Peapack Private Wealth Management

Peapack Private Wealth Management

Peapack Private Wealth Management traces to 1921 and the founding of Peapack-Gladstone Bank. Douglas L. Kennedy serves as president and chief executive officer while John P. Babcock heads the wealth management division. The structure grew from a New Jersey commercial bank into a multi-family office that delivers integrated solutions rather than standalone investment products. The firm allocates across private credit, real estate and select equity holdings. Confirmed positions include a commercial real estate loan portfolio valued at $5.38 billion and public equity stakes in Apple, Alphabet and Microsoft. Direct lending targets middle-market companies while real estate exposure concentrates in the Northeast. Geographic reach covers New Jersey, New York and adjacent states through both direct loans and fund commitments. Assets under management stand at $13.1 billion. The firm maintains a New York City office on Park Avenue opened in 2025 and added multiple senior hires including Robert Melle in September 2025. Adjacent vehicles include the Peapack-Gladstone Bank Corporate Giving Program, which supported 335 organizations in 2024. Ownership of five wealth management subsidiaries extends operating reach inside the Northeast. The banking parent supplies an internal lending platform that generates proprietary deal flow unavailable to pure-play family offices. This hybrid architecture links deposit funding directly to credit deployment and allows the wealth division to offer clients access to originated loans alongside external fund commitments.