CHICAGO, July 25 /PRNewswire-FirstCall/ -- Frank C. Schell III, 58, has joined The PrivateBank and Trust Company, Chicago, a unit of PrivateBancorp, Inc., (Nasdaq: PVTB) as a Managing Director in the Bank's Gold Coast office. He was previously President & CEO of Chicago Commons Association, a non-profit social services agency.

Mr. Schell brings over 30 years of banking and financial management experience to the Bank. Upon graduation from college, Mr. Schell joined the United States Peace Corps and served in India. He entered the banking industry in 1972 with the former Continental Illinois National Bank & Trust Company of Chicago (now Bank of America), serving in domestic and international corporate banking, which included a two-year assignment in Nairobi, Kenya. In 1978, he joined Ford Aerospace & Communications Corporation, a wholly owned subsidiary of Ford Motor Company, as Assistant Treasurer. In 1981, he joined The First National Bank of Chicago (now JP Morgan Chase & Co.), where he was most recently a Senior Vice President in corporate banking, with experience in relationship and product management, including real estate, mortgage banking, international trade and treasury services, and postings to London and Sao Paulo, Brazil. He was elected President & CEO of Chicago Commons Association, in 2002.

Mr. Schell received his B.A. from Stanford University and his MBA from the University of Chicago.

Active in a variety of civic, business and charitable affairs, he has served on the board of directors of the Bankers Association for Finance and Trade, National Foreign Trade Council, Chicago Commons Association, and Music of the Baroque.

He is married and a resident of the Gold Coast.

PrivateBancorp, Inc. was organized in 1989 to provide highly personalized financial services primarily to affluent individuals, professional, owners of closely-held businesses and commercial real estate investors. The Company uses a European tradition of "private banking" as a model to develop lifetime relationships with its clients. Utilizing a team of highly qualified managing directors, The PrivateBank tailors products and services to meet each client's needs in personal and commercial banking services and wealth management services. The Company, which has assets of $3.2 billion as of June 30, 2005, currently has banking offices in downtown Chicago, Chicago's Gold Coast, Wilmette, Oak Brook, St. Charles, Lake Forest, Winnetka, and Geneva, Illinois; in Bloomfield Hills, Rochester and Grosse Pointe, Michigan; in St. Louis, Missouri; and in Milwaukee, Wisconsin.

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

SOURCE  The PrivateBank and Trust Company
    -0-                             07/25/2005
    /CONTACT:  David C. Neilson of The PrivateBank and Trust Company,
+1-312-238-8500/
    /Web site:  http://www.pvtb.com /
    (PVTB)

CO:  The PrivateBank and Trust Company; PrivateBancorp, Inc.
ST:  Illinois
IN:  FIN MFD
SU:  PER

MK
-- NYM065 --
6934 07/25/200508:25 EDThttp://www.prnewswire.com