LEAF Commercial Capital, Inc., a U.S. equipment leasing and finance company and subsidiary of M&T Bank, announced that Crit DeMent, who led the company as CEO from its creation until earlier this year, will step away from his current position as LEAF Chairman to enjoy a well-earned retirement in 2024.

A veteran of the equipment finance industry for more than 40 years, DeMent and former Chief Operating Officer Miles Herman, who was recently named CEO, developed LEAF from the beginnings of an idea between two friends into one of the industry’s leading independent equipment finance brands. Now part of one of the nation’s largest financial institutions, LEAF’s continuing success, outstanding reputation in the marketplace, and decades of service to equipment sellers, manufacturers, distributors, and business end users stand as a remarkable legacy of a distinguished career.

“It has been my incredible good fortune to lead such an amazing group of people as we’ve worked shoulder-to-shoulder to make LEAF what it is today and position it for all it will be in the years to come,” said DeMent. “And while the company will be in the good hands of Miles and the rest of LEAF’s team, I can’t imagine a world where I don’t check in frequently to share in the excitement of continuing to grow what we’ve built together.”

“To say Crit will be missed is an understatement,” said Herman, “though I look forward to keeping him up to date on all the great things going on at the company as he shifts his focus to retirement, no doubt with the same drive, intelligence, and enthusiasm he brought with him every day as CEO at LEAF and throughout the four decades of his career in the industry. I am grateful to have called him a business partner and friend all these years, and I wish him all the best.”

LEAF Commercial Capital is headquartered in Philadelphia, PA, with offices in Moberly, MO, Baltimore, MD, Dallas, TX, and Orange, CA.