Chicago's PrivateBancorp Continues Fundraising

June 2008 | Corporate Financing News Alert

On June 5, PrivateBancorp, a Chicago-based financial services company, announced that it would sell 4mn shares at US$34 per share in a continued effort to raise funds for the bank's strategic growth plan. As Amy Yuhn, Director of Communications, told CFW, the growth plan was implemented after LaSalle Bank was acquired by Bank of America which left PrivateBancorp with an opportunity to diversify its products and expand its client base. This opportunity was recognised by the bank's founder Ralph Mandell, and the bank's shareholders have approved numerous proposals integral to the plan. The plan included the recruitment of 150 new

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