Kevin Van Solkema Joins PrivateBancorp, Inc. as Chief Risk Officer

CHICAGO, March 31 /PRNewswire-FirstCall/ -- Kevin Van Solkema has joined PrivateBancorp, Inc. NASDAQ: PVTB as chief risk officer responsible for overall risk management encompassing credit, operational and enterprise risk and loan review, it was announced today. He was also named a managing director and chief risk officer of The PrivateBank-Chicago, a unit of PrivateBancorp, as well as a member of the executive management committee.

Previously, Van Solkema served as deputy chief credit officer for LaSalle Bank N.A., Chicago.

"We are pleased that Kevin has joined our team. He is a very seasoned professional who will contribute greatly as we continue our growth of middle market commercial relationships," said Larry D. Richman, President and Chief Executive Officer of PrivateBancorp, Inc. and The PrivateBank-Chicago.

Prior to his tenure as deputy chief credit officer for LaSalle Bank, Van Solkema served as head of consumer risk management for the North American business unit at ABN AMRO/LaSalle Bank, where his responsibilities encompassed credit and operational risk management activities for ABN AMRO Mortgage Group and LaSalle Bank's consumer lending and portfolio mortgage units. Previously, Van Solkema managed LaSalle Bank Midwest's commercial loan workout group. Van Solkema began his career in 1983 at Michigan National Bank, rising to head of risk management at that institution.

Van Solkema holds an MBA in finance from Michigan State University, East Lansing, MI and a BBA degree in accounting from Grand Valley State University, Allendale, MI.

About PrivateBancorp, Inc.

PrivateBancorp, Inc., through its PrivateBank subsidiaries, provides distinctive, highly personalized, premium 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 European tradition of "private banking" as a model to develop lifetime relationships with its clients. Through a team of highly qualified managing directors, The PrivateBank delivers a sophisticated suite of tailored credit, treasury and wealth management solutions to meet its client's personal and commercial financial needs. The Company, which had assets of $5.0 billion as of December 31, 2007, has 20 offices located in the Atlanta, Chicago, Cleveland, Detroit, Milwaukee, Minneapolis, St. Louis, and Kansas City metropolitan areas.

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