Business Services Industry
PrivateBank identifies new targets.(Annual Meetings)(Brief article)
Crain's Chicago Business, May, 2007 by Murphy, H. Lee
Byline: H. Lee Murphy With its first expansion outside the Midwest in the past year, PrivateBancorp Inc. now has a big goal: take its wealth-management formula national. Chicago-based PrivateBank, which earlier branched into Milwaukee, St. Louis and Detroit, last year opened its first branch in Kansas City, Mo., and then acquired Piedmont Bancshares Inc.
in Atlanta for $21 million in cash and stock. At the April 25 annual meeting, CEO Ralph Mandell said the company was eyeing markets from Florida to Arizona for expansion. "We've identified cities like Houston and Dallas and Washington, D.C., that are interesting to us,'' he said. He added that he expects to enter at least one or two new metropolitan markets each year, through both acquisition and...
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