CIT Group hires TIAA's Hubbard as top lawyer

CIT Group in New York has lured the top lawyer away from TIAA Bank and tapped him to be its next general counsel.

James Hubbard will join the $48.5 billion-asset company on Monday. He will report to Chairwoman and CEO Ellen Alemany.

cit-group-bl020810b — Pedestrians walk outside CIT headquarters in New York, U.S., on Monday, Feb. 8, 2010. John Thain, the ousted chief of Merrill Lynch & Co., was named to lead CIT Group Inc., the commercial lender that emerged from bankruptcy in December, after almost a four-month search for a replacement. Photographer: Daniel Acker/Bloomberg

Stuart Alderoty had been CIT’s general counsel since October 2016, after working at HSBC North America in the same position. Alderoty left CIT Group in January to become general counsel of Ripple, a San Francisco fintech involved in blockchain technologies.

Hubbard had been at the $37 billion-asset TIAA Bank and its predecessor company, EverBank Financial, since 2015.

Hubbard had previously worked for Fifth Third Bancorp and the Kaye Scholer law firm.

Alemany has been refocusing CIT Group’s business on its online consumer bank and commercial lending and has been disposing of noncore businesses. In December, CIT hired Robert Rubino from Santander Bank to the newly created role of president of its banking division.

Andy Peters

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