Tina Eickhoff,
Head,
U.S. Bank Equipment Finance

Leigh Lytle,
President & CEO,
Equipment Leasing and Finance Association

Yke Hoefsmit,
Chief Risk Officer and Member, Executive Board,
DLL

Over the past few years, large companies in the equipment finance space have appointed new women leaders. The Equipment Leasing and Finance Association appointed Leigh Lytle as president and CEO, succeeding Ralph Petta. U.S. Bank appointed Tina Eickhoff as head of the bank’s equipment finance business, succeeding Tony Cracchiolo. DLL appointed Yke Hoefsmit as the first female executive board member and chief risk officer; today, Hoefsmit is one of three women on the DLL executive board.

Monitor sat down with Lytle, Eickhoff and Hoefsmit to discuss their career journeys, definitions of success and various tidbits of advice — all to inspire women to enter the industry, advocate for themselves (and each other) and define, for themselves, what success means and how to achieve it.

CLIMBING THE RANKS, OVERCOMING THE CHALLENGES
Lytle, Hoefsmit and Eickhoff all agree: approaching challenges head-on will greatly contribute to one’s success as an equipment finance leader. Being courageous, staying curious and having the confidence to tackle big projects, tough questions and so forth is only going to benefit one’s leadership journey — whether failure accompanies the big leap or not.

For Lytle, her career path required the courage and confidence to flip “challenges” on their head to turn them into opportunities. In many cases, Lytle had to say “yes” to difficult problems and answer hard questions; though, she consistently built more confidence to trust herself and her team to figure it out along the way.

Hoefsmit credits her success to several key steps throughout her career. She has consistently sought opportunities to expand her knowledge and skills even after completing a master’s in business studies. She’s also committed, and remains dedicated, to building a strong professional network of mentors, colleagues and industry peers who offer her guidance, support, growth opportunities and
valuable outside-in perspectives.

Similar to Lytle, Hoefsmit is not one to shy away from challenges. “Each challenge has been an opportunity to learn from experiences and build resilience,” Hoefsmit says. “These experiences have prepared me to handle the complexities of the role I have today and as an executive board member.”

Finally, Hoefsmit is a strong advocate for diversity and inclusion, actively promoting both in her management teams. She upholds the highest standards of integrity and ethics, as she believes trust and credibility are foundational in this industry. “It goes without saying that, to achieve success in our field, it is imperative to demonstrate unwavering dedication and a strong work ethic,” Hoefsmit says. “Key drivers of my personal success have been: consistently striving for excellence, setting a positive example and remaining committed to and maintaining high standards of professionalism.”

For Eickhoff, continuously learning, staying curious and maintaining a positive attitude and growth mindset are imperative. Her path to success, which she recommends for other women, involved raising a hand for development opportunities, challenges, stretch assignments and high-profile projects. To her, feedback is a gift she requests often and acts upon accordingly. Like Hoefsmit, she also builds deep relationships and networks with colleagues, mentors and other leaders across U.S. Bank and the industry.

Climbing to such prominent positions, especially as challenge-takers, does not come without a significant number of hurdles. “Every week, there’s some sort of a hurdle — and if you’re not encountering hurdles very often, you’re probably not pushing yourself very hard,” Lytle says.

Hoefsmit also has faced many unique challenges, especially as the first female leader in several executive management and board positions — navigating unconscious biases, overcoming stereotypes and ensuring her voice is heard. “Fostering an inclusive culture that values diverse perspectives has been both a priority and a learning journey,” Hoefsmit says. “Throughout this process, I have found that effective communication is crucial for overcoming obstacles and driving meaningful change.”

WHAT DOES SUCCESS LOOK LIKE?
Being “successful” doesn’t look the same as it did years ago. At the beginning of her career, Lytle believed success meant climbing the ladder and taking on more, or higher-scale, responsibilities. She has since seen a shift in the definition of “success” to be tailored to the individual. “One person might define success as having a lot of time to spend out in nature, with their kids or on a hobby,” Lytle says. “Climbing the ladder and having a higher impact may still be what ‘success’ means for someone else.”

Hoefsmit has also seen a dramatic shift in the definition of success, particularly for herself. In the early stages of her career, she was focused more on performance targets, professional development, broadening responsibilities, gaining new skills and knowledge and establishing networks. Today, she views success through the lens of the impact her and her team have on the organization and the broader community. “Success now also includes the ability to inspire and mentor others,” Hoefsmit says. “Helping colleagues and team members grow and succeed in their own careers is a significant part of my professional fulfillment.”

Throughout her career, Lytle has been inspired by women who are fearless, whether they were dedicated to reinventing themselves or picking themselves up after challenging failures. “Early in my career, I was very scared of failure,” Lytle says. “As I learned and grew, I realized those failures were just more data that I could process and evaluate to then pivot my strategy and leave those failures behind.”

Hoefsmit is inspired by women who have played instrumental roles in building resilient organizations capable of adapting to changing market conditions and societal expectations. “Via long-term perspectives and strategic focus, we can help mitigate risks associated with short-term decision-making, such as environmental degradation, social inequality and economic instability,” Hoefsmit says. “This foresight is crucial for fostering innovation, as it encourages the development of products and services that meet the evolving needs of consumers.”

MENTORSHIP MAKES A DIFFERENCE
Women leaders often find themselves in a position to inspire and make a difference for other women they work with or otherwise know through industry events, committees and so forth. Building a network of women, or even one-off relationships with women, can make a huge difference in their careers.

So, how can women leaders begin to inspire other women? “Simply stated: lead by example,” Eickhoff says. “Be a mentor and advocate for other women leaders first.”

Lytle herself led by example, with one of her early steps being to ensure she did not “sneak out” of work when she had personal matters to attend to. “I would leave loudly,” Lytle says. “I would actively tell people why I was leaving so that they understood that I have other priorities in my life.” This created a permission structure for her team to prioritize what was necessary for them in order to lead a healthy
and successful life. “It’s not just about having a family or going to medical appointments; it can also be about hobbies,” Lytle says. “Maybe the waves are amazing and you need to go surfing. It can seem silly, but it opens the door to create more trusting relationships because you’re learning personal information about each other in a way that bonds people.”

Hoefsmit personally mentors several high-potential women throughout the industry, all of whom she hopes to inspire. “Women in leadership positions have a unique opportunity to inspire and guide others,” Hoefsmit says. “Sharing personal and authentic experiences and lessons learned can provide valuable insights and encouragement.”

Monitor asked Lytle, Hoefsmit and Eickhoff what advice they would give to women who are entering the equipment finance space, who are afraid to speak up or advocate for themselves at work or who hope to be in a leadership position one day. Stay tuned for the digital version of the magazine for an exclusive advice segment. •

Brianna Wilson is managing editor of Monitor.