ITASCA, IL--(Marketwire -04/16/12)- First Midwest Bank today announced that it has formed a new Wealth Management Division as part of the bank's strategic organizational realignment. Leading the newly formed Wealth Management Division will be Robert P. Diedrich, a thirty-two year veteran of First Midwest, who previously headed the bank's trust division. The new division will provide fiduciary, investment and private banking services to individual, corporate and governmental clients throughout the communities and diverse markets served by First Midwest.
First Midwest, through its Wealth Management Division, manages more than $5 billion in clients' assets making it the fourth largest bank operated trust business in Illinois. Its primary objective is to manage, grow and preserve the wealth of all clients.
"Our new Wealth Management Division draws together trust, retail investment and private banking into one unit that will enable us to broaden our existing client relationships while at the same time enhancing our ability to attract new clients and grow this important segment of our business," stated Mark Sander, President and Chief Operating Officer of First Midwest Bank. Adding, "We have an advantage over many other types of financial institutions and providers of these services as we have conducted this business in our communities for decades and have built strong client relationships and we are well known and trusted."
About First Midwest
First Midwest Bank, the wholly owned subsidiary of Itasca-based First Midwest Bancorp, Inc. (NASDAQ: FMBI - News) is the premier relationship-based banking franchise in the dynamic Chicagoland banking market with approximately $8.0 billion in assets. As one of the Chicago metropolitan area's largest independent bank holding companies, First Midwest provides the full range of commercial, retail banking and wealth management services through some 100 offices located in communities in metropolitan Chicago, northwest Indiana, central and western Illinois and eastern Iowa. First Midwest has been recognized by the Chicago Tribune for two straight years as one the top 20 best places to work in Chicago among large employers.
- First Midwest Bank