Peapack-Gladstone Bank is opening a private banking office in Princeton, NJ, this month, in an expansion of its wealth management business.

As part of its move into the region, the bank has hired Sean Murray from Wilmington Trust. At Wilmington, Murray ran wealth advisory services in the New Jersey market, as market executive. He will lead Peapack-Gladstone’s team in the area as senior managing director and market president.

He is joined in his move to Peapack-Gladstone by Gene McCarthy, who has been appointed lead senior managing director, commercial banking. McCarthy was most recently team leader of real estate and commercial banking of the Princeton office of M&T Bank/Wilmington Trust.

Gerald Buffalino and Jennifer Ohlweiler are also joining the bank as senior managing directors, commercial banking. Buffalino was previously a vice president and senior relationship manager at M&T/Wilmington Trust, while Ohlweiler was a commercial banker at M&T Bank.

The duo will work with McCarthy to develop the commercial banking and wealth management business lines, as well as the client service model.

In other hires, the bank has appointed Delia Bass-Dandridge as senior managing director, wealth. Dandridge is a former vice president and senior private client advisor at Wilmington Trust. She will focus on growing the bank’s relationship banking and wealth management business.

Catherine Fedor, Haley Overington and Catina Hood complete the new Princeton team of private bankers.

Fedor joins as a managing director, private banking, having latterly worked at Wachovia Bank. Overington and Hood join as private bankers, specializing in deposits, and both previously worked at M&T Bank.

"This location and team is an exact fit with our strategic plan known as 'Expanding Our Reach,' which focuses on the client experience and growth across all lines of business," said Doug Kennedy, president and chief executive of Peapack-Gladstone Bank. 

Kennedy added that the bank is focused on “aggressively building our private banking platform which incorporates wealth, lending and deposit solutions.”

He added: “Since the initial implementation of our plan earlier this year, we have been particularly pleased with the growth in our loan pipelines and wealth business.”

Assets under administration in the wealth business were $2.5 billion as of March 31, 2013, compared to $2.1 billion a year earlier.