Kristine Garrett has been appointed the new managing director and head of private banking at the Chicago-headquartered PrivateBancorp.

Ms Garrett was previously at JP Morgan Chase as national banking practice leader responsible for private wealth sales management of credit and deposit products.

Last week, the company appointed Daniel Pehrson chef executive of its Michigan region. He replaced Patrick McQueen, who will remain with the company in an advisory role.

PrivateBancorp has 23 offices in nine US states and more than $10.4 billion in assets, as at end-March 2009.