CIT Group President of CIT Bank, N.A and Head of Commercial Banking Robert Rubino receives $9M in 2019
CIT Group reports 2019 executive compensation
By ExecPay News
Published: April 2, 2020
CIT Group reported fiscal year 2019 executive compensation information on April 2, 2020.
In 2019, five CIT Group executives received on average a compensation package of $5.6M, a 48% increase compared to previous year.
Average pay of disclosed executives at CIT Group
Robert Rubino, President of CIT Bank, N.A and Head of Commercial Banking, received $9M in total. 49% of Rubino's compensation, or $4.4M, was in stock awards. Rubino also received $2.8M in bonus, $1.1M in non-equity incentive plan, $679K in salary, as well as $12K in other compensation.
For fiscal year 2019, the median employee pay was $93,434 at CIT Group. Therefore, the ratio of Robert Rubino's pay to the median employee pay was 96 to one.
Ellen R. Alemany, Chief Executive Officer, received a compensation package of $8.3M, which decreased by 7% compared to previous year. 60% of the compensation package, or $5M, was in stock awards.
David M. Harnisch, President, Commercial Finance, earned $4.2M in 2019.
John Fawcett, Chief Financial Officer, received $3.8M in 2019, which increases by 7% compared to 2018.
Philip Robbins, President of Asset Management and Capital Markets, earned $2.7M in 2019.
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Source: SEC filing on April 2, 2020.