Douglas L. Kennedy, president and chief executive officer of Peapack-Gladstone Bank, has been appointed to the board of directors of the Federal Reserve Bank of New York.
Kennedy was elected by peer member banks as a “Class A Director” for a three-year term ending December 31, 2022.
As president and CEO of Peapack-Gladstone Bank, Kennedy is responsible for developing and executing on its strategic vision, which was launched in 2013. With more than 40 years in the industry, Kennedy has a proven track record of building and repositioning businesses.
Each Federal Reserve Bank has nine directors who represent the interests of their District and whose experiences provide a wider range of expertise which helps the Federal Reserve Bank fulfill its policy and operational responsibilities. Those directors are divided evenly by classification: designated Class A, B, and C. Class A directors represent the member banks in the district.
Federal Reserve Bank directors serve as a link between the Federal Reserve and the private sector, ensuring that the Federal Reserve’s decisions on monetary policy are informed by economic conditions on the ground.
“I am grateful for the opportunity to serve on the New York Fed’s Board,” said Mr. Kennedy. “It is an exciting and critical time in our industry, and I am looking forward to sharing my views and perspective over the next three years.”
Before joining Peapack-Gladstone Bank in 2012, Kennedy served as president of the New Jersey Market for Capital One Bank. He also held key executive level positions at Fleet Bank, Summit Bancorp and Bank of America.
