Merrill Lynch Veteran Leads CIT Government Relations
CIT Group (CIT) appointed 20-year governmental affairs veteran Margaret Tutwiler as executive vice president and head of government relations. Positions such as these are expected to become more and more common given the heightened regulatory environment. Every large mortgage finance firm will be expected to hire a government liaison to more with Federal compliance officers. She will lead the team that acts as the company's liaison in government affairs, beginning today. She will also head up communications and marketing at the firm. Formerly of Merrill Lynch, Tutwiler reports to chairman and CEO -- and fellow Merrill veteran -- John Thain. "Margaret's extensive governmental affairs and communications experience will play an important role as we look to strengthen CIT's brand identity, which remains focused on supporting the small business and middle markets," Thain said, adding "I look forward to working again with Margaret." Thain, formerly Merrill Lynch CEO, stepped down from his post as president of global banking, securities and wealth management operations at Bank of America (BAC) -- Merrill's successor -- in January. Most recently, Tutwiler served as senior vice president and head of global communications and public affairs at Merrill Lynch. Before that, she led government relations at NYSE Euronext (NYX) and its predecessor NYSE Group. At CIT, Tutwiler will oversee government and media relations and public affairs practices including community affairs and philanthropy. Write to Diana Golobay. Disclosure: the author holds no relevant investments.