2/8/2010- CIT Group (NYSE:CIT) named John Thain, the former CEO of Merrill Lynch, as chairman and CEO of the company after about a four-month search for a replacement, according to a Bloomberg report.

Thain is replacing interim CEO Peter Tobin, who took over after Jeffrey Peek stepped down on January 15.

Kenneth D. Lewis pushed Thain out after Bank of America (NYSE:BAC) agreed to buy Merrill Lynch during the 2008 financial crisis.

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