CHICAGO, Dec. 6, 2010 /PRNewswire-FirstCall/ -- PrivateBancorp, Inc. (Nasdaq: PVTB) today announced two appointments to its Community Banking line of business. Thomas Doherty is named Managing Director and Head of Business Banking and Richard Bechtel is named Managing Director and Head of Mortgage Banking.
Doherty joined The PrivateBank from First Chicago Bank, where he was Group Manager for Business and Retail Banking. Prior to that, he served as Group Senior Vice President for Business Banking at LaSalle Bank. Doherty will lead the bank's focus on businesses with up to $10 million in annual revenue across the Chicago market.
Bechtel, who joined The PrivateBank in 2009 and previously headed its suburban market private banking activities, has more than 20 years of mortgage banking experience, including with Chase and Wells Fargo. He will oversee The PrivateBank's mortgage banking activities in Illinois, Michigan and Missouri.
Doherty and Bechtel report to Alan Adams, Managing Director and Head of Community Banking at The PrivateBank.
"Over the last 18 months, The PrivateBank has doubled its footprint in the Chicago market and created a business group specifically focused on delivering its high-touch, relationship-focused brand of banking to the retail personal and business banking segment," Adams said. "Adding Tom and Rick to the Community Banking team allows us to strengthen our capabilities in two important segments. As the economy improves, we expect to capitalize on opportunities to deliver business and personal banking to the communities we serve around Chicago."
About PrivateBancorp, Inc.
PrivateBancorp, Inc., through its subsidiaries, 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 we serve. As of September 30, 2010, the Company had 34 offices in 10 states and $12.6 billion in assets. Our website is www.theprivatebank.com.
SOURCE PrivateBancorp, Inc.