Prior to that role, he served as the General Counsel and Secretary for Everbank Financial Corp. Hubbard spent 23 years in various legal roles at Fifth Third Bancorp, including as the Chief Legal Officer. Earlier in his career he was with the Kaye, Scholer, Fierman, Hays & Handler law firm, as well as the Front & Jacobs law firm.