CIT Group Inc., the commercial lender led by former Merrill Lynch & Co. Chairman John Thain, increased its quarterly dividend 50 percent amid frustration from investors seeking bigger capital returns.
CIT Group Inc. Chief Executive Officer John Thain, whose commercial lending firm has drawn takeover speculation, said the logic of selling to a larger bank is “obvious.”
John Thain, who sold Merrill Lynch & Co. for a premium at the height of the financial crisis, has transformed the once-bankrupt lender CIT Group Inc. into an enticing takeover target for some of the largest banks.
"The key is being big enough so that you can support all of the costs of regulation."
- John Thain on Aug 06, 2014