Peapack Private Bank & Trust has taken a significant step towards expanding its commercial banking services into Long Island by appointing Sonia Lugo as a Senior Managing Director. With over two decades of experience in the financial services sector, Lugo is set to lead a team of relationship managers in driving the bank's strategic growth objectives in the region.
Lugo's impressive career includes leadership roles at Flagstar Bank, HSBC Bank USA, and Banco Popular, where she not only developed new business but also managed substantial commercial portfolios. Her ability to build and manage a portfolio exceeding $130 million at Flagstar Bank highlights her expertise and the value she brings to Peapack Private Bank & Trust.
This strategic hire reflects Peapack-Gladstone Financial Corporation's commitment to expanding its market presence through the acquisition of top talent. With assets totaling $7.1 billion and under management of $11.8 billion as of March 31, 2025, the bank is poised for significant growth in the competitive financial services landscape.
Lugo's deep understanding of commercial banking and her proven track record in portfolio management and business development make her an invaluable asset for Peapack Private Bank's expansion into Long Island. Her diverse background and insights into regional banking dynamics are expected to play a pivotal role in the bank's success in this new market.
The appointment of Sonia Lugo underscores the importance of strategic talent acquisition in the banking industry's growth and innovation efforts. As Peapack Private Bank & Trust ventures into Long Island, Lugo's leadership and expertise are set to drive the bank's commercial banking services to new heights, offering enhanced financial solutions to businesses in the region.
