With the addition of a team of specialists who have joined Peapack-Gladstone Bank to establish a presence in the market, Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) announces its entry into the premium finance business. life insurance.
Doug Kennedy, President and CEO of Peapack-Gladstone Bank, said “Life insurance premium financing is a thriving industry.”
Life insurance premium financing options allow high net worth clients and businesses to purchase the life insurance they need while preserving their funds for other investment opportunities. Loans are tailored to each borrower’s unique situation. For those looking to leverage their wealth and free up capital, these specialist finance loans are an invaluable tool.
We believe this is the logical continuation of our expansion strategy and will benefit the clientele we have accumulated for a long time.
Raymond oversaw the day-to-day operations of Wintrust’s legal department, where he provided a wide range of corporate legal assistance to several technical, commercial and operational divisions. Additionally, Raymond acted as a strategic advisor to senior management on transactional, regulatory and insurance matters, and was responsible for preparing and negotiating origination-related contracts totaling over $7 billion. of dollars. Raymond worked as an associate attorney for a number of prestigious law firms before joining Wintrust Life Finance in 2018. These firms included Norris, McLoughlin & Marcus, PA, Sandelands Eyet, LLP and Parker McCay, PA, where he is focused on complex commercial litigation. and banking and financial services. In previous years, Raymond also worked for the New Jersey Courts Administrative Office and the New Jersey Superior Court as a foreclosure and judicial law clerk.
Raymond Kim, a native of Holmdel, New Jersey, has been appointed Senior Managing Director and President of the new division by the Bank. The task of creating the new vertical and introducing this sophisticated and specialized financing product to the Bank’s wealthy clientele falls to Raymond. Raymond has over 15 years of experience, most recently as Vice President and Assistant General Counsel of Lake Forest Bank & Trust Company, NA’s Wintrust Life Finance, North America’s largest premium finance specialty lender.
He earned his BA in Philosophy, Politics and Law from Binghamton University. The Marshall-Brennan Constitutional Fellow and Horace & Kate King Wu Public Interest Fellow who received the Dean’s Pro Bono Award for Exceptional Service, Raymond received his Juris Doctor from Rutgers School of Law. Additionally, Raymond participated in the highly competitive 2022 cohort of the National Asian Pacific Bar Association’s Leadership Promotion Program and is a past director of the Asian Pacific Lawyers Association of New Jersey. Raymond keeps his law license active and is admitted to practice in New Jersey, New York, the Court of Appeals for the District of Columbia and the District of New Jersey.
Fort Lee, New Jersey resident Anthony LoScalzo, who has been named Senior Managing Director and Chief Operating Officer of the Bank’s newest subsidiary, will work alongside Raymond to grow the business. Anthony is recognized as an authority in the life insurance premium finance industry with over 20 years of experience. His background and industry expertise will be a tremendous asset to the Bank.
His previous role was Senior Lending Manager for New Business Development at Wintrust Life Finance, where he worked with high net worth clients to underwrite corporate and personal life insurance premium finance loans and administer analyzes of life insurance illustrations and financial statements while managing communications with clients throughout the loan life cycle. He was instrumental in expanding the Wintrust team’s portfolio from $1 billion in assets to over $7 billion. Prior to working for Wintrust, Anthony spent seven years at AI Credit Corp (AIG), where he held various account management positions and was responsible for overseeing all aspects of the loan application process for high net worth clients.
He was instrumental in expanding the Wintrust team’s portfolio from $1 billion in assets to over $7 billion. Prior to working for Wintrust, Anthony spent seven years at AI Credit Corp (AIG), where he held various account management positions and was responsible for overseeing all aspects of the loan application process for high net worth clients. Anthony will be the COO of the Life Insurance Premium Finance division of the Bank and will be in charge of all operational aspects and related skills. Raymond Kim said: “Anthony and I are excited to represent the Bank in this area. “Premium financing is a very useful tool for wealthy clients who want to get the most out of their life insurance assets. Offering this option, we believe, will benefit the Bank’s customers and significantly improve the Bank’s all-inclusive private banking service model.
Summary of news:
- For its latest entry into the life insurance premium finance market, Peapack-Gladstone Bank has engaged a team
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