PrivateBancorp Inc. today announced some shuffling of its management team, including the hiring of Norman Bobins, the former chairman, chief executive officer and president of LaSalle Bank.

Bobins is the new chairman of The PrivateBank-Chicago and has been added to the PrivateBancorp board of directors.

With the addition, the company also announced that John B. (Jay) Williams and Richard Jensen, two inside directors, are stepping down from the PrivateBancorp board. Williams is chief operating officer for PrivateBancorp and remains chairman of the board for The PrivateBank-Milwaukee. Jensen remains chairman and CEO of The PrivateBank-St. Louis.

"Norm and I have known each other for many years and I consider him a trusted advisor and friend," said Larry Richman, president and CEO of PrivateBancorp and current chairman of The PrivateBank-Chicago. "I am honored that he has accepted my invitation to become chairman of The PrivateBank-Chicago in addition to his seat on the holding company board. Our clients, our communities, our company and our stockholders will benefit from his knowledge, insight and experience."

Bobins' career spans more than 40 years. He retired from LaSalle Bank in 2007. Bobins maintains an active role in the civic and philanthropic communities. He is a member of the Board of Education of the City of Chicago, where he was re-appointed in June 2006 to a fourth four-year term. He is chairman of the Board of Trustees of WTTW Communications, Inc. and on the boards of The Field Museum, The Art Institute of Chicago, The Newberry Library, and Spertus College. His corporate involvement includes the boards of directors of Global Hyatt Corp., AAR Corp., Nicor Inc., Sims Metal Management and RREEF America REIT II Inc. He is also non-executive chairman of the board of Transco, Inc.

"Over the last several months since PrivateBancorp launched its Strategic Growth Plan, I have been extremely impressed by the success Larry and the entire team have achieved," Bobins said. "I am privileged to have been asked to play such an important role in continuing to build this company and to deliver exceptional service to Chicago's middle-market business community. I have known and respected chairman Ralph Mandell for many years, and I look forward to contributing to PrivateBancorp's strategic direction and continued success."