Gregory M. Smith, president of commercial banking (standing) and Stuart Vorcheimer, market president and head of commercial and industrial lending (seated) at Peapack-Gladstone Bank
By Joshua Burd
Peapack-Gladstone Bank has made two key promotions within its commercial lending team, elevating two veteran bankers with a combined six decades of experience.
The lender and its parent company, Peapack-Gladstone Financial Corp., announced Friday that it has promoted Gregory M. Smith to president of commercial banking. Meantime, it has tapped Stuart Vorcheimer as its new market president and head of commercial and industrial lending.
“Both Greg and Stuart are proven, highly skilled leaders with exceptional performance, management and strategy expertise in building and managing cross-functional teams, with an approach to banking focused on teamwork, dedication and commitment,” said Doug Kennedy, CEO and president of the Bedminster-based lender.
In his new role, Smith will lead the organization in areas such as commercial and industrial lending, commercial real estate and multifamily lending, equipment finance, investment banking and corporate advisory, according to a news release. His team will also comprise the bank’s platinum service and professional services group, residential lending, the Small Business Administration team and treasury management and escrow services.
Smith joined the bank in 2019 after seven years with Capital One, where he served as the group sales executive for the Northeast and Mid-Atlantic regions. In that role, he was responsible for the $2 million to $25 million business banking segment from Virginia to Massachusetts.
Prior to Capital One, he worked at Summit Bank for 15 years, rising to senior regional vice president and overseeing a significant segment of the New Jersey market, the announcement said. Smith holds an MBA from Rider University and bachelor’s in finance from Fairleigh Dickinson University.
As market president and head of C&I lending, Vorcheimer is responsible for leading Peapack-Gladstone’s team of commercial private bankers, whose services include wealth and deposit solutions for commercial businesses in northern New Jersey and the tristate region. He has 27 years of experience in the financial services industry, with a focus on middle market companies.
Prior to Peapack-Gladstone Bank, Vorcheimer served as senior vice president, senior relationship manager, middle market and commercial banking at Capital One, the news release said. In that role, he grew business revenues through commercial banking relationship and portfolio management, cross-sell strategies and new client acquisition.
He was also responsible for the contractor lending specialty team, which led to relationship success throughout New Jersey, according to Peapack-Gladstone. Previously, as senior vice president at Bank of America, Vorcheimer was instrumental in the growth, profitability and cross-sell of all bank products, achieving the Bank’s Pinnacle Award for five consecutive years.
The Wayne resident holds a bachelor’s in business administration from the University of Hartford. Vorcheimer is a member of the board of directors and the former board chairman of the Metropolitan YMCA, the largest YMCA association in New Jersey.