Peapack Private Bank & Trust Elevates Linda Osterman to Senior Managing Director

Peapack Private Bank & Trust has promoted Linda Osterman to Senior Managing Director, a move that highlights the bank's strategic emphasis on leveraging deep industry expertise to strengthen its private wealth management services. This promotion recognizes Osterman's over four decades of banking experience, particularly in residential lending, which is central to developing private wealth relationships. Her role, based at the bank's Bedminster headquarters, will continue to focus on this critical area, aligning with the institution's client-centric approach to providing customized financial solutions for individuals, families, businesses, and nonprofit organizations.

The significance of this appointment lies in Osterman's proven track record and institutional knowledge. She joined Peapack Private in 2013, bringing experience from previous roles at notable institutions including Mellon Bank, NA, and Summit Bank, where she specialized in residential lending. Her educational background, including a Bachelor of Arts degree from Lehigh University, further complements her professional credentials. This promotion signals Peapack Private's commitment to retaining and elevating leaders who can navigate complex financial landscapes and foster long-term client relationships, which are essential in the competitive private banking sector.

Osterman's promotion also reflects the broader importance of community engagement in building trust and networks within wealth management. Beyond her professional duties, she has demonstrated significant involvement in local initiatives, such as serving as President of The Tewksbury Education Foundation for over 11 years and remaining active with educational institutions like The Tewksbury Education Foundation and Gill St. Bernard's School. Her current support for the Greater Somerset County YMCA underscores a commitment to community development that can enhance the bank's reputation and client connections. This aligns with Peapack-Gladstone Financial Corporation's overall strategy, as the parent company, with total assets of $7.0 billion and assets under management of $11.9 billion as of December 31, 2024, continues to expand its comprehensive banking and wealth management offerings.

The implications of this announcement extend to the bank's operational stability and growth prospects. By promoting an experienced professional like Osterman, Peapack Private reinforces its focus on residential lending as a key component of wealth management, which can drive asset growth and client retention. In an industry where personalized service and expertise are paramount, such internal advancements help maintain continuity and expertise, potentially attracting high-net-worth clients seeking reliable, long-term partnerships. For more information on Peapack Private Bank & Trust's services, visit https://www.peapackprivate.com. This move underscores how strategic personnel decisions can bolster a financial institution's market position and service quality in a dynamic economic environment.