United Community Banks promoted Mike Bruman to CEO of its subsidiary, Navitas Credit. Bruman is succeeding Navitas founder and CEO Gary Shivers, who officially retired on Feb. 28.
Bruman joined Navitas in 2010 as chief credit officer, leading the company’s multiple credit divisions. In 2022, he was promoted to senior vice president and chief operating officer. In that role, he was responsible for managing the senior leadership team, which is comprised of all the key functional areas of the organization.
Prior to joining Navitas, Bruman’s more than 30-year career in equipment finance began as a manager of credit and funding operations with Sequa Credit, a small-ticket equipment leasing company. He then joined AT&T Capital as a credit manager for the Northeast. In 1995, he moved to Copelco Capital to support credit in its major accounts and new technology division. In 1999, he accepted a position with CIT’s vendor and finance group as credit officer to assist in the launch of a newly formed division.
“I am beyond excited to take on this new role. Gary Shivers was the reason I initially joined Navitas. His strategy for the company was in lockstep with what I believed a successful small-ticket leasing company should be. It is as basic as continuing to invest in your people, keep innovating and never forgetting to deliver the highest level of customer service. These are the catalysts that drive our success,” Bruman said. “Navitas has done an incredible job of delivering on these core beliefs, and to keep the company growing and managing ever-changing market conditions, I plan to stay true to this vision. I look forward to building on Gary’s legacy and leading this company to even higher levels of success.”
“Working with Mike over the last several years gives the bank and me the utmost confidence that he is the ideal choice to take the reins from Gary. Over the past year as COO, he clearly demonstrated that he understands how to manage risk and maximize growth. As a key contributor to the company’s culture, Mike is uniquely qualified to take on his new CEO role. I’m looking forward to seeing Mike lead Navitas in its next chapter of success,” Lynn Harton, CEO of United Community Banks, said.
Navitas currently manages more than $1.3 billion in assets and is nearing $1 billion in originations. The company was acquired by United Community Banks in February 2018.
