David M. Moffett has been named to the board of directors at CIT Group Inc., a century-old middle market business lender that emerged from Chapter 11 just seven months ago after filing for bankruptcy in November 2009.

Moffett served as CEO of Freddie Mac for a very short period during one of the most tumultuous times in the GSE’s history, from when it was placed into conservatorship by the federal government in September 2008 to March 2009.

In CIT’s second quarter earnings= announcement this week, in which the company beat market expectations with a $142 million profit, CEO John Thain trumpeted the appointment of Moffett and other executives recently as actions that “largely completed the build-out of our senior management team.”

In addition to serving on the company’s board, Moffett has also been named as a member of CIT’s audit committee.

Moffett has held a number senior positions within the private financial sector. His earlier posts included tenures at Carlyle Group LLC, U.S. Bancorp, Firstar Corporation, Bank of America, Security Pacific, Sooner Federal Bank & Trust Co., and First National Bank & Trust Co.

Founded in 1908, CIT became a bank holding company in 2008 in order to qualify for fiscal support from the federal government’s Troubled Asset Relief Program (TARP). The firm now has over $40 billion in finance and leasing assets. It provides financing and leasing capital to more than one million small business and middle market clients across more than 30 industries.