The Private Bank

  www.theprivatebank.com
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The Private Bank Reviews

Updated May 27, 2014
Updated May 27, 2014
17 Reviews

3.2
17 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
(no image)
Larry Richman
10 Ratings

Employee Reviews

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  1.  

    I had a great time as an intern. Great people working there.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Loan Administration Specialist  in  Chicago, IL
    Former Employee - Loan Administration Specialist in Chicago, IL

    Pros

    The people there are top-notch, and the camaraderie at within the bank is the best I have seen.

    Cons

    Because their name is not totally out there, it can be difficult to find out about it.

    Advice to ManagementAdvice

    Become more loose with restrictions on your top people. Trust them to do what is best for the company more.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    It pays the bills.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Bloomfield Hills, MI
    Current Employee - Anonymous Employee in Bloomfield Hills, MI

    Pros

    Time off policy is great and I love knowing I will never have to work on the weekend or a holiday. You get your paycheck.

    Cons

    Not being in Chicago where the main offices are located, communication and training are poor. There is little to no room for advancement. Benefits are only so so.

    Neutral Outlook
    Approves of CEO
  3.  

    Nice place to work if you're a commercial relationship manager; less so if you work in the back office.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Managing Director  in  Chicago, IL
    Current Employee - Managing Director in Chicago, IL

    Pros

    Great work life balance. Bank is small enough that you have regular exposure to senior management.

    Cons

    Management plays favorites and discourages out of the box thinking. Lots of lip service paid to career development, but it's all about stock price. HR is a total joke.

    Advice to ManagementAdvice

    Consider more substantial investments in back office. Try rewarding others besides arrogant business bankers.

    Negative Outlook
    Disapproves of CEO
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  5.  

    Summer student internship with The Private Bank

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Good hourly pay for a summer intern, got a lot of responsibilities, worked on my own personal projects, met and networked with other interns, great resume builder

    Cons

    At times the projects were busy work involving data entry

  6.  

    They think they are a good bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Associate Managing Director  in  Chicago, IL
    Current Employee - Associate Managing Director in Chicago, IL

    Pros

    Nice office, pay is great

    Cons

    Management has no clue. Wealth Management group has never been profitable because management cant figure it out. The head of the wealth group only keeps her job because the old boys club needs to have a woman manager. Larry and his LaSalle crew thought they would come in and raise the stock price then cash out, but due to their poor management the stock is still around $15. Not sure why the shareholders allow this to continue.

    Advice to ManagementAdvice

    Resign

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    Good middle market bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL

    Pros

    Good career prospects, good exposure to management.

    Cons

    Culture and operations are stuck in the 90s

    Advice to ManagementAdvice

    Forget about La Salle.

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    You need to be there at the right place and the right time

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL

    Pros

    Compensation is getting better, fast paced environment, always challenges, Never bored. Family atmosphere at the branch offices.

    Cons

    I worked with a global consulting firm, brought in for an enterprise project, and the lead consultant told me that she had never been to a place that had "so many meetings". There are layers upon layers of management, Middle Management and Associates are not given tools to make decisions on the operations side. "The Process" is designed to insulate senior management.

    Advice to ManagementAdvice

    Cut the management fat. Senior Lenders who were moved to operational roles when the economy tanked need to revert back to ther old roles. Risk Managers brought in to appease shareholders and private capital during the banking crisis need to be pared down.

    No opinion of CEO
  9.  

    This place is fool of great people and a very professional environment.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Teller I  in  Chicago, IL
    Former Employee - Teller I in Chicago, IL

    Pros

    You can move up very quickly.

    Cons

    It is very demanding and long hours at times.

    Advice to ManagementAdvice

    Give employees more freedom to think of ways to change how the culture is within the company.

    Recommends
    Approves of CEO
  10.  

    Poor management, resistant to change, lack of proper resources, and bad overall employee morale

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL

    Pros

    Compensation was decent and the competitive nature made for an exciting place to work initially. My boss was generous with time off and I was able to gain exposure to some underwriting and credit training.

    Cons

    My boss created hostility within other departments by sticking his nose in their business and trying to make their problems his own. We were assigned special projects that never were finished and received little to no direction while in process, and then were criticized when they weren't done the way he wanted. Was micromanaged on a regular basis and had to track all of our activities in meaningless spreadsheet that was merely glanced at whenever my boss decided he had time to kill.

    Advice to ManagementAdvice

    Stop hiring outside kids who are fresh out of college as Credit Analysts and begin to promote your existing employees who wish to better themselves. Also, there is a poor amount of regulation and policies within the bank. Compliance and Internal Audit are important departments to any organization, but are disregarded and treated as second class citizens at this bank.

    Doesn't Recommend
    Disapproves of CEO
  11.  

    Could be worse--but then, it could be a lot better, too.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Retail  in  Detroit, MI
    Current Employee - Retail in Detroit, MI

    Pros

    Great hours, good health insurance, 401(k) matching. It is satisfying to provide a personal banking experience when that service has largely died out in today's banks.

    Cons

    The management is not very accommodating with time off, even when one has vacation days available for use. The work is very repetitive and not particularly challenging.

    Advice to ManagementAdvice

    Rather than continue to try to run the front of the house operations critically short-staffed, perhaps hire someone from a temp. agency to cover the bases while long-term logistics of the branch offices are decided.

    Doesn't Recommend
    No opinion of CEO

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