CEO expects to retire next year, the company announced in a Wednesday afternoon news release.
Additionally, the company said that it is exploring sales for its Canada and China businesses and it is looking at "strategic alternatives" for its $10 billion commercial air business.
"Over the past five years we have made significant progress in transforming CIT," Thain said in a release. "Following the completion of our OneWest Bank acquisition, we have decided to explore the strategic alternatives for our Commercial Air business and to sell our...