Peapack-Gladstone Bank names new Chief Audit Executive

BEDMINSTER, NJ - Peapack-Gladstone Financial Corporation (NASDAQ:PGC) and its wealth management division, Peapack Private Bank & Trust, have appointed A. Michael Smith as Senior Vice President and Chief Audit Executive. Smith brings over three decades of experience in auditing, risk management, and technology to the role, where he will oversee the internal audit function and spearhead strategic initiatives to foster the bank’s ongoing growth.

Smith’s career includes a tenure as Chief Audit Executive at Nasdaq, where he established a high-caliber internal audit department and utilized advanced technologies for managing transactions across global markets. Prior to that, he was a Partner at PwC, focusing on internal audit transformation through innovation and emerging technologies. His leadership experience is further bolstered by senior roles at several large financial institutions and as a partner at Deloitte & Touche.

In addition to his executive roles, Smith has contributed to the field as an author, with his publication "Internal Audit of the Future: The Impact of Technology Innovation" examining the transformative effects of technology on auditing. His expertise is also recognized by a U.S. patent he holds for auditing cryptocurrency assets. Smith’s academic credentials include a Bachelor of Business Administration from Baylor University, and he is certified as a Public Accountant (CPA), Information Systems Auditor (CISA), and Information Systems Security Professional (CISSP).

Peapack-Gladstone Financial Corporation, established in 1921, reported total assets of $7.1 billion and assets under management and/or administration of $11.8 billion as of March 31, 2025. With a market capitalization of $483 million and a price-to-book ratio of 0.78, InvestingPro analysis suggests the stock is currently undervalued. The bank is known for its client-centric approach, offering high-quality products and personalized wealth management, investment banking, commercial, and personal banking solutions. Recent financial data shows a healthy revenue growth of 9.8% and a return on equity of 5%. Its wealth management division provides financial, tax, fiduciary, and investment advice to a diverse clientele, including individuals, families, businesses, family offices, and not-for-profit organizations.

This appointment is expected to enhance the bank’s internal audit capabilities and support its commitment to client service. The information is based on a press release statement from Peapack-Gladstone Financial Corporation. InvestingPro subscribers have access to additional insights, including 12+ exclusive ProTips and comprehensive financial health scores that help evaluate the company’s long-term potential.

In other recent news, Peapack-Gladstone Financial Corporation has reported several notable developments. The company has appointed Assimina Mina Nikiforos as Senior Managing Director within its Commercial Banking division, aiming to enhance client service and expand its expertise. This move follows her tenure at Flagstar Bank, where she was vice president and group director. Additionally, Carlos A. Pacheco has been elevated to Senior Vice President, Director of Enterprise Client Experience, focusing on enhancing client interactions and satisfaction through various strategic initiatives.

Raymond James has initiated coverage on Peapack-Gladstone Financial with a Strong Buy rating and a price target of $39.00, citing strategic management initiatives and the potential of the bank’s wealth management business as key factors. The analyst from Raymond James believes that improving the deposit base and leveraging the wealth management division could significantly enhance the company’s franchise value. Despite a slight decline in asset quality, the bank has maintained minimal losses, which is seen as a positive indicator for its future financial health. These recent developments highlight Peapack-Gladstone Financial’s ongoing efforts to strengthen its market position and improve its financial performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.