ELFA’s New President & CEO Leigh Lytle embraces the power and promise of equipment finance.
ELFA OFFICIALLY HAS A NEW LEADER. Leigh Lytle recently sat down with Equipment Leasing & Finance Magazine to discuss her new role as the association’s fifth President and CEO.
In speaking with Lytle, it’s evident that she’s excited about this new opportunity.
And it’s a role that she’s well-prepared for.
Before coming to ELFA, Lytle was a financial services executive who served in a variety of leadership roles spanning operations, policy and strategy. She spent more than 15 years in the Federal Reserve system, working in executive roles that included engagements in monetary and regulatory policy as well as operations and data analytics oversight. Then, as the Head of North American Policy at Plaid, she led education efforts with regulators and financial institutions while advocating for consumers’ rights within the digital financial ecosystem. She also served as the Chair of the Board of Directors of the industry trade group that represents innovative companies shaping the future of finance: the Financial Technology Association.
Lytle with ELFA Board Chair Rob Boyer and some members of the team at ELFA headquarters.
Lytle’s experience is clearly extensive, and it’s exactly what the Board of Directors was looking for when it embarked on a national search for the association’s next President and CEO. “We were looking for someone who could guide us into the future with a unique perspective,” explained former ELFA Board Chair Bob Neagle, who chaired the search committee. “Leigh is a dynamic leader whose experience, passion and vision make her singularly qualified to do just that. And her experience in banking, operations, advocacy and education will add momentum to our efforts in those areas too.”
Lytle is still settling into the role after just a month on the job. But she already feels like a member of the ELFA family. She also has a lot of ideas for where she wants to take the organization. From the ways ELFA spotlights the industry to how its members utilize technology—from deepening the association’s advocacy presence to providing even more events and member-engagement opportunities—she sees many ways to build on the accomplishments of former ELFA President and CEO Ralph Petta and the team. But building on is the key phrase, Lytle says, because of her respect for what he accomplished during his own tenure.
“There’s a reason Ralph is so respected in our industry: He led a high-functioning association that hyper-focused on the needs of its members,” Lytle explained. “The substantial legacy Ralph leaves behind is also a gift to me. Taking the helm of an organization that’s already firing on all cylinders is what makes it possible to focus now on taking things to the next level. And that’s what I plan to do: to respect and build upon what came before as we look to the exciting possibilities before us.”
Petta, for his part, is confident that ELFA is in good hands under its new leader.
“Leigh is the perfect choice for this role,” he said. “Her background speaks for itself, and her passion for serving our members and for strengthening the future of our industry became clear the moment I met her. She also understands the importance of bringing more new voices into, and getting them excited about, the industry. And while I know Leigh does not want to be defined by this, it’s worth remembering that she is the first woman to lead our association. That’s a milestone worth celebrating and it brings a new perspective that can only benefit ELFA moving forward.”
Lytle and Boyer discuss federal advocacy with team member Andy Fishburn.
Lytle is grateful not only for Petta’s confidence, but also for his counsel and friendship during her recruitment and initial weeks on the job. The same goes for the Board and the rest of the ELFA team, all of whom she cited as indispensable in her work to tackle the “steep learning curve” before her. Given her curious and competitive nature, though, this is clearly a challenge Lytle welcomes—and one she’s already diving into. As she discussed in a recent video conversation with 2024 Board Chair Rob Boyer, her first major order of business as President and CEO is to embark upon what she calls a “listening tour” of ELFA’s members, and that’s no accident either. Lytle wants to make it clear that ELFA’s members and their needs will be at the center of her thinking as she helps set the course for the association’s future.
“I want to meet as many members as possible to understand their thoughts, their concerns and their priorities. What keeps you up at night? What makes your membership most valuable? What are the opportunities for the industry in the years ahead? These are the kinds of questions I intend to ask, because the answers are so critical for helping me understand how I can best serve our membership—as well as helping shape the longer-term vision for our industry.”
“The ELFA team is already working on getting me out to different events and site visits,” she continued, “and I can’t wait to meet everyone.”
Board Chair Rob Boyer shares her excitement. “I look forward to helping orient Leigh to the industry and putting her on a path to success as our leader,” he says. (Read more about Rob’s plans for the year in "Rob Boyer Shoots for the Future.")
Lytle with trustees and team members of the Equipment Leasing & Finance Foundation.
After all, for Lytle, it’s the diversity and vastness of ELFA’s membership—along with their energy, passion and collective economic impact—that really interested her in the role to begin with. It’s still what excites her most about the sector. And she sees a lot of opportunities at a period that she calls “a really interesting time of change” for the industry. “There’s just this appetite for new ways of thinking about how technology can play new roles, and how we can all work smarter, better and faster,” Lytle explained. “I’m eager to pair learnings from my own experience with guidance from the member conversations I’m about to have, as we all work together to move the organization into its next phase.”
ELFA’s new President and CEO is ready to bring the power and promise of the industry to others across the country—as well as to the fore of even more policy conversations.
“I couldn’t be more grateful for this opportunity,” Lytle concluded, “and I’m really optimistic about what the coming years can bring.”
NOTE: Lytle’s appointment as President and CEO was announced on Oct. 23, and she officially took up the role on Dec. 4.
In her Q1 video message to members, Lytle talks to Boyer about what she's looking forward to in her new role and her plans for the year ahead.
