|By PR Newswire||
|January 27, 2014 03:15 PM EST||
CHICAGO, Jan. 27, 2014 /PRNewswire/ -- The PrivateBank today announced the launch of its Financial Institutions Group, focused on providing correspondent banking and depository services to financial services companies, including community banks, asset managers, futures commission merchants and hedge funds.
Financial Institutions joins the bank's specialty areas of focus in asset-based lending, construction and engineering, healthcare, insurance, security alarm finance and structured finance.
"The PrivateBank has been successful in creating specific industry niches where we combine experienced relationship managers with our premier products and services to address the unique needs of our clients," said Larry D. Richman, President and Chief Executive Officer, PrivateBancorp, Inc. "We recognized an opportunity to bring this approach to the financial services community, particularly in our Chicago market."
Patrick Horne and Kevin Kehoe have joined The PrivateBank as Managing Directors in the Financial Institutions Group, with a focus on delivering correspondent banking services to community banks throughout the Midwest. Horne and Kehoe report to Robert Frentzel, Head of Specialized Industries at The PrivateBank, and together bring more than 35 years of experience in correspondent banking to their clients. They joined The PrivateBank from Associated Bank, where they held similar roles.
Matthew Logan and Joseph Wicklander, who joined The PrivateBank as Managing Directors in the Financial Institutions Group, also report to Frentzel. Both previously were Directors with Bank of America Merrill Lynch in its Financial Institutions group and combined have over 20 years of experience working with a variety of bank and non-bank financial services clients.
"This team has a firm understanding of the opportunities and challenges for financial services companies right now," Frentzel said. "They will leverage the relationships they have built over the years to deliver the breadth of lending services, treasury management, institutional trust and capital markets services we offer as we help these companies reach their business goals."
About The PrivateBank
The PrivateBank is a part of PrivateBancorp, Inc., and delivers customized business and personal financial services to middle-market companies, as well as business owners, executives, entrepreneurs and families in all of the markets and communities it serves. As of December 31, 2013, the company had 33 offices in 10 states and $14.1 billion in assets. The company's website is www.theprivatebank.com.
Image with caption: "Joseph Wicklander named Managing Director, Financial Institutions Group, at The PrivateBank in Chicago." Image available at: http://photos.prnewswire.com/prnh/20140127/MM53255-a
Image with caption: "Matthew Logan named Managing Director, Financial Institutions Group, at The PrivateBank in Chicago." Image available at: http://photos.prnewswire.com/prnh/20140127/MM53255-b
Image with caption: Patrick Horne named Managing Director, Financial Institutions Group, at The PrivateBank in Chicago." Image available at: http://photos.prnewswire.com/prnh/20140127/MM53255-c
Image with caption: "Kevin Kehoe named Managing Director, Financial Institutions Group, at The PrivateBank in Chicago." Image available at: http://photos.prnewswire.com/prnh/20140127/MM53255-d
SOURCE The PrivateBank
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