CHICAGO, Feb. 28, 2012 /PRNewswire/ -- PrivateBancorp, Inc. (NASDAQ: PVTB) today announced that Brant Ahrens has been named President of Personal Client Services, a new line of business combining the Company's services to individuals and families under one unit.
Ahrens will assume responsibility for Private Wealth services, which includes trust, investment management, and private banking, and will continue to lead the Community Banking group, composed of retail, small business and mortgage banking. Personal Client Services joins Illinois Commercial Banking, National Commercial Banking and Commercial Real Estate in forming the Company's organizational foundation.
"Over the last four years, we have worked hard and have successfully established The PrivateBank as a premier commercial middle market bank," said Larry D. Richman, President and Chief Executive Officer, PrivateBancorp, Inc. "During that time, we also have strengthened our capabilities in serving the banking and wealth management needs of individuals and families in our markets. We will better serve the personal needs of the business owners, executives and employees of our commercial clients by leveraging the combined strengths of our Personal Client Services team."Ahrens joined PrivateBancorp in 2007 and was part of the leadership team working to transform The PrivateBank into a commercial middle market-focused institution. Prior to The PrivateBank, Ahrens spent 15 years with LaSalle Bank and its parent company, ABN-AMRO, in a variety of roles. He holds a bachelor's degree in finance from the University of Illinois Urbana-Champaign. He is a member of the Board of Directors of the Illinois Bankers Association, the Brain Research Foundation's Associate Board and the Rehabilitation Institute of Chicago Tree of Life Board. 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 December 31, 2011, the Company had 34 offices in 10 states and $12.4 billion in assets. Our website is www.theprivatebank.com. SOURCE PrivateBancorp, Inc.