Philadelphia (April 5, 2023) – LEAF Commercial Capital Inc. (“LEAF”), a leading U.S. equipment leasing and finance company and a subsidiary of M&T Bank, today announced that Miles Herman, formerly LEAF president and COO, is assuming the role of CEO, with former CEO Crit DeMent continuing to serve the company as chairman.
“It’s been a privilege to work with Crit as we’ve built LEAF from inception to now being part of the 11th largest bank in the country,” said Herman. “Over and over again, Crit has earned his reputation as a leading figure in the equipment finance industry, and it will be my honor as the CEO to continue working with him to grow the company we created together.”
Veterans of the industry for nearly 40 years, DeMent and Herman founded LEAF in 2001. In 2017, the company became a People’s United Bank subsidiary, which was then acquired by M&T Bank in 2022.
“I’ve been incredibly fortunate to serve as LEAF’s CEO since the beginning alongside Miles as COO,” said DeMent. “Having worked closely with Miles for so many years, I know no one better equipped to continue moving LEAF forward. He has been instrumental in building LEAF into the company it is today. I couldn’t be more pleased to hand the reins of CEO over to him while supporting his efforts by serving as LEAF’s chairman.”
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About LEAF Commercial Capital
LEAF Commercial Capital Inc. (“LEAF”) is headquartered in Philadelphia, with offices in Moberly, Missouri; Baltimore, Dallas and Orange, California. From the office to the factory floor to the server room, wherever customers need equipment, we make it affordable. Trusted by 250,000 companies and organizations of all sizes across the U.S., LEAF Commercial Capital Inc., supported by the strength of M&T Bank, offers customized financing that helps our customers solve real problems. When businesses need financing or need to offer financing, they achieve more with LEAF.
About M&T Bank
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the northeastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T’s Wilmington Trust-affiliated companies and by M&T Bank.
