The PrivateBank announced it has formed a new specialty group focused on technology companies and their venture capital investors and has hired industry veterans John Hoesley and Josh Roberts to drive this important industry vertical. Hoesley and Roberts will focus on companies throughout the Midwest, particularly technology companies in the bank's hometown Chicago market.

Hoesley is named Managing Director and will lead the new group. He joined The PrivateBank from Silicon Valley Bank, where he was managing director and Midwest market manager. He has a strong and diverse base of experience, with a 20-year career in technology, venture capital and finance and banking. He has a bachelor of science degree in engineering from the University of Illinois and a master's of management from the J.L. Kellogg Graduate School of Management.

Roberts, also named Managing Director, joined The PrivateBank from RBC Capital Markets, where he was vice president of technology investment banking. He has specialized expertise in working with clients in technology verticals such as software and systems, communications technology and financial technology. Roberts earned a bachelor's degree in finance from the University of Illinois and an MBA from the University of Chicago.

"We are pleased to add a team with a deep understanding of the unique financial and treasury needs of technology companies as we expand our ability to build long-term relationships with clients in this industry," said Larry D. Richman, President and Chief Executive Officer, The PrivateBank. "The technology industry is becoming an increasingly important part of Chicago's economy and we believe we will fill the need for a locally based bank that brings specialized knowledge to a growing industry segment."

The PrivateBank is a part of PrivateBancorp, Inc., and delivers customized business and personal financial services to middle-market companies, as well as business owners, executives, entrepreneurs and families in all of the markets and communities it serves. As of September 30, 2014, the company had 34 offices in 10 states and $15.2 billion in assets.