Peapack Private Bank Expands Equipment Finance Division with Key Hires from Flagstar Financial
Peapack Private Bank & Trust has strengthened its equipment finance subsidiary by hiring a team of seasoned specialists from Flagstar Financial, positioning the bank to compete more aggressively with larger institutions in the asset financing sector.
Peapack-Gladstone Financial Corporation and Peapack Private Bank & Trust have announced strategic expansion of their equipment finance and leasing subsidiary, Peapack Capital, through the addition of a new team of experienced specialists. The move signals the bank's commitment to aggressive growth in the equipment financing market, particularly through intermediary channels.
The subsidiary is now led by Anthony Perettine, who joins as Senior Managing Director and President after serving as Executive Vice President and Division Head at Flagstar Financial, where he grew the business to over $2 billion in assets. Perettine will be responsible for building and diversifying the portfolio of equipment lease and loan receivables through both intermediary and direct business lines while managing the legacy capital markets business.
Bruce J. Winter joins as Senior Managing Director and Chief Operating Officer, bringing extensive experience from founding FSG Capital in 1991 and serving in leadership roles including Executive Board Member of the Equipment Leasing and Finance Association. Winter will oversee strategic leadership, client onboarding, risk management, regulatory compliance, and performance metrics.
The expansion includes several additional hires from Flagstar Financial: Leslie Roberts as Senior Managing Director and Senior Client Relationship Manager, Lori Gresko as Senior Vice President and Senior Underwriter, Kevin Kitson as Vice President and Senior Underwriter, and Nicholas L. Cremonese, Jr. as Managing Director and Relationship Manager. These appointments strengthen the bank's capabilities in intermediary relationships, underwriting, risk management, and business development.
The new team will work alongside the legacy business leadership, including Lisa Chalkan as Executive Vice President and Chief Credit Officer, Lori Moylan as Senior Vice President and Chief Credit Administration Officer, Richard Johnston as Senior Managing Director and Director of Capital Markets, and Lisa Fitzgerald as Senior Vice President and Director of Commercial Lending Operations. This combined expertise positions Peapack Capital to better compete with larger institutions in the equipment finance space.
Winter emphasized the strategic nature of the expansion, stating that developing an intermediary equipment finance and leasing program at Peapack Capital will be additive to the current platform. The bank believes this combination will enhance its competitive positioning in the market. Peapack Capital, founded in 2017, specializes in mid- to large-scale transactions that help businesses grow through asset finance and equipment leasing solutions. More information about the bank's services can be found at https://www.peapackprivate.com.