CIT COO Mason to step down

CIT Group, a commercial lender that recently emerged from bankruptcy, said its president and chief operating officer, Alexander Mason, will step down later this month.

CIT named Mason as COO in June 2008. He was previously a vice chairman and COO at Mercantile Bankshares Corp.

Mason will step down on Feb 26, CIT said.

(Reporting by Dan Wilchins; editing by Gunna Dickson)