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Douglas Kennedy, president and chief executive officer for Peapack-Gladstone Bank, was named to the board of directors of the Federal Reserve Bank of New York, the Fed announced on Dec. 23.

Kennedy was elected to a three year-term, ending Dec. 31, 2022, by peer member-banks as a Class A director representing Group 2 which, the Fed said, is made up of banks with capital and surplus between $40 million and $2 billion.

Federal Reserve directors provide a link between the institution and the private sector. Each Federal Reserve Bank has nine directors to represent the interests of their specific district. Those directors are divided evenly among Class A, B and C designations. Kennedy will represent District member banks in his Class A role.

At Peapack-Gladstone, the bank said Kennedy is responsible for developing and acting on the institution’s strategic plan, launched in 2013. With more than four decades in the financial industry, he leads wealth, lending and deposits, branding, human capital, operations and technology at the Bedminster-based commercial bank.

“It is an exciting and critical time in our industry, and I am looking forward to sharing my views and perspective over the next three years,” Kennedy said in a prepared statement.

Prior to joining Peapack-Gladstone in 2012, Kennedy was New Jersey market president for Capital One Bank. He has also held executive level positions at Fleet Bank, Summit Bancorp and Bank of America, Peapack-Gladstone said.

Peapack-Gladstone Financial Corp. has total assets of $4.93 billion and assets under management and/or administration of $7.0 billion, as of Sept. 30, 2019.

Kennedy is a current member of the New Jersey Chamber of Commerce board of directors, the Montclair University board of trustees and the Sacred Heart University board of trustees.