Ms Foster will report directly to Jeffrey Peek, the chairman and CEO of the company. The company also announced that Lawrence Marsiello, the vice chairman and chief lending officer of the company, will be resigning on February 29, 2008.
Ms Foster will be responsible for global credit oversight and enterprise-wide risk management and will chair the company’s newly created enterprise risk management committee. She will also work closely with the nominating and governance committee of CIT’s board of directors which is responsible for the oversight of the company’s risk management functions.
Prior to joining CIT, Ms Foster was group senior vice president at LaSalle Bank, a wholly owned subsidiary of ABN AMRO.
