The PrivateBank, a Chicago-based financial-services company, has created a specialty group that will focus on technology companies in the Midwest and Chicago and their venture capital investors, the company announced Wednesday.
The company hired industry veterans John Hoesley and Josh Roberts as managing directors. Hoesley, who will lead the new group, formerly worked as managing director and Midwest market manager at Silicon Valley Bank. Roberts previously served as VP of technology investment banking at RBC Capital Markets.
“I’m ecstatic about it,” Hoesley said. “It’s incredibly gratifying to see that the scene has grown up to the point where an endeavor like this is almost certainly going to be a success.”
Hoesley said the technology group will initially emphasize business-to-business software companies but also will consider companies that focus on consumers.
“My goal is really to build the leading technology banking practice in the Midwest,” he said.
The PrivateBank, a unit of PrivateBancorp, boasts more than 30 offices in 10 states and more than $15 billion in assets.