John Thain, the former chief executive of Merrill Lynch & Co., has been named chief executive of CIT Group as the commercial lender tries to establish itself after emerging from bankruptcy.

CIT [CIT] was not available for comment, but in a public statement Sunday, the company said the change is effective immediately.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access