PrivateBancorp, an Illinois-based diversified financial services company, has created an asset-based lending team within The PrivateBank to meet the financing needs of middle market commercial clients.
Reportedly, co-leading the asset-based lending initiative for The PrivateBank are Bob Corsentino and Bruce Denby as managing directors. Mr. Corsentino and Mr. Denby worked together for 25 years at LaSalle Bank before its acquisition by Bank of America, and separately led credit, sales, and underwriting on a national basis.
Mr. Corsentino recently served as national portfolio manager for Bank of America’s business finance division. Mr. Denby most recently led Bank of America’s national asset-based lending team for the business finance division.
Additionally, Doug Colletti and Mitch Rasky were named managing directors, asset-based lending for The PrivateBank. They join Susan Lanz Hamilton, a 14-year asset-based lending professional who joined The PrivateBank in June 2008 and helped build the bank’s existing asset-based lending capabilities.
Larry Richman, president and CEO, PrivateBancorp, said: We are extremely fortunate to be gaining a team with the level of experience and insight in developing, growing and servicing asset-based lending relationships. We continue to be an active lender to quality clients and extending our capabilities in the area of asset-based lending provides another important option to middle-market companies as they consider their financing needs, particularly in challenging economic times.”
