Peapack Private Bank & Trust has strengthened its commercial banking division by recruiting Sonia Lugo as a Senior Managing Director, signaling strategic expansion into the Long Island market. Lugo brings extensive financial services expertise, having previously held leadership positions at Flagstar Bank, HSBC Bank USA, and Banco Popular.
In her new role, Lugo will lead a team of relationship managers, leveraging her proven track record of portfolio management and business development. Her professional history includes building and managing substantial commercial portfolios, with previous experience overseeing assets ranging from $42 million to $130 million across different financial institutions.
Lugo's appointment represents a strategic move for Peapack Private Bank & Trust, which seeks to enhance its commercial banking presence in Long Island. With more than 20 years of financial services experience, she brings deep industry knowledge and an established network of professional relationships to support the bank's growth objectives.
The bank, which has total assets of $7.1 billion and assets under management of $11.8 billion as of March 31, 2025, continues to demonstrate its commitment to expanding its commercial banking capabilities through strategic talent acquisition.
