Icahn supports Thain as new CIT CEO

SAN FRANCISCO (MarketWatch) — Activist investor Carl Icahn said Monday that he supports the appointment of John Thain as chief executive of lender CIT Group . Icahn Associates, an investment firm run by Icahn, bought a lot of CIT debt and pushed for changes to the company’s board as it went through bankruptcy last year. When CIT emerged, Icahn’s firm became one of the largest shareholders of the company. “He’s a very good pick for the job,” Icahn said in an interview. “Thain has a pretty good history of operations and making things happen.” Icahn also said CIT has “great” lending platforms that could be revived with access to cheaper and more stable financing. “We’re hoping he can bring those platforms back to use,” Icahn said. “One of the things we hope would be to build the bank up to finance more loans through there.”