Peapack-Gladstone Financial Corporation is advancing its expansion strategy with targeted moves into the Long Island market, securing temporary commercial space at https://www.peapackprivate.com and receiving board approval for permanent retail space. President and CEO Doug Kennedy emphasized the strategic importance of this expansion, describing Long Island as a natural progression for the bank's growth plans. The move represents a deliberate effort to extend their commercial business and provide direct access to private banking services for regional clients, leveraging the institution's established presence in New York City to introduce its unique private banking model to Long Island clients.
The expansion is supported by key personnel additions, including Joseph Fingerman as President of the Commercial Real Estate division, whose team will focus on covering the New York metro area, including Long Island. With total assets of $7.1 billion and assets under management of $11.8 billion as of March 31, 2025, Peapack-Gladstone Financial Corporation brings substantial financial strength to its market entry. The bank's client-centric approach encompasses comprehensive wealth management, investment banking, commercial, and personal banking solutions, reflecting its commitment to providing high-quality, customized financial services to individuals, businesses, and organizations.
This strategic expansion enables Peapack Private Bank & Trust to leverage its successful business model and attract new clients seeking personalized banking experiences. The bank's competitive positioning in the market is further detailed at https://www.peapackprivate.com/about, highlighting its focus on direct access to private banking services. By establishing a presence in Long Island, the institution aims to capitalize on regional opportunities while maintaining its emphasis on tailored financial solutions, supported by its financial resources and specialized team.
