Curated News
By: NewsRamp Editorial Staff
October 03, 2025
Peapack Private Hires Banking Veteran Alex Lurye for NY Expansion
TLDR
- Peapack Private Bank strengthens its New York commercial banking team with Alex Lurye's extensive experience, gaining competitive advantage in the regional market.
- Alex Lurye brings 23 years of commercial lending expertise and portfolio management skills to Peapack Private Bank's New York operations.
- This strategic hire enhances Peapack Private Bank's ability to provide better financial solutions and support for businesses and communities in New York.
- Alex Lurye's diverse background includes a philosophy minor alongside his finance degree, bringing unique perspective to commercial banking leadership.
Impact - Why it Matters
This strategic hire signals Peapack Private's aggressive expansion into the competitive New York commercial banking market, which could provide businesses in the region with additional lending options and financial services. For companies seeking commercial banking relationships, the addition of an experienced banking executive like Lurye means potentially more sophisticated financial solutions and enhanced service capabilities. The move also reflects ongoing competition among regional banks to capture market share in key financial centers, which typically leads to improved services and more competitive terms for business clients. In the broader banking landscape, such high-profile hires often precede increased lending activity and market expansion, potentially benefiting the local business ecosystem.
Summary
Peapack-Gladstone Financial Corporation and its subsidiary Peapack Private Bank & Trust have significantly strengthened their New York commercial banking presence with the strategic hiring of Alex Lurye as Senior Managing Director. The announcement, distributed through NEWMEDIAWIRE, highlights Lurye's impressive 23-year track record in commercial lending across key New York markets including New York City, Westchester, and Long Island. His most recent position as Senior Credit Officer of NYC Lending at Valley National Bank saw him overseeing underwriting teams managing a substantial $4 billion in commitments and $2.7 billion in outstanding loans, demonstrating his capacity to handle complex financial portfolios and lead high-performing teams.
Lurye brings extensive leadership experience from his previous roles at Valley National Bank, where he served as Division Head of NY Commercial Banking, directing group performance in critical areas such as budgeting, production, and portfolio management. His background also includes significant positions at major financial institutions including Santander Bank and Wells Fargo, where he developed comprehensive credit and relationship banking expertise. This diverse experience across multiple leading banks positions him to drive growth in Peapack Private's commercial banking division, particularly in expanding loan portfolios, deposit bases, and fee income streams for the New Jersey-based financial institution.
The hiring comes as Peapack-Gladstone Financial Corporation, with $7.2 billion in total assets and $12.3 billion in assets under management and administration as of June 2025, continues to expand its client-centric banking approach. Founded in 1921, Peapack Private Bank & Trust offers comprehensive wealth management, investment banking, and commercial banking solutions through its website at www.peapackprivate.com. The addition of Lurye to their New York team represents a strategic move to enhance their commercial banking capabilities in one of the world's most competitive financial markets, leveraging his deep industry connections and proven track record in portfolio management and business development.
Source Statement
This curated news summary relied on content disributed by NewMediaWire. Read the original source here, Peapack Private Hires Banking Veteran Alex Lurye for NY Expansion
