On July 3, 2019, Peapack-Gladstone Financial Corporation announced that it had entered into an agreement to acquire Point View Wealth Management, Inc.
Pursuant to the agreement, Peapack-Gladstone Financial Corporation (“Peapack-Gladstone”), parent company of Peapack-Gladstone Bank (the “Bank”), will acquire Point View Wealth Management, Inc. (“Point View”). The deal is subject to customary closing conditions and regulatory approval, and is expected to close in the third quarter of 2019. Point View will join the Bank’s wealth management division, Peapack Private.
Point View, based in Summit, New Jersey, is an independent investment adviser that provides portfolio management and financial planning services. It has assets under management in excess of $300 million.
Peapack-Gladstone (Nasdaq: PGC), founded in 1921, is a New Jersey-based bank holding company with $4.66 billion in total assets and $6.3 billion in assets under management as of March 31, 2019. Park Sutton Advisors, LLC served as financial advisor to Peapack-Gladstone in connection with the transaction.
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