Miles Herman will assume the role of CEO of LEAF Commercial Capital. Former CEO Crit DeMent will continue to serve the company as chairman. Herman was formerly president and COO of the company, which DeMent and Herman founded in 2001. In 2017, the company became a People’s United Bank subsidiary, which was then acquired by M&T Bank in 2022.

“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,” Herman said. “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.”

“I’ve been incredibly fortunate to serve as LEAF’s CEO since the beginning alongside Miles as COO,” DeMent said. “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.