Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank have announced the appointment of Michael Anthony Guarino, Esq. as Senior Vice President and Attorney, a strategic hire aimed at strengthening the bank's legal and compliance capabilities during its expansion into the New York market. This move is important because it directly addresses the increasing regulatory complexities in the banking sector, particularly as the bank seeks to solidify its presence in a highly competitive financial hub like New York City. With over 25 years of experience in financial services, Mr. Guarino will be based at the bank's headquarters in Bedminster, New Jersey, and its new location at 300 Park Avenue, New York City, where his primary responsibilities will include handling legal issues from the New York office and supporting executive teams on legal and policy matters.
The appointment comes at a crucial time for Peapack-Gladstone Bank, as it aims to enhance its position in the New York financial market. Mr. Guarino's extensive background in regulatory risk assessment, compliance management, fraud and AML investigations, and vendor management will be invaluable in navigating the intricate legal landscape of the banking industry. His prior roles at institutions such as Metropolitan Commercial Bank, Israel Discount Bank of New York, First Fidelity, First Union Bank, and Chase Manhattan Bank have equipped him with diverse experience in legal and compliance functions, making him well-suited to tackle the challenges of a growing bank. This expertise is critical for ensuring that the bank adheres to evolving regulations, which can impact its operational efficiency and risk management strategies.
Mr. Guarino's educational background, including a Bachelor of Arts from Rutgers University and a Juris Doctor from Seton Hall Law School with a concentration in Banking, UCC Business, Trusts, and International Law, further underscores his qualifications. His multilingual skills in Spanish and Italian enhance his ability to serve a diverse client base, which is particularly relevant in the multicultural environment of New York City. As a member of both the New Jersey and New York Bars, he brings a comprehensive understanding of the legal frameworks in both states, and his certifications as a Certified Compliance Manager (ICB) and Certified Regulatory Compliance Manager (CRCM) highlight his expertise in regulatory compliance. This is essential for banks operating in today's highly regulated environment, where non-compliance can lead to significant financial penalties and reputational damage.
The addition of Mr. Guarino aligns with Peapack-Gladstone Bank's client-centric approach, as the institution, with $6.5 billion in total assets and $11.5 billion in assets under management and/or administration as of June 30, 2024, leverages his expertise to enhance its offerings. This includes high-quality products and innovative solutions in wealth management, investment banking, and commercial and retail services. The appointment is especially significant for Peapack Private, a division that provides comprehensive financial, tax, fiduciary, and investment advice to individuals, families, privately held businesses, family offices, and not-for-profit organizations. Mr. Guarino's legal acumen will support the division's mission to help clients establish, maintain, and expand their legacy, ensuring that legal and compliance issues do not hinder their growth and stability.
Overall, this strategic hire reinforces Peapack-Gladstone Bank's commitment to navigating complex regulatory environments while providing exceptional service to its diverse clientele. As the bank continues to grow and adapt to the evolving financial landscape, strengthening its legal and compliance infrastructure through experienced professionals like Mr. Guarino is vital for sustaining long-term success and mitigating risks in a dynamic market. For more information on Peapack-Gladstone Bank's services, visit https://www.peapackgladstone.com.
