United Community Banks, Inc. and its wholly owned subsidiary, Navitas Credit Corp. announced the promotion of Mike Bruman to CEO of Navitas Credit. Bruman succeeds Navitas founder and CEO Gary Shivers.
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. He was responsible for managing the senior leadership team, which is comprised of all the key functional areas of the organization. Over the past year, under his leadership, Navitas has continued to experience record growth. The company is currently managing over $1.3 billion in assets and is nearing $1 billion in originations, making Navitas one of the top-recognized equipment financing companies in the country. In February 2018, Navitas was acquired by United Community Banks, Inc., one of the largest full-service financial institutions in the Southeast.
Prior to joining Navitas, Bruman’s 30-year-plus career in equipment finance began as a Manager of Credit and Funding Operations with Sequa Credit Corp., a small-ticket equipment leasing company. He then joined AT&T Capital as a Credit Manager for the Northeast Region. In 1995, he moved to Copelco Capital to support credit in their 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 their newly formed division. During his tenure at CIT, he was instrumental in helping grow the business into a multi-billion-dollar platform.
“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,” said Bruman. “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,” said Lynn Harton, CEO of United Community Bank.