BEDMINSTER, N.J., Sept. 30, 2022 (GLOBE NEWSWIRE) — Via NewMediaWire — Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) announces its entry into the life insurance premium finance business, launching Peapack- We are increasing our presence in this space by joining Gladstone Bank.
By tailoring loans to each borrower’s specific circumstances, life insurance premium financing solutions enable high-net-worth clients and businesses to acquire the life insurance they need, while maintaining access to other investment opportunities. Allows you to hold assets for These specialized financial loans are invaluable tools for those looking to leverage their wealth and free up their capital.
Doug Kennedy, President and Chief Executive Officer of Peapac Gladstone Bank, said: “We believe this is the next logical step in our growth plans and will serve our clients at the level we have built over the years.”
The bank has hired Raymond Kim, of Holmdel, New Jersey, to lead the new division as Senior Managing Director and President. Raymond is responsible for developing new verticals and bringing this sophisticated and specialized financial solution to our high net worth customer base. Raymond has over 15 years of experience and most recently worked as a lender for one of North America’s largest specialty premium finances.He is a division of Lake Forest Bank & Trust Company, NA. served as Counsel and Vice President. At Wintrust, Raymond managed the day-to-day operations of the legal department and provided a wide range of corporate legal advice to numerous technical, business and operational departments. In addition, Raymond acted as a strategic advisor to executive leadership on transactional, regulatory and insurance matters, and was responsible for drafting and negotiating contracts related to over $7 billion in originations. Prior to joining Wintrust Life Finance in 2018, he worked in Norris, Pennsylvania. He specialized in litigation and banking. financial operations. Prior to that, Raymond served as both a Foreclosure and Judicial Law Clerk in the New Jersey State Administrative Office of the Superior Courts and Courts of New Jersey.
He graduated from Binghamton University with a BA in Philosophy, Politics and Law. Raymond holds a Juris Doctor degree from the Rutgers School of Law, has served as both his Brennan Constitutional Fellow with Marshall and his Horace & Kate King Woo Public Interest Fellow, and has received Deans Pro his Bono His Award for Outstanding Service Did. In addition, Raymond is a former board member of the Asia Pacific Bar Association in New Jersey and is currently participating in the 2022 cohort of selected members of the National Asia Pacific Bar Association’s Leadership Development Program. Raymond continues to practice law and is admissible in New Jersey, New York, the District of Columbia Court of Appeals, and the United States District Court for the District of New Jersey.
Joining Raymond in building the business is Anthony Roscalzo, of Fort Lee, New Jersey, who has been appointed Senior Managing Director and Chief Operating Officer of the bank’s newest division. With over 20 years of experience, Anthony is generally considered an expert in the field of life insurance premium finance, with a proven track record and knowledge of the market that provides banks with significant advantages. He joined the Bank from his Wintrust Life Finance and as the first member of the division, Sr. New Business Development He served as Loan Officer, partnering with high net worth clients for corporate and personal life insurance premiums. His finance was underwriting and managing his loans. Analyzing life insurance illustrations and financial statements, managing customer communications throughout the loan lifecycle. As a key member of the Wintrust team, he has grown the company’s portfolio from his $1 billion in assets to his over $7 billion. Prior to his experience at Wintrust, Anthony spent seven years at AI Credit Corp (AIG) where he held various account management roles and was responsible for all stages of loan processing for high net worth clients. Anthony will lead all relevant operational aspects and functions of the bank as his COO of Life Insurance Premium His Finance Division.
“Anthony and I are thrilled to represent banks in this space,” said Raymond Kim. We believe that offering this solution will benefit our customer base and significantly enhance our comprehensive private banking service model.”
About the company
Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with $6.2 billion in total assets and $9.5 billion in assets under management and/or administration as of June 30, 2022. Founded in 1921, Peapack-Gladstone Bank provides businesses and consumers with innovative wealth management, investment banking, commercial and retail solutions. PeaPac Private, the wealth management arm of a bank, provides comprehensive financial, tax, trust and investment advice and solutions to individuals, families, private companies, family offices and non-profit organizations, establishing, Support maintenance and expansion. their legacy. Together, Peapack-Gladstone Bank and Peapack Private offer an unmatched commitment to customer service. For more information, please visit www.pgbank.com and www.peapackprivate.com.
