Peapack Private Bank Strengthens New York Commercial Banking Team with Senior Hire

Peapack-Gladstone Financial Corporation and Peapack Private Bank & Trust have announced the addition of Alex Lurye to their New York-based commercial banking team as Senior Managing Director. This strategic hire brings substantial regional banking experience to the institution as it continues to expand its commercial lending operations in the competitive New York market. Lurye brings more than 23 years of commercial lending experience across New York, Westchester, and Long Island to his new role. His extensive background includes significant portfolio management experience, having most recently served as Senior Credit Officer of NYC Lending at Valley National Bank. In that position, he oversaw multiple underwriting teams managing a substantial portfolio of $4 billion in commitments and $2.7 billion in outstandings.

The hiring represents Peapack Private's continued investment in building a strong commercial banking presence in New York. Lurye's previous leadership roles at Valley National Bank included serving as Division Head of NY Commercial Banking, where he directed group performance in budgeting, production, and portfolio management. He also served as Team Leader of NY Commercial Banking, leading relationship managers focused on driving growth in loans, deposits, and fee income. Earlier in his career, Lurye developed his credit and relationship banking skills through significant roles at Santander Bank and Wells Fargo, both based in New York. His educational background includes a Bachelor of Arts degree in Business Management and Finance, with a minor in Philosophy, from Brooklyn College in Brooklyn, NY.

Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $7.2 billion and assets under management and/or administration of $12.3 billion as of June 30, 2025. Founded in 1921, Peapack Private Bank & Trust operates as a commercial bank with a client-centric approach to banking, providing high-quality products along with customized and innovative wealth management, investment banking, commercial and personal banking solutions. Additional information about the bank's services can be found at https://www.peapackprivate.com.

The addition of Lurye to the New York commercial banking team signals Peapack Private's commitment to strengthening its regional expertise and expanding its commercial lending capabilities in one of the nation's most competitive banking markets. His extensive experience managing large commercial portfolios and leading banking teams positions him to contribute significantly to the bank's growth objectives in the New York metropolitan area. This move matters because it demonstrates how regional banks are strategically investing in experienced leadership to compete effectively against larger national institutions in key financial hubs. The implications include potential increased market share for Peapack Private in New York commercial lending, enhanced portfolio management capabilities through Lurye's $4 billion portfolio experience, and strengthened competitive positioning through specialized regional expertise. For clients, this could translate to more sophisticated commercial banking solutions and relationship management, while for the banking industry, it represents the ongoing importance of human capital investment in driving expansion strategies.