ELFA’s new Board Chair has always planned ahead. Now he’s bringing ELFA with him.
Rob Boyer might not make this comparison himself, but it’s easy to see his career path as a rocket trajectory, arcing toward each destination he sets in his sights. Now that he has reached ELFA’s highest volunteer position as Board Chair for 2024, Boyer is excited to launch new ideas and initiatives within the association he has embraced for nearly a quarter century.
But first, some details about him. Boyer began working in the equipment finance industry in 1995, first in sales and later in syndication. “What I found most interesting was the amount of diversity I was exposed to and could participate in: the many industries we serve, the different types of equipment we finance and the people who do this,” he says. “I’ve always enjoyed learning and growing, and as time went on and I began leading teams and then developing companies, I also found it rewarding to watch those around me grow and to watch the company become more successful.”
Currently the President of First Commonwealth Equipment Finance, a division of Indiana, Pennsylvania-based First Commonwealth Bank, Boyer was most recently Senior Director and Senior Vice President at TCF Capital Solutions, a division of TCF Bank. Prior to that, he was President of BB&T Commercial Equipment Capital Corp., a subsidiary of Branch Banking and Trust Company (BB&T), now Truist.
“I think I attended my first ELFA event in 2000, when I went to the Funding Conference and then to Capitol Connections,” he recalls. “I was hooked,” he emphasizes. “The opportunity to talk to others in the industry was so helpful, because I could start to see what the larger equipment financing world looked like outside the village of my company. I was still relatively fresh in my career, and it was eye-opening to learn about all the business models, equipment types and vertical markets. And as I listened to others talk about their experiences in the business, I was able to take some of what they’d learned back to my company to help improve it, and I fed off that. I immediately wanted to get more engaged and have more exposure in the association.”
Boyer at Capitol Connections in Washington, D.C. In 2017, he received the David H. Fenig Distinguished Service in Advocacy Award.
A Strategic Path
Boyer first became a member of the Small Ticket Business Council Steering Committee. There he found an opportunity to “dig a little deeper with people” and learn more about the committee as well as association leadership. He was soon selected to chair the committee and did so for two years. Afterward, he was invited to serve on the Membership Committee and before long became its chair. In 2012, he was elected to ELFA’s Board of Directors, where he served for three years before becoming Board Treasurer. Also active and highly supportive of the association’s advocacy programs, Boyer was awarded the David H. Fenig Distinguished Service in Advocacy Award in 2017. “I think members of ELFA’s advocacy staff punch way above their weight class and do a terrific job,” he says. “It’s critical that we have this function on both the federal and state levels, and critical that we support it, because it seems every year there are more legislative issues that impact us.”
Five years into his service as Treasurer, Boyer was nominated to be a Vice Chair. Through it all, he has cultivated a large network of industry professionals, many of whom have become good friends. “I’ve been volunteering with ELFA for so long I almost feel like it’s a company I work for,” he says with a chuckle. “I’ve seen many projects and new aspects of the association that originated with the Board, and I’ve also seen some things that didn’t work. It’s been a great experience.” Boyer believes his year as Chair will be particularly interesting as the association welcomes new ELFA President and CEO Leigh Lytle. He embraces the challenge. “I look forward to helping orient Leigh to the industry and putting her on a path to success as our leader,” he says.
Thinking about his goals as Board Chair, Boyer says one item is most important: updating and upgrading ELFA’s technology platform. “It’s obvious to me that our platform is antiquated and inefficient, and I think we need to make it a priority to create a better tech environment,” he explains. “I know this is not the kind of thing that gets your name etched on the wall, but we have a wonderful opportunity to do this now with our new CEO, who comes from a fintech background. Let’s help Leigh learn about our industry and our member companies and also tap her expertise to improve our technology.”
Boyer says the average ELFA member probably won’t see disruptions to the association’s online services or features, but may notice greater efficiencies and capabilities. Upgrading the system is important, he adds, to continue delivering ELFA’s value proposition. “I know the value of ELFA membership can vary, depending on what you’re looking for,” he says. “I use the benchmarking data to compare the performance of my company to others in the industry, and I’ve used the reference material ELFA provides to support assertions I’ve made in my presentations to bank leaders. This is highly credible information that any member can use to educate others and benchmark the performance of their company.”
Boyer at the 2023 ELFA Annual Convention.
Yet, Boyer sees ELFA events as the greatest value of membership. “Opportunities to network are a priority for our members, but the sessions at our events are also great occasions to learn,” he observes. “Whether it’s credit, accounting, developments in technology or performance trends, ELFA’s convention, conferences and roundtables allow for broader and deeper perspective on industry issues.” He pauses and then adds, “It’s also just good to mind-share with others in your position, to hear what they’re doing and get outside yourself. I’ve found there’s no better place to do this than inside ELFA.”
