Harold Ray, director of the industrial finance division at CIT, is set to take the stage for a fireside chat to discuss the state of the equipment finance industry amid a rising interest rate environment and inflationary pressures at Equipment Finance Connect on Tuesday, Feb. 28, at 9:05 a.m. ET at the Westin Charlotte.
Ray currently leads financing for industrial equipment at CIT and has more than 30 years’ experience in equipment finance. His responsibilities include overseeing a nationwide team of industrial lending and leasing executives, with a special focus on construction and industrial equipment.
Ray first joined the equipment finance division at CIT Group in 1992 and has held several roles during his tenure prior to leading the industrial finance division, one of the largest and fastest-growing segments of First Citizens Bank’s Equipment Finance division, according to the company. First Citizens Bank acquired CIT in January for $2.2 billion.
First Citizens Equipment Finance works with manufacturers, distributors, resellers, dealers and systems integrators to finance their equipment, software and services to commercial customers.
CIT was the ninth-largest equipment lender at yearend 2021 with $16.2 billion in assets, according to the Monitor 100. Raleigh, N.C.-based CIT originated $3.8 billion in new business volume in 2021, and had 933 employees at yearend 2021, according to the Monitor 100.
Equipment Finance Connect is the first event in the industry to offer equipment vendors one-on-one access to finance providers, as well as to foster F&I best practices in the industry. View the agenda here.