BEDMINSTER, N.J., Dec. 19, 2012 /PRNewswire/ -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) announced today that it has received approval to establish PGB Trust & Investments of Delaware, a subsidiary of Peapack-Gladstone Bank. PGB Trust & Investments of Delaware, located in Greenville, DE, will allow clients to realize the advantages of Delaware trusts, which offer significant income and estate tax benefits, as well as greater flexibility to establish multi-generational trusts. PGB Trust & Investments, the wealth management division of Peapack-Gladstone Bank, is one of the largest New Jersey-based asset managers with more than $2.0 billion in assets currently under administration. With its headquarters in Bedminster and additional offices in Morristown, Clinton and Summit, as well as Bethlehem, Pennsylvania, PGB Trust & Investments is known for its integrity, client service and broad range of fiduciary, investment management and tax services, designed specifically to meet the needs of high net worth individuals and families, foundations and endowments. "PGB Trust & Investments of Delaware will enable our wealth management division to meet the growing needs of our clients," said Craig C. Spengeman, president of PGB Trust & Investments. "The Delaware subsidiary will allow us to help our clients find the most efficient ways to protect and perpetuate their assets and maximize the amount they are able to pass onto their heirs." As part of the team responsible for the bank's wealth advisory services and solutions, Lisa K. Berry, vice president and private wealth advisor, will head the operations of the Delaware office. "Lisa has over 25 years of wealth management experience and is committed to providing our clients with exceptional care," commented Spengeman. Prior to joining PGB Trust & Investments earlier this year, Berry held positions at U.S. Trust, Bank of America Private Wealth Management, Chase Manhattan Bank, N.A., Wachovia Bank, N.A.; as well as PNC Bank, N.A. and Citibank Private Bank.