Peapack-Gladstone Financial Corporation Announces Expansion Into New York City

Rhea-AI Summary

Peapack-Gladstone Financial Corporation, Peapack-Gladstone Bank, and Peapack Private have announced expansion plans with the filing of an application to open a location in New York City. The company believes their private banking services will be well received in the market and has recruited a team of professionals to lead the efforts. Jeanne Scungio, an experienced financial services leader, has joined as the President for Peapack Private's New York location.

BEDMINSTER, NJ, July 13, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – New Jersey holding company, Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC), Peapack-Gladstone Bank and Peapack Private, announce expansion plans with the official filing of an application to open a location in New York City.  Peapack Private is actively recruiting from the Tri-State area and beginning to build a presence in Manhattan. 

“With the recent changes to the New York City banking landscape, we believe our brand of private banking will be well received by the market,” said Doug Kennedy, President and Chief Executive Officer.  He continued, “We have the right client-centric culture to take advantage of the current opportunity in the marketplace.  Over the past several weeks we have recruited a team of highly skilled, like-minded professionals to lead our efforts.” 

Jeanne Scungio, an experienced financial services leader, has joined the team to lead the expansion as the President for Peapack Private’s New York location.  Jeanne has extensive experience as a leader of high-performing teams who advocate for individuals and businesses with complex needs.  She joins Peapack Private from First Republic Bank where she was a Team Leader and Senior Managing Director for the bank’s New York City presence since 2004.  Jeanne’s experience includes similar senior level private banking roles at U.S. Trust Company, Citibank, N.A. and Chase Manhattan Bank, N.A.  Jeanne’s focus on providing customized client solutions that include credit, investment, specialized asset management and depository services; along with her leadership skills and focus on providing an exceptional client experience, aligns with Peapack Private’s business model and its commitment to providing exceptional, single point of contact client service that goes beyond market norms.

“I am happy to join an organization that is committed to providing an elevated experience for its clients,” Jeanne commented.  “As a well-known New Jersey-based boutique financial institution, I expect the expansion for Peapack Private into NY will be well received.  The team of private banking professionals we are assembling to compete in this market will be formidable and will make an impact.”

Jeanne is a graduate of The Wharton School, University of Pennsylvania, Executive Development Program and holds a Bachelor of Science Degree in Business Administration from Providence College, Providence, Rhode Island.  She is a volunteer at Memorial Sloan Kettering Hospital and a former volunteer at The Ronald McDonald House, both in New York.

ABOUT THE CORPORATION

Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $6.5 billion and assets under management and/or administration of $10.4 billion as of March 31, 2023.  Founded in 1921, Peapack-Gladstone Bank is a commercial bank that offers a client-centric approach to banking, providing high-quality products along with customized and innovative wealth management, investment banking, commercial and retail solutions.  Peapack Private offers comprehensive financial, tax, fiduciary and investment advice and solutions, to individuals, families, privately held businesses, family offices and not-for-profit organizations, which help them to establish, maintain and expand their legacy.  Together, Peapack-Gladstone Bank and Peapack Private offer an unparalleled commitment to client service.  Visit www.pgbank.com and www.peapackprivate.com for more information.

Contact:  Denise M. Pace-Sanders, Senior Vice President, Managing Principal, Brand and Marketing Director, dpace@pgbank.com, 908.470.3322, Peapack-Gladstone Bank, 500 Hills Drive, Suite 300, Bedminster, NJ 07921

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FAQ

What is the expansion plan announced by Peapack-Gladstone Financial Corporation?

Peapack-Gladstone Financial Corporation has filed an application to open a location in New York City.

Who will be leading the expansion efforts in New York?

Jeanne Scungio, an experienced financial services leader, has joined as the President for Peapack Private's New York location.

What type of banking services does Peapack Private offer?

Peapack Private provides customized client solutions that include credit, investment, specialized asset management, and depository services.

What is Jeanne Scungio's background in the financial industry?

Jeanne Scungio has held senior level private banking roles at First Republic Bank, U.S. Trust Company, Citibank, N.A., and Chase Manhattan Bank, N.A.

What are Jeanne Scungio's qualifications?

Jeanne Scungio is a graduate of The Wharton School, University of Pennsylvania, Executive Development Program and holds a Bachelor of Science Degree in Business Administration from Providence College.