Shares of Peapack-Gladstone Financial Corporation (PGC) dropped 1.11% to $45.35 following the announcement of Leonard Carraturo joining the team as Senior Managing Director and Commercial Private Banker. This move is part of the bank's plan to expand its commercial banking services and deepen its relationship banking approach.
Experienced Commercial Banker Strengthens Peapack Private
Leonard Carraturo brings more than 20 years of expertise to Peapack Private Bank & Trust. His role will focus on delivering tailored lending and banking solutions to middle-market companies across various industries. Carraturo’s responsibilities also include facilitating acquisitions, capital investments, treasury management, and long-term financing options.
His appointment enhances Peapack’s commercial banking division and broadens its advisory reach. Carraturo’s extensive background covers commercial and industrial lending, sponsor finance, healthcare financing, and asset-based lending, along with treasury management and long-term client relations. Senior Managing Director Dawn Kasulke highlighted that Carraturo’s market knowledge and experience will reinforce the bank’s ability to provide financial solutions aligned with its relationship-driven banking model.
Before joining Peapack, Carraturo held senior roles at Metropolitan Commercial Bank as Vice President and Commercial Banking Relationship Manager, where he developed financing strategies for sectors including healthcare and private equity-backed businesses. He also served as Vice President and Business Development Officer for Asset-Based Lending at Webster Bank, growing lending portfolios in healthcare, manufacturing, and distribution sectors. Carraturo’s earlier career included positions at Wells Fargo, JPMorgan Chase, and Moody’s Investors Service, which sharpened his skills in underwriting and credit analysis.
