• Michael A. Carpenter

    CIT Board Member

    Carpenter joined the CIT board in May 2015 and also serves as a board member for CIT Bank, N.A. He served as chief executive officer of Ally Financial Inc. from November 2009 to February 2015 and as a member of its board of directors from May 2009 to February 2015. Carpenter previously served on the CIT board in 2009, a position he left to become CEO of Ally Financial Inc. In 2007, he founded Southgate Holdings. From 2002 to 2006, he was chairman and chief executive officer of Citigroup Alternative Investments, overseeing $60 billion of proprietary capital and customer funds globally. From 1998 to 2002, Carpenter was chairman and chief executive officer of Citigroup's Global Corporate & Investment Bank with responsibility for Salomon Smith Barney Inc. and Citibank's corporate banking activities globally.

    Prior to Citigroup, he was chairman and CEO of Travelers Life & Annuity and vice chairman of Travelers Group Inc. From 1989 to 1994, he was chairman of the board, president and CEO of Kidder Peabody Group Inc., a wholly owned subsidiary of General Electric Co. From 1986 to 1989, he was executive vice president of GE Capital Corp. and he joined GE in 1983 as vice president of corporate business development and planning. Earlier in his career, Carpenter spent nine years as vice president and director of the Boston Consulting Group and three years with Imperial Chemical Industries of the U.K.

    Carpenter received a Bachelor of Science degree from the University of Nottingham, England, and an MBA from Harvard Business School. He holds an honorary doctorate in law from the University of Nottingham. He serves on the boards of Autoweb Inc., U.S. Retirement Partners, Rewards Network, Client 4 Life Group and the New York City Investment Fund. Carpenter has previously served as a board member of the New York Stock Exchange, General Signal, Loews Cineplex and various other private and public companies.