Peapack Private Bank & Trust Strengthens Commercial Real Estate Division with Senior Hire

Peapack Private Bank & Trust has expanded its commercial real estate division by bringing on Zachary Bermudez as a Senior Managing Director. Bermudez will be responsible for overseeing day-to-day management of credit and reporting functions, as well as managing client interactions. With an extensive background spanning more than 20 years in commercial real estate finance, Bermudez brings significant expertise to his new role. His professional journey began at North Fork Bank in 2003, where he launched his career in the industry. In 2007, he joined Signature Bank, where he progressively advanced through roles in underwriting, origination, and relationship management.

At Signature Bank, Bermudez reached the position of Group Director and Senior Vice President, overseeing all commercial real estate operations and risk management. During his tenure, he played a critical role in maintaining a substantial $33+ billion commercial real estate loan portfolio. Most recently, before joining Peapack Private Bank & Trust, he served as Managing Director at A&E Real Estate Finance, a boutique private credit platform. Bermudez brings strong academic credentials to his new role, having graduated from SUNY Empire State College and earning a Master of Business Administration in Banking and Finance from Dowling College. He remains actively engaged in the real estate education sector as a board member for The Real Estate Institute at Stony Brook University.

His addition to the Peapack Private Bank & Trust team represents a strategic enhancement of the bank's commercial real estate capabilities. With total assets of $7.0 billion and assets under management of $11.9 billion as of December 31, 2024, the bank continues to demonstrate its commitment to providing high-quality, client-centric banking solutions. The hiring signals the bank's focus on strengthening its position in the commercial real estate market by leveraging Bermudez's experience managing large portfolios and complex client relationships. This move is particularly significant given the current economic environment where specialized expertise in credit management and risk assessment is crucial for financial institutions navigating commercial real estate markets.

The appointment matters because it reflects Peapack Private Bank & Trust's strategic investment in talent to enhance its service offerings and competitive positioning. Bermudez's background in managing substantial loan portfolios at institutions like Signature Bank provides the bank with proven expertise in credit oversight and risk management. His educational involvement with The Real Estate Institute at Stony Brook University further connects the bank to industry education and emerging talent. For clients, this means access to more sophisticated commercial real estate banking services backed by extensive experience. For the broader financial sector, it demonstrates how regional banks are strategically building specialized teams to compete in specific market segments, particularly as commercial real estate continues to evolve in response to economic shifts and changing property demands.