Peapack Private Bank & Trust Expands Long Island Presence with Senior Managing Director Sonia Lugo
Peapack Private Bank & Trust strengthens its commercial banking division by hiring Sonia Lugo, an experienced financial services professional, to lead strategic expansion into Long Island and build a robust team of relationship managers.
Peapack Private Bank & Trust has appointed Sonia Lugo as Senior Managing Director to lead its commercial banking expansion into Long Island. Lugo brings over two decades of financial services experience, most recently serving as a vice president at Flagstar Bank, where she managed a commercial portfolio exceeding $130 million.
Her extensive background includes leadership roles at prominent financial institutions such as HSBC Bank USA and Banco Popular. At HSBC, Lugo was a vice president and senior relationship manager responsible for new business development and managing a commercial portfolio of more than $58 million. At Banco Popular, she managed a $42 million branch location in Corona, New York.
Lugo's appointment signals Peapack Private Bank & Trust's strategic commitment to growing its commercial banking presence in Long Island. As a Managing Group Director, she will lead a team of relationship managers and leverage her extensive network and proven track record of portfolio management and business development.
The bank, with total assets of $7.1 billion and assets under management of $11.8 billion as of March 31, 2025, continues to demonstrate its client-centric approach by recruiting experienced financial professionals like Lugo to support its growth strategy.