"Since The PrivateBank's inception, Gary has been instrumental to our
growth and success. Serving the needs of our private clients has always been
a fundamental part of our business model, and consolidating responsibility for
those services in The PrivateClients Group and our
Collins joined The PrivateBank in 1991 as one of its founding managing
directors. Prior to joining The PrivateBank, Collins was senior vice
president of First United Financial Services and the Oak Park Trust and
Savings Bank. He holds a BS in finance from DePaul University,
"I am excited to be assuming these new responsibilities and look forward
to working with Larry, Ralph and the entire management team to significantly
grow The PrivateClients Group. This is a unique opportunity to build and
expand our client relationships with the goal of becoming the preeminent
middle market commercial and private bank in
The Company also announced that Hugh H. McLean, Executive Managing
Director and President, PrivateBank - Suburban Offices, has resigned from the
Company and the Bank effective
"Hugh has made a significant, positive impact on our Company and the Bank over his twelve year tenure. His leadership, talent and dedication to our organization and our clients were outstanding. We regret Hugh's departure, but respect his decision and wish him nothing but the best in his future endeavors," said Ralph B. Mandell, Chairman of PrivateBancorp, Inc.
About PrivateBancorp, Inc.
PrivateBancorp, Inc., through its PrivateBank subsidiaries, provides
distinctive, highly personalized, premium financial services to a growing
array of successful entrepreneurial and middle market privately held and
public businesses, affluent individuals, wealthy families, professionals,
entrepreneurs and real estate investors. The PrivateBank uses a European
tradition of "private banking" as a model to develop lifetime relationships
with its clients. Through a team of highly qualified managing directors, The
PrivateBank delivers a sophisticated suite of tailored credit, treasury and
wealth management solutions to meet its client's personal and commercial
financial needs. The Company, which had assets of
Additional information can be found in the Investor Relations section of PrivateBancorp, Inc.'s website at http://www.pvtb.com.
Forward-Looking Statements: Statements contained in this news release that
are not historical facts may constitute forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as amended. The
Company's ability to predict results or the actual effect of future plans or
strategies is inherently uncertain. Factors which could have a material
adverse effect on the operations and future prospects of the Company include,
but are not limited to, fluctuations in market rates of interest and loan and
deposit pricing in the Company's market areas, the effect of continued margin
pressure on the Company's earnings, further deterioration in asset quality,
insufficient liquidity/funding sources or the inability to obtain on terms
acceptable to the Company the funding necessary to fund its loan growth,
legislative or regulatory changes, adverse developments in the Company's loan
or investment portfolios, slower than anticipated growth of the Company's
business or unanticipated business declines, failure to get regulatory
approval for a de novo federal savings bank in
SOURCE PrivateBancorp, Inc.