Chicago-based PrivateBancorp Inc. named Thomas Doherty as its managing director and head of business banking, making a key hire in its community banking unit.
Doherty joins PrivateBank from First Chicago Bank, where he was group manager for business and retail banking. Before that, he was group senior vice president for business banking at LaSalle Bank.
Doherty will lead the bank’s focus on businesses with up to $10 million in annual revenue in the Chicago area.
He reports to Alan Adams, managing director and head of community banking at PrivateBank.
“Over the last 18 months, the PrivateBank has doubled its footprint in the Chicago market and created a business group specifically focused on delivering its high-touch, relationship-focused brand of banking to the retail personal and business banking segment,” Adams said in a statement. “As the economy improves, we expect to capitalize on opportunities to deliver business and personal banking to the communities we serve around Chicago.”
PrivateBancorp Inc. has 34 offices in 10 states and $12.6 billion in assets.
The Tribune reported on PrivateBank’s community banking initiative last May.
