Peapack Private Bank & Trust has announced strategic growth within its equipment finance and leasing subsidiary, Peapack Capital, with the addition of a new team of seasoned specialists. The expansion signals the bank's commitment to enhancing its equipment financing capabilities and competing more aggressively in the mid- to large-scale transaction market. The subsidiary is now led by Anthony Perettine, Senior Managing Director and President, who joins from Flagstar Financial where he grew the business to over $2 billion in assets. Perettine will be responsible for building and diversifying the portfolio of equipment lease and loan receivables through both intermediary and direct business lines. His appointment represents a significant investment in the future growth of Peapack Capital, which was founded in 2017 and has experienced considerable expansion in the equipment finance space.
Joining Perettine is Bruce J. Winter, Senior Managing Director and Chief Operating Officer, who brings extensive experience from founding FSG Capital in 1991 and serving in leadership roles including Executive Board Member of the Equipment Leasing and Finance Association. Winter will oversee strategic leadership, client onboarding, risk management, and regulatory compliance. The team expansion also includes four additional specialists from Flagstar Financial: Leslie Roberts as Senior Client Relationship Manager, Lori Gresko as Senior Underwriter, Kevin Kitson as Senior Underwriter, and Nicholas L. Cremonese, Jr. as Relationship Manager. According to Winter, the goal is to develop an intermediary equipment finance and leasing program that will be additive to the current platform. This strategic move combines the new team's expertise with the legacy business, which will continue under the leadership of Lisa Chalkan, Lori Moylan, Richard Johnston, and Lisa Fitzgerald.
The combined forces aim to position Peapack Capital more competitively against larger institutions in the equipment finance industry. The expansion enables Peapack Capital to offer enhanced asset finance and equipment leasing solutions across a broad spectrum of industries and assets. The new team's expertise in complex deal negotiation, credit underwriting, risk management, and intermediary relationships will strengthen the bank's ability to serve businesses seeking mid- to large-scale financing solutions. This development comes as Peapack-Gladstone Financial Corporation reports total assets of $7.2 billion and assets under management and administration of $12.3 billion as of June 30, 2025. The implications of this announcement are significant for the regional banking landscape, as it demonstrates how established financial institutions are making targeted investments to capture market share in specialized lending sectors. By bringing in proven talent from competitors like Flagstar Financial, Peapack Capital is not just expanding its workforce but acquiring institutional knowledge and industry connections that typically take years to develop.
The strategic importance lies in the timing and scale of this expansion. With the parent company reporting substantial assets, this move represents a calculated deployment of resources into a high-growth segment. Equipment financing has become increasingly competitive as businesses across various sectors seek flexible capital solutions for technology upgrades, manufacturing equipment, transportation assets, and other essential infrastructure. The ability to handle mid- to large-scale transactions positions Peapack Capital to serve growing businesses that may outgrow smaller lenders but still prefer the personalized service of a regional bank over impersonal mega-institutions. This expansion also strengthens the bank's intermediary relationships, creating additional channels for business development beyond direct client acquisition. The regulatory compliance expertise brought by the new team members becomes increasingly valuable as financial regulations evolve, potentially giving Peapack Capital an advantage in navigating complex compliance requirements while maintaining efficient operations.
