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Despite CIT's turbulent history, CEO Al Gamper has hung on for nearly two decades:1984
Manufacturers Hanover buys CIT from RCA for $1.5 billion. Bank exec Gamper orchestrates deal.1987
Gamper put in charge after the unit underperforms.1989
Cash-strapped MH sells 60% of CIT to Japan's Dai-Ichi Kangyo Bank.1989-1997
While competitor GE Capital goes on buying spree, Gamper emphasizes slow internal growth.1997-1998
Dai-Ichi spins off its CIT stake in two offerings. Tech-crazy markets react coolly.1999
Gamper makes first big buy--Toronto-based finance company, Newcourt Credit--despite its last-minute writedown.2001
Tyco buys CIT for $9.5 billion, keeping Gamper as CEO.2002 JAN.2
Tyco says it will split into four companies, CIT among them.FEB.
Tyco reverses course but goes ahead with CIT spin-off.JUNE
SEC approves CIT IPO. Tyco estimates it will fetch up to $5.8 billion.