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 20 years of experience in the financial services sector, Lugo is set to lead a team of relationship managers in achieving the bank's strategic growth objectives. Her previous roles at Flagstar Bank, HSBC Bank USA, and Banco Popular have equipped her with a deep understanding of commercial banking, portfolio management, and business development, making her an invaluable asset to Peapack Private Bank's expansion efforts.
Lugo's career highlights include her tenure at Flagstar Bank, where she served as a vice president and group director, managing a commercial portfolio that exceeded $130 million. Her ability to develop new business and manage substantial portfolios at HSBC Bank USA and Banco Popular further underscores her expertise in the field. These experiences have provided Lugo with unique insights into the regional banking dynamics, which will be crucial as Peapack Private Bank & Trust seeks to establish a stronger presence in Long Island.
The appointment reflects Peapack-Gladstone Financial Corporation's commitment to strategic growth and talent acquisition. As of March 31, 2025, the corporation reported total assets of $7.1 billion and assets under management of $11.8 billion, highlighting its robust financial position and capacity for expansion. Lugo's role is pivotal in this context, as her leadership is expected to drive innovation and growth in the competitive financial services landscape of Long Island.
A graduate of the University of Puerto Rico in Arecibo, Lugo's diverse background and extensive experience in commercial banking align with Peapack Private Bank & Trust's strategy to leverage diverse talent for business expansion. Her appointment not only strengthens the bank's leadership team but also signals its ambition to capture new opportunities in Long Island's commercial banking sector. For more information on Peapack Private Bank & Trust's services and expansion plans, visit https://www.peapackprivate.com.
