Daly draws upon more than 30 years of experience in credit administration and secured lending. Before being named President in 1999, Daly was Executive Vice President and Senior Credit Officer of CIT Commercial Services. In that position, he was responsible for risk management, asset quality and employee development and training. Daly led the acquisition and integration of the HSBC, GE and SunTrust factoring portfolios. In March 2006, he completed the purchase of a German factoring company, CIT's first international factoring acquisition. Today, CIT Commercial Services (Europe) represents CIT in the European factoring market. 

Daly has always been actively involved in business development and client relationship management while monitoring account growth and assuring superior credit quality. He has worked closely with manufacturers and retailers throughout his career, which began in 1973 in the credit department of Manufacturers Hanover Commercial Corporation. Daly is involved in a number of apparel, textile and credit groups, including the Turnaround Management Association and the Commercial Finance Association. Daly is on the board of the Fashion Institute of Technology Educational Foundation. He is also a National Trustee of the National Jewish Medical and Research Center.

Daly earned a BS in Economics from St. John’s University. He also attended a graduate program in finance at Baruch College and the Wharton Advanced Management Program.

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