Peapack Capital expands equipment finance, leasing operations

Peapack-Gladstone Financial announced that its subsidiary, Peapack Capital, has expanded its equipment finance and leasing team as part of a strategy to drive growth and diversify its portfolio.

The unit is now led by Anthony Perettine, senior managing director and president, who previously headed Flagstar Financial’s equipment finance division, according to a Sept. 12 Peapack-Gladstone release. He will oversee product expansion, client relationships and revenue growth while managing both intermediary and direct business lines.

Joining Perettine is Bruce Winter, senior managing director and chief operating officer, who brings decades of industry experience, including founding FSG Capital in 1991 and serving in multiple leadership roles with the Equipment Leasing and Finance Association, according to the release. Additional team members from Flagstar — Leslie Roberts, Lori Gresko, Kevin Kitson and Nicholas Cremonese Jr. — also join to strengthen underwriting, client management and business development.

They will work alongside Peapack Capital’s existing leadership to broaden intermediary financing programs and enhance the company’s competitive position in the equipment finance sector, according to the release.

Peapack-Gladstone’s C&I loans, which include equipment finance loans and leases, landed at $458 million for the six months ended June 30, up 84% year over year, according to the company’s Aug. 8 10-Q filing with the SEC.

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