One of Canada's Biggest Banks Is Buying Chicago's PrivateBancorp

CIBC has announced that it has entered into a definitive agreement to acquire PrivateBancorp, Inc.  and its subsidiary, The PrivateBank, a high-quality Chicago-based middle market commercial bank with US$17.7 billion in assets, complemented by private banking and wealth management capabilities. The transaction will significantly expand CIBC's reach in North America,…