Peapack-Gladstone Bank has created a new team of private bankers to launch Peapack Capital Corporation, the newest subsidiary of the bank, which will focus on equipment finance and leasing.

Doug Kennedy, president and chief executive officer of Peapack-Gladstone Bank, said: “Equipment leasing is the logical next step for us.

“We have found a team that fits our aggressive style and is able to launch the program with a foundation built on years of experience.”

Robert Cobleigh will head up the team as an executive vice president of the bank, and as the president of Peapack Capital.

Cobleigh is responsible for launching the equipment leasing program and introducing the bank’s brand to the market.

He has more than 30 years of leasing and structured finance expertise in a broad range of industries and assets including manufacturing, trucking, business aviation, rail, marine and energy.

He most recently served as regional vice president and credit officer for Santander Corporate Equipment Finance, and has worked for MUFG-Union Bank/The Bank of Tokyo-Mitsubishi in New York, as well as RBS/Citizens Asset Finance, Siemens Financial Services, and Volvo Finance North America.

Denny Smith will serve as senior vice president and chief operating officer of Peapack Capital, while Frank Striplin and Christopher McManus join as senior vice presidents and sales directors.

Kennedy said: “It is important for us to enter this arena. As a high-performing boutique bank we are aggressively building our platforms and incorporating wealth, lending and deposit solutions along the way. In order to grow, we need to expand into new territories. Peapack Capital allows us to do this in a purposeful and measured way.”