First Citizens Bank has announced that Michael Hudgens has been promoted to the role of CIT Commercial Services president, where he will be fully responsible for the day-to-day management of the company, and that Marc Heller has been promoted to the position of vice chairman of CIT Commercial Services, a First Citizens Bank subsidiary. The new positions go into effect on July 1.
For more than 50 years, Heller has been a pioneer in commercial lending. Heller has played a crucial role in CIT Commercial Services’ growth and development since joining the company in 2004, initially as the Northeast regional manager and most recently as its president since 2016. CIT Commercial Services, which he oversaw, became a national leader in factoring, credit protection, accounts receivable management, and lending services to firms that produce goods for consumers, as well as dealers, importers, and resellers.
Heller will continue to actively assist the company in his new position as vice chairman, maintaining and enhancing client relationships while ensuring a seamless transfer of management responsibilities. Additionally, Heller will keep giving strategic direction and assistance for business activities and fresh projects.
Hudgens has been the managing director of CIT Commercial Services since March 2022. She is in charge of the Northeast, Southeast, and West regional managers. His responsibilities as president will broaden to encompass management of all CIT Commercial Services leaders and executives with a focus on business expansion. Hudgens has extensive experience in financial services, including factoring. He has worked for CIT Commercial Services for 35 years, including more than ten years. Peter Bristow, president of First Citizens Bank, said “I want to congratulate Marc Heller and Mike Hudgens on their new roles, as we look to accelerate growth in CIT Commercial Services and continue positioning the business for long-term success.” “We are incredibly fortunate to have two extraordinary people leading our business and assisting our clients who have unmatched expertise in this field.”
According to Heller, “CIT Commercial Services is a special lender with exceptional experience and expertise.” I’m happy to continue working with Mike Hudgens to bring new consumer products companies to the various ways we may assist them better fund their operations and growth. I’m also happy to continue supporting the company and its current clients.
“I am honoured to take on the role of CIT President. Commercial Services, widely known as one of the best and most experienced lenders in the field,” Hudgens said. “After all we’ve accomplished, our business still has tremendous room for growth and I look forward to helping us realize that potential in the months and years ahead.”
These latest announcements come on the heels of other recent changes in CIT Commercial Services as the business continues to align itself for success. Last month, First Citizens announced that Thomas Fingleton had been named chief strategy officer for CIT Commercial Services, with Amna Mahmood being promoted to Northeast regional manager and Daniel Goll being named national underwriting manager.
