CIT names new head of healthcare unit

William Douglass was previously an underwriting manager for CIT’s healthcare unit.

CIT Group has hired William Douglass to replace Steve Warden as the new head of its corporate finance segment’s healthcare unit, the firm announced on Monday.

Warden has left CIT to pursue new opportunities, a spokesperson told Private Debt Investor in an email.

In his new role, Douglass will oversee CIT’s healthcare financing and advisory activities, which includes syndicated cash flow financings, asset based loans, real estate financings and M&A advisory. Prior to being appointed head corporate finance, healthcare, Douglass was an underwriting manager for the unit, according to the statement.

“William’s extensive experience in corporate banking, leveraged lending and middle market healthcare finance makes him the ideal person to lead our healthcare group,” said CIT Corporate Finance president Jim Hudak in the statement. “His management and leadership skills fit well with our client-focused and industry centric model.”

Douglass joined CIT in 2009 from Citigroup, where he focused on mid-market lending junior debt. His time at Citi included stints in Business Finance Group, which provides senior financing to US companies, as well as with Citi Special Situations, where he helped launch the bank’s mid-market junior debt strategy.

CIT Corporate Finance, Healthcare provides financing and advisory services to companies in the healthcare industry, focusing specifically on hospitals, medical technology, manufacturing, pharmaceutical, outpatient, home care and healthcare IT sub-sectors, among others.