Peapack-Gladstone Financial Corp. and Peapack-Gladstone Bank named new leaders for its equipment finance and leasing subsidiary, Peapack Capital, the Bedminster-headquartered company announced Sept. 19.
Dennis Smith is the new president of the division, and Richard Johnston has been named national director of sales. They will lead a team of 16 out of Bedminster and Northborough, Mass.
Peapack Capital provides financing from $3 million to $30 million to middle market and large corporate clients across the U.S, specializing in large-scale transactions.
A 30-year-plus industry veteran, Smith joined Peapack Capital in 2017 as senior vice president and chief operating officer. As president, Smith will focus on elevating divisional operations and capabilities and lead the equipment finance and lease vertical for the division.
Before joining Peapack Capital, Smith, who is based in Hudson, N.H., held executive positions at Sovereign Bank/Santander Bank NA, Fleet Capital Corp. and Signal Capital Corp. He earned a bachelor’s degree in business administration from the University of New Hampshire.
Johnston, who is based in Mountainside, joined Peapack Capital in 2017 as senior vice president, Capital Markets. He brings to the position more than 30 years of leasing and structured finance expertise in the origination of middle market and large-ticket asset finance transactions.
In his new role, Johnston will lead the sales team in both direct and indirect sales. Prior to joining Peapack Capital, he also served in capital market roles at Sumitomo Mitsui Finance & Leasing, Citizens Asset Finance, AIG Commercial Asset Finance and Siemens Financial Services Inc.
Johnston earned a bachelor’s degree in finance from Fairfield University and an MBA in finance from Fordham University.