CIT Group Inc. is rounding out its executive suite, taking another step toward normality for the financing company — and potentially earning regulators' approval for John Thain's planned shift toward a banking model.

CIT said Tuesday that it had hired Nelson Chai and Robert Rowe as chief administrative officer and chief credit officer, respectively. They were to begin immediately, and under CIT's cease-and-desist order, both hirings would have had to win approval from the Federal Reserve Bank of New York.

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