Peapack Private Bank & Trust has appointed Sonia Lugo as a Senior Managing Director to lead its commercial banking division's expansion into Long Island. Lugo brings extensive financial services experience from prominent institutions including Flagstar Bank, HSBC Bank USA, and Banco Popular.
With a proven track record of building and managing substantial commercial portfolios, Lugo most recently served as a vice president and group director at Flagstar Bank, where she managed a commercial portfolio exceeding $130 million. At HSBC Bank USA, she was responsible for new business development and oversaw a commercial portfolio of more than $58 million.
Lugo's appointment represents a strategic move for Peapack Private Bank & Trust, which seeks to strengthen its presence in the Long Island market. Her expertise in relationship management and commercial banking will be crucial in supporting the bank's growth objectives and developing new business opportunities in the region.
The hiring signals the bank's commitment to expanding its commercial banking footprint and leveraging experienced financial professionals to drive strategic growth. Lugo will be responsible for leading a team of relationship managers and developing the bank's commercial banking strategy in Long Island.
