Patrick M. Campion
About Patrick M. Campion
Independent director of Peapack-Gladstone Financial Corporation (PGC); age 63; director since 2023. Retired wealth management executive; former Americas Region Head–Wealth Management at Deutsche Bank with prior leadership roles at HSBC and Citi Private Bank. Core credentials: 20+ years leading U.S. regional and international wealth management businesses; strengths in growth strategy, sales/performance management, client experience, and regulatory compliance . As a member of the Compensation Committee, he is deemed independent under Nasdaq rules (all members of the Nominating, Compensation, and Audit Committees are independent) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Deutsche Bank | Americas Region Head – Wealth Management | Not disclosed | Led strategies for business growth, sales/performance management, client experience, regulatory compliance |
| HSBC | Senior executive, wealth management | Not disclosed | Leadership in U.S./international wealth management |
| Citi Private Bank | Senior executive, wealth management | Not disclosed | Leadership in U.S./international wealth management |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| None disclosed | — | — | — |
| No other public company directorships were disclosed for Campion in the proxy’s “Nominees” table . |
Board Governance
- Committee assignments and chair roles (as of Mar 5, 2025):
- Compensation Committee: Member (not Chair)
- No other committee assignments disclosed for Campion
- Committee meeting cadence in 2024: Audit (8), Compensation (6), Nominating (1), Risk (6)
- Attendance and engagement: In 2024, the Board and Bank board each met 11 times; every director attended at least 75% of the meetings of the Board and committees on which they served
- Independence: Majority of directors are independent; all members of Compensation, Nominating, and Audit are independent under Nasdaq and Rule 10A-3 (Audit)
- Board leadership: Independent Chair; separate Chair/CEO roles; independent director executive sessions at least semi-annually
- Compensation Committee composition and advisor: Members include F. Duffield Meyercord (Chair), Patrick M. Campion, Anthony J. Consi, II, and Tony Spinelli; the Committee engages Aon PLC as independent compensation consultant and concluded no conflicts of interest
Fixed Compensation
| Component | Policy Rate / Structure | 2024 Amount for Campion |
|---|---|---|
| Annual Board retainer (non-employee director) | $10,000 cash | Included in cash total |
| Meeting fees (Board, Executive, other committees) | $2,000 per meeting | Included in cash total |
| Trust Committee meeting fee | $900 per meeting | N/A if not on Trust Committee; included in totals if applicable |
| Committee chair premiums | Board Chair $80,000; Audit Chair $25,000; Risk Chair $15,000; Nominating Chair $10,000 | Not applicable to Campion (not a chair) |
| Cash fees actually earned (2024) | — | $47,850 |
Performance Compensation
| Element | Grant date | Units/Shares | Grant-date fair value | Vesting | Performance metrics |
|---|---|---|---|---|---|
| Phantom stock units (director equity) | 2024 | 2,069 | $49,490 | Vest on Mar 20, 2025 | None disclosed for directors; time-based only |
Notes:
- The proxy states none of the directors had outstanding restricted stock awards, restricted stock units, or stock options at Dec 31, 2024; directors held phantom units as shown above .
- The plan details for directors’ phantom units did not specify performance-based vesting; vesting is time-based (one-year) .
Other Directorships & Interlocks
| Company | Role | Interlocks/Conflicts | Source |
|---|---|---|---|
| None disclosed | — | None disclosed |
Expertise & Qualifications
- Wealth management leadership across Deutsche Bank, HSBC, and Citi Private Bank; led financial and cultural transformations
- Strategy execution for growth, sales and performance management
- Client experience and regulatory compliance expertise
Equity Ownership
| Ownership detail | Value |
|---|---|
| Beneficial ownership (as of Mar 5, 2025) | 340 shares; less than 0.5% of class |
| Phantom stock units outstanding (12/31/2024) | 2,069 units |
| Options outstanding | None (directors) |
| Stock ownership guidelines (Directors) | New directors: minimum $10,000 at appointment; ongoing: maintain 5× annual Board retainer in Company stock; retain 100% of net shares from Company grants until guideline achieved |
| Hedging/Pledging | Hedging by directors prohibited; insider trading policy applies. Anti-pledging policy described for executives; no director pledging disclosed |
Governance Assessment
- Strengths
- Independence: Compensation Committee membership implies Campion meets Nasdaq independence; board maintains independent committee chairs and an independent Chair .
- Engagement: Board and committees were active in 2024; directors met attendance thresholds (≥75%) .
- Compensation governance: Use of independent consultant (Aon), no consultant conflicts found; committee composition disclosed .
- Shareholder alignment signals: 2024 say-on-pay passed with 87% of votes cast in favor, indicating generally supportive investor sentiment .
- Risk controls: Anti-hedging policy applies to directors; related-person transactions subject to policy and conducted on market terms, without unfavorable features per management .
- Watch items / potential red flags
- Performance linkage of director pay: Director equity uses one-year time-based phantom units without explicit performance metrics, which may dilute pay-for-performance signaling for directors .
- Ownership alignment: Campion’s disclosed beneficial holdings (340 shares) are modest as of Mar 5, 2025; directors must ultimately meet 5× retainer ownership guideline (no set compliance period beyond initial minimum, but must retain 100% of net shares until compliant). Monitor progression toward guideline over tenure .
- Related-party exposure: No Campion-specific related-party transactions disclosed; continue to monitor annual “Transactions with Related Persons” for updates .
No other public company directorships or interlocks were disclosed for Campion in the proxy “Nominees” section, reducing potential conflict vectors .
Appendix: Supporting Data Tables (Director-focused)
Director compensation (2024)
| Name | Cash Fees | Stock/Phantom Awards | Total |
|---|---|---|---|
| Patrick M. Campion | $47,850 | $49,490 | $97,340 |
Committees and meetings (2024)
| Committee | Member? | Chair? | Meetings in 2024 |
|---|---|---|---|
| Compensation | Yes | No | 6 |
| Audit | No | — | 8 |
| Nominating | No | — | 1 |
| Risk | No | — | 6 |
Director biography snapshot
| Attribute | Detail |
|---|---|
| Age | 63 |
| Director since | 2023 |
| Status | Independent director; Compensation Committee member |
| Background | Retired; former Americas Region Head–Wealth Management (Deutsche Bank); prior roles at HSBC, Citi Private Bank |
Share ownership (as of Mar 5, 2025)
| Holder | Shares | % of Class |
|---|---|---|
| Patrick Campion | 340 | <0.5% |