The appointment of Alex Lurye as Senior Managing Director of Peapack Private Bank & Trust's New York commercial banking team represents a strategic investment in regional expertise as the institution seeks to expand its commercial lending operations in one of the nation's most competitive financial markets. Lurye brings more than 23 years of commercial lending experience across New York, Westchester, and Long Island to his new role, having most recently served as Senior Credit Officer of NYC Lending at Valley National Bank where he oversaw underwriting teams managing a substantial portfolio of $4 billion in commitments and $2.7 billion in outstandings.
This hiring demonstrates Peapack Private's commitment to building a stronger commercial banking presence in New York through experienced leadership. Lurye's previous role as Division Head of NY Commercial Banking at Valley National Bank involved directing group performance in budgeting, production, and portfolio management, while his position as Team Leader of NY Commercial Banking focused on leading relationship managers to drive growth in loans, deposits, and fee income. His extensive background in portfolio management and team leadership positions him to contribute significantly to Peapack Private's growth objectives in the New York metropolitan area.
The strategic importance of this appointment extends beyond individual expertise to reflect broader institutional priorities. Peapack-Gladstone Financial Corporation, with total assets of $7.2 billion and assets under management and/or administration of $12.3 billion as of June 30, 2025, is making deliberate investments in commercial banking talent to compete effectively in the New York market. Lurye's career development includes significant roles at Santander Bank and Wells Fargo in New York, where he honed his credit and relationship banking skills, complemented by his educational background with a Bachelor of Arts degree in Business Management and Finance from Brooklyn College.
This personnel move signals Peapack Private's ongoing commitment to strengthening regional expertise while expanding commercial lending capabilities. The bank's client-centric approach to banking, which includes providing high-quality products along with customized and innovative wealth management, investment banking, commercial and personal banking solutions, benefits from experienced leadership in key markets. Additional information about the bank's comprehensive services can be found at https://www.peapackprivate.com, though the immediate focus remains on leveraging Lurye's substantial experience to enhance the institution's competitive position.
The implications of this announcement extend to Peapack Private's strategic positioning within the New York banking landscape. By adding a senior executive with demonstrated success managing large commercial portfolios and leading banking teams, the institution gains valuable insight into regional market dynamics while strengthening its capacity to serve commercial clients effectively. This hiring represents more than individual career advancement—it reflects calculated institutional growth through targeted talent acquisition in a critical geographic market where commercial banking expertise directly influences competitive advantage and market share expansion.
