Peapack Private Bank & Trust Expands Long Island Presence with Senior Managing Director Sonia Lugo

Peapack Private Bank & Trust has appointed Sonia Lugo as a Senior Managing Director, signaling the bank's strategic commitment to expanding its commercial banking presence in Long Island. Lugo brings extensive financial services experience, with over two decades of proven success in portfolio management and business development across multiple prestigious banking institutions.

In her new role, Lugo will lead a team of relationship managers, leveraging her substantial expertise in commercial banking to drive growth and establish new business opportunities. Her professional background includes significant leadership positions at notable financial institutions such as Flagstar Bank, HSBC Bank USA, and Banco Popular.

Prior to joining Peapack Private, Lugo demonstrated remarkable portfolio management skills at Flagstar Bank, where she was a vice president and group director responsible for building and managing a commercial portfolio exceeding $130 million. At HSBC Bank USA, she served as a senior relationship manager, developing new business and managing a commercial portfolio valued at more than $58 million.

Lugo's appointment represents a strategic move for Peapack Private Bank & Trust, which has total assets of $7.1 billion and assets under management of $11.8 billion as of March 31, 2025. Her extensive experience and proven track record in commercial banking align with the bank's client-centric approach and commitment to providing innovative banking solutions.

The recruitment of Lugo underscores the bank's ambition to expand its footprint in the Long Island market, bringing sophisticated financial expertise and strategic leadership to support its growth objectives. Her deep understanding of commercial banking dynamics and relationship management will be critical in driving the bank's expansion and delivering high-quality financial services to businesses in the region.