CIT Commercial Services Promotes Tony Cheng to VP Client Service Officer

CIT, a division of First Citizens Bank, is pleased to announce that Tony Cheng will now be serving as vice president, client service officer in its Commercial Services business.

Cheng is based in Los Angeles and will be the primary contact for several clients in the Western Region. He will be responsible for managing the overall relationship with clients, which includes balancing client needs and expectations with policies, procedures and risk tolerances of Commercial Services.

“With his 25 years of experience, deep industry knowledge and a commitment to delivering results, I am confident that Tony will be a valued contributor to the Credit Department and to the success of our region,” said Darrin Beer, managing director and western regional manager for CIT Commercial Services.

Cheng most recently served as client accounting and operations manager at CIT, where he led a team directly responsible for all aspects of factoring operations. He held various other positions at CIT, including account executive/client service officer, senior underwriter, regional/divisional customer credit manager and special handling credit officer. Prior to joining CIT, Cheng served as a senior credit analyst at Heller Financial where he began his career.

Commercial Services is one of the nation's leading providers of working capital solutions, factoring, credit protection, accounts receivable management and lending services to consumer product companies, manufacturers, dealers, importers and resellers.

About CIT

CIT is a division of First Citizens Bank, the largest family-controlled bank in the United States, continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. Parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $100 billion in assets. The company's commercial banking segment brings a wide array of best-in-class lending, leasing and banking services to middle-market companies and small businesses from coast to coast. First Citizens also operates a nationwide direct bank and a network of more than 600 branches in 22 states, many in high-growth markets. Industry specialists bring a depth of expertise that helps businesses and individuals meet their specific goals at every stage of their financial journey. Discover more at cit.com/firstcitizens.