Peapack Private Bank & Trust Strengthens Leadership with Key Hire in New York

Peapack Private Bank & Trust has appointed Michael Madonia as a Senior Managing Director in its Commercial and Industrial Lending Division, a strategic hire that underscores the bank's commitment to expanding its commercial banking operations in the New York metropolitan area. Based at the bank's New York City Park Avenue location, Madonia brings over two decades of banking expertise, with a focus on client development and relationship management. His appointment is significant as it strengthens the bank's leadership team during a period of growth for Peapack-Gladstone Financial Corporation, which reported total assets of $7.0 billion and assets under management of $11.9 billion as of December 31, 2024.

Madonia's extensive background includes serving as a Senior Vice President Director at Amalgamated Bank, where he was responsible for building out the business banking segment. Prior to that, he held the position of SVP, Business Banking Team Leader at M&T Bank in Tarrytown, NY, leading a team of business bankers across Westchester and Fairfield counties. His professional experience is complemented by academic credentials, including an MBA in Financial Management from Pace University's Lubin School of Business and a Bachelor of Science degree from the SUNY Geneseo Jones School of Business. Beyond his banking career, Madonia demonstrates a commitment to community engagement, serving on the Board of Directors as Executive Vice President for ArtsWestchester, which may enhance his ability to build local business relationships.

The implications of this appointment are substantial for Peapack Private Bank & Trust's strategic objectives. Madonia's expertise is expected to significantly contribute to the bank's goals of growing its commercial loan and deposit portfolio in the York metropolitan area. By leveraging his deep understanding of business banking and proven relationship management skills, he is well-positioned to drive growth and enhance the bank's market presence. This move reflects a broader trend in the banking industry where institutions are investing in seasoned professionals to navigate competitive markets and expand their service offerings. For more information on the bank's services, visit https://www.peapackprivate.com. The appointment aligns with the bank's client-centric approach to banking and comprehensive financial solutions, as detailed in their corporate updates at https://www.peapackprivate.com/news.

This hiring decision matters because it signals Peapack Private Bank & Trust's proactive strategy to capitalize on opportunities in the New York banking sector, which is known for its high competition and demand for specialized financial services. Madonia's role will likely involve fostering new client relationships and strengthening existing ones, which could lead to increased market share and revenue growth for the bank. The timing of this appointment, as the bank continues to expand its services, suggests a focus on sustainable growth and enhanced service delivery. Ultimately, this move underscores the importance of experienced leadership in driving organizational success in the financial industry, with potential ripple effects on local business communities and the broader economic landscape.