BLOOMFIELD HILLS, Mich., May 6 /PRNewswire/ -- Robert M. Burch, has been named president of The Private Bank - Michigan, a unit of PrivateBancorp Inc. (Nasdaq: PVTB), it was announced today.

Burch, who was vice chairman, succeeds Patrick M. McQueen, who was named chairman and chief executive officer of The PrivateBank - Michigan in March of this year.

"We are very pleased to have Bob in this leadership role as we continue to grow our client relationships in the greater metropolitan Detroit community. Bob is a veteran banker whose experience and insight will continue to reinforce our commitment to high quality, high-touch client service. I look forward to working with Bob and Pat McQueen and our entire Michigan team to deliver The PrivateBank's unique, client-focused model of relationship banking," said Larry D. Richman, president and chief executive officer, PrivateBancorp, Inc.

Burch co-founded and served as vice chairman of The Bank of Bloomfield Hills in 1989, which was merged into The PrivateBank - Michigan in 2005. Previously he served 25 years in various management positions with The Bank of Commonwealth and its successor by merger, Comerica Bank. Burch received his bachelor's of science degree from John Carroll University, Cleveland, OH. He is also a graduate of the Graduate School of Banking at University of Wisconsin, Madison.

Burch has been a longtime resident of the Birmingham/Bloomfield Hills area. He and his wife have two grown children and three grandchildren.

About PrivateBancorp, Inc.

PrivateBancorp, Inc., through its PrivateBank subsidiaries, provides distinctive, highly personalized financial services to a growing array of successful middle market privately held and public businesses, affluent individuals, wealthy families, professionals, entrepreneurs and real estate investors. The PrivateBank uses a banking model to develop lifetime relationships with its clients. Through a growing team of highly qualified managing directors, The PrivateBank delivers a sophisticated suite of tailored credit and non-credit solutions, including lending, treasury management, investment products, capital markets products and wealth management and trust services, to meet its clients' commercial and personal needs. The Company, which had assets of $6.0 billion as of March 31, 2008, has 22 offices located in the Atlanta, Chicago, Cleveland, Denver, Des Moines, Detroit, Kansas City, Milwaukee, Minneapolis, and St. Louis metropolitan areas.

Additional information can be found in the Investor Relations section of PrivateBancorp, Inc.'s website at http://www.pvtb.com.

Forward-Looking Statements: Statements contained in this news release that are not historical facts may constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. The Company's ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations and future prospects of the Company include, but are not limited to, fluctuations in market rates of interest and loan and deposit pricing in the Company's market areas, the effect of continued margin pressure on the Company's earnings, further deterioration in asset quality, insufficient liquidity/funding sources or the inability to obtain on terms acceptable to the Company the funding necessary to fund its loan growth, legislative or regulatory changes, adverse developments in the Company's loan or investment portfolios, slower than anticipated growth of the Company's business or unanticipated business declines, competition, unforeseen difficulties in integrating new hires, failure to improve operating efficiencies through expense controls, and the possible dilutive effect of potential acquisitions, expansion or future capital raises. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company assumes no obligation to update publicly any of these statements in light of future events unless required under the federal securities laws.

SOURCE The PrivateBank - Michigan