Peapack Private Strengthens New York Team with Senior Managing Director Hire

Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has announced a strategic hire for its Peapack Private division, appointing Vanessa Tortorice as Senior Managing Director at its New York City location. This move underscores the bank's ambition to strengthen its presence and grow its commercial and industrial business in one of the world's most significant financial markets.

Tortorice brings 12 years of financial services experience to her new role, where she will focus on providing tailored banking solutions to help clients achieve their long-term financial goals. Her appointment is part of Peapack Private's broader strategy to enhance its team of highly-skilled commercial bankers in the competitive New York market.

Prior to joining Peapack Private, Tortorice held key positions at M&T Bank and Capital One, where she consistently demonstrated her ability to manage high-net-worth client portfolios, drive revenue growth, and exceed targeted loan and deposit growth objectives. Her track record includes ranking within the top 10% nationally at Capital One, highlighting her exceptional performance in client acquisition and relationship management.

This strategic hire comes at a time when Peapack-Gladstone Financial Corporation reports total assets of $6.51 billion and assets under management and/or administration of $11.5 billion as of June 30, 2024. The addition of Tortorice to the New York team is expected to contribute significantly to the bank's growth strategy in the region.

For the banking industry, this appointment signals Peapack Private's commitment to expanding its footprint in the lucrative New York market. It also highlights the ongoing competition among financial institutions to attract top talent capable of serving high-net-worth clients and driving business growth in key metropolitan areas.

As banks continue to adapt to changing market conditions and client needs, strategic hires like Tortorice play a crucial role in positioning financial institutions for success. Her expertise in fostering client relationships and driving cross-functional collaboration aligns with Peapack Private's client-centric approach to banking, which emphasizes customized solutions for individuals, families, and businesses.

The appointment of Tortorice as Senior Managing Director not only strengthens Peapack Private's team but also reinforces the bank's commitment to providing comprehensive financial services in the New York market. As the financial landscape continues to evolve, such strategic moves by regional banks like Peapack-Gladstone Financial Corporation will be closely watched for their impact on market dynamics and client service offerings in the competitive banking sector.