Peapack Private Bank & Trust has appointed Sonia Lugo as a Senior Managing Director to lead its commercial banking expansion into Long Island, signaling the institution's strategic commitment to regional growth and market diversification.
Lugo brings extensive financial services expertise spanning over two decades, most recently serving as a vice president and group director at Flagstar Bank, where she successfully managed a commercial portfolio exceeding $130 million. Her previous roles at HSBC Bank USA and Banco Popular demonstrate a consistent track record of business development and portfolio management in the New York metropolitan area.
As the newly appointed Managing Group Director, Lugo will be responsible for leading a team of relationship managers and driving the bank's commercial banking initiatives in Long Island. Her deep understanding of commercial banking dynamics and proven ability to build and manage substantial portfolios positions her as a key strategic asset for Peapack Private Bank & Trust.
With total assets of $7.1 billion and assets under management of $11.8 billion as of March 31, 2025, Peapack-Gladstone Financial Corporation continues to demonstrate its commitment to strategic growth and client-centric banking solutions. Lugo's appointment represents a significant investment in expanding the bank's footprint and capabilities in a competitive financial services landscape.
The addition of Lugo to the team underscores the bank's ongoing strategy of recruiting top-tier talent to support its mission of providing innovative and customized banking solutions. Her extensive experience in commercial banking, coupled with her track record of portfolio management, aligns closely with Peapack Private Bank & Trust's goals of delivering high-quality financial services to businesses and individuals.
