PrivateBancorp Names John Heiberger Chief Strategy Officer

CHICAGO, Sept. 10, 2012 /PRNewswire/ -- PrivateBancorp, Inc. (NASDAQ: PVTB) today announced that John Heiberger is named Chief Strategy Officer, overseeing the development and implementation of strategic initiatives across the organization.

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Heiberger replaces Brant Ahrens, who recently was named President, Personal Client Services, for The PrivateBank. He will report to President and Chief Executive Officer Larry D. Richman and will work with the Company's Operating Committee to advance its strategic objectives.

After 14 years at LaSalle Bank, Heiberger joined The PrivateBank as Managing Director, Commercial Real Estate in 2007. In 2009, he was tapped to oversee the integration of a community bank giving The PrivateBank a retail presence in Chicago. Most recently, he led activities focused on improving the bank's overall credit quality.

"We have a clearly defined strategy to build a leading commercial middle market bank," Richman said. "Our focus continues to be business development with new and existing clients and improving overall credit quality. John's unique perspective gained while leading teams in commercial, retail and credit will be valuable as we identify and execute initiatives in support of our strategic priorities and create shareholder value."

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 June 30, 2012, the company had 34 offices in nine states and $12.9 billion in assets.  The company's website is www.theprivatebank.com.

SOURCE PrivateBancorp, Inc.

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