Peapack-Gladstone Financial (PGC) in Bedminster, N.J., has hired a president of private wealth management.

The $1.8 billion-asset company said in a press release Tuesday that John Babcock has 33 years of experience in wealth management and private banking. He recently served as a managing director and regional head of the Northeast Mid-Atlantic region for HSBC Private Bank. Before that, he was a managing director and regional chief executive for U.S. Trust/Bank of America.

Babcock's "experience in leading commercial banking, private banking and wealth management teams in New Jersey and the metro-New York market provide us with a unique perspective and align directly with our strategic plan, which focuses on the client experience and aggressively building and maintaining a private banking platform," Doug Kennedy, the company's president and chief executive, said in the release.

Babcock's predecessor, Craig Spengeman, announced plans last fall to leave the company.

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