Peapack-Gladstone Financial Corp. (PGC) in Bedminster, N.J., has hired a Morgan Stanley executive as its new risk head.

Karen Rockoff is the $1.6 billion-asset company's chief risk officer and head of enterprise risk management, it said Thursday. She assumed the role on April 15.

Before joining Peapack-Gladstone, Rockoff spent more than 16 years in Morgan Stanley's credit risk unit, most recently as an executive director. Earlier, she was senior credit analyst for Nomura Securities International.

Rockoff takes over risk-management duties from Finn Caspersen, the bank's general counsel and chief operating officer. Peapack-Gladstone's recent growth spurred management to appoint an executive solely responsible for overseeing risk, Caspersen said.

Rockoff's appointment is the latest in a series of executive changes at Peapack-Gladstone. In October it named former Capital One (COF) executive Douglas Kennedy as its chief executive, and in November President and Chief Operating Officer Robert Rogers resigned. Kennedy succeeded Rogers as president and Caspersen as COO.

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