Managing Director, CIT Vendor Finance, Europe CIT Group Inc. Cormac Costelloe is a managing director of CIT Vendor Finance, Europe, a unit of CIT Group Inc. (NYSE: CIT), a leading global provider of commecial and consumer financing.

Costelloe was appointed managing director of CIT Europe in February 2006. Based in Dublin in CIT’s integrated European Service Centre he is responsible for leading a European Senior Management charged with delivering significant volume, asset and net income growth across the European equipment finance market where CIT has an established and significant presence particularly in the IT leasing and Vendor Finance space.

Costelloe joined CIT in September 2002 as chief credit officer where he was responsible for all aspects of CIT’s European risk function.

Prior to CIT, he held senior level positions in Business Development, Corporate Finance and Risk at ABN-Amro, ING Barings, Banque Paribas and Hewlett-Packard where he was responsible for the EMEA Credit Function and was part of the team that set-up Hewlett-Packard’s captive bank in Irelands International Financial Services Centre.

Costelloe holds a Bachelor’s degree in Commerce and a Masters degree in Banking and Finance from University College Dublin.