We are pleased to announce that CIBC has completed its acquisition of PrivateBancorp, Inc. and its subsidiary, The PrivateBank. Headquartered in Chicago, The PrivateBank is a high-quality, middle-market commercial bank. We expect this acquisition to benefit our clients by offering additional access to a full range of private banking, deposit and lending services.
As always, our clients will continue to benefit from the boutique, client-first service that our firm has provided to affluent individuals and families for the past 90+ years (through legacy firms). Our professionals remain dedicated to delivering the highest-quality client experience, with a strong commitment to our fiduciary duty to act in our clients’ best interests and to provide an integrated approach to investments and wealth strategies.
And now, we look forward to working with our new colleagues at The PrivateBank to offer solutions that will strengthen our ability to serve clients’ financial needs. Importantly, this acquisition also shows the ongoing support our business receives from CIBC, which recently celebrated its 150th anniversary and was recognized in 2016 as one of the top 10 safest banks in North America by Global Finance magazine.1
If you would like to learn more about The PrivateBank, I invite you to visit www.theprivatebank.com . Also, please know that I am personally available to answer any questions or simply to talk. We deeply appreciate your relationship with CIBC Atlantic Trust.
Jack Markwalter is chairman and chief executive officer of CIBC Atlantic Trust Private Wealth Management, holding these positions since January 2004. In addition, he serves on the CIBC Operating Committee as a member of CIBC’s executive leadership team.
1CIBC placed 8 of 10 banks ranked in Global Finance magazine’s “Safest Banks in North America” list, published September 29, 2016. Banks were selected through an evaluation of long-term foreign currency ratings—from Moody’s, Standard & Poor’s and Fitch—and total assets of the 500 largest banks worldwide.