Mnuchin leaves CIT board

CIT Group, a leading provider of commercial lending and leasing services, has announced that Steven Mnuchin has resigned from its board of directors, effective immediately, after being nominated by president-elect Donald Trump as the next secretary of the Treasury.

“On behalf of the entire board, I want to thank Steven for his contributions to CIT,” said Ellen Alemany chairwoman and CEO. “Steven has been a valued member of our board, and we wish him well in this monumental role.”

Mnuchin, a former Goldman Sachs partner, was also the founder of a hedge fund group which was responsible for the sale of OneWest bank to CIT in 2015 for $3.4 billion.