PrivateBancorp, Inc. was a bank holding company headquartered in Chicago, Illinois. Through its principal banking subsidiary, The PrivateBank and Trust Company, it provided commercial banking, private banking and wealth management services to businesses, professionals, executives and high-net-worth individuals.
The company offered deposit accounts, commercial and real estate lending, treasury management, investment management and trust services. Its commercial banking activities included financing for middle-market companies, commercial real estate developers and investors, while its private banking business served clients with customized lending, deposit and financial planning needs.
PrivateBancorp operated primarily in the Midwest and other selected U.S. markets, including Illinois and neighboring states, through a network of banking offices. Larry D. Richman served as the company’s president and chief executive officer during its later years. In 2017, PrivateBancorp was acquired by Canadian Imperial Bank of Commerce (CIBC), and PrivateBancorp’s former operations became part of CIBC’s U.S. banking platform.
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