CIT Group Inc. announced leadership updates as the company continues to focus on growth and development of its core business lines. Mike Jones, who previously led the company's Equipment Finance business, was named as president of the Business Capital unit, effective immediately. Jeff Lytle, currently a senior vice president in CIT's Rail operation, has been named as president of the Rail business, effective April 1, 2018. In these roles, both will report to CIT Chairwoman and Chief Executive Officer Ellen R. Alemany and serve on the company's Executive Management Committee.