iStar Financial names CIT Group veteran as CFO

iStar Financial (SFI) named David DiStaso as chief financial officer. DiStaso served as chief accounting officer for the commercial real estate lender for two years and has been the firm’s principal financial officer since April. “He has demonstrated his ability to perform as CFO and earned the confidence of our board,” said Jay Sugarman, iStar’s chairman and CEO. DiStaso’s new position went into effect Dec. 21. Prior to joining iStar, he spent 11 years at CIT Group where he was chief financial officer of the consumer finance division. He also spent a decade in public accounting with audit and advisory firm KPMG. iStar Financial is a publicly traded company focused on commercial real estate. The company reported a net loss of $83.5 million, or 89 cents a share, for the third quarter of 2010. For the year-ago quarter, iStar lost $251.3 million, or $2.55 a share. Write to Christine Ricciardi. Disclosure: The author holds no relevant investments.