CHICAGO–(BUSINESS WIRE)–MB Financial Bank recently completed its acquisition of the Illinois court-appointed guardianship and special needs trust business of JPMorgan Chase, according to Mitchell Feiger, president and CEO of MB Financial, Inc. (NASDAQ: MBFI), parent of MB Financial Bank, N.A. Terms of the deal were not announced. The acquisition added approximately $200 million of assets under management to MB Financial Bank’s existing guardianship business. Approximately five years ago, MB completed its acquisition of the Illinois guardianship and special needs trust business of U.S. Trust, Bank of America Private Wealth Management.
“MB has established an expertise and commitment to the guardianship and special needs trust business. This purchase represents a significant increase to our current portfolio, and further solidifies our strong position in this important market. We are confident that clients’ needs will be well served at MB through access to an experienced team dedicated to this customized, proactive service,” says Mitchell Feiger.
The Illinois guardianship and special needs trust business is headed by Alan Teraji, senior vice president, personal trust and guardianship group. His team will expand with the addition of Kim Bahna, Josie Sanchez and Sharon Franta, formerly of JPMorgan Chase.
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About MB Financial Bank
MB Financial Bank N.A. is a Chicago-based commercial bank with approximately $15 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals. MB Financial Bank offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success. MB Financial Bank is a wholly-owned subsidiary of MB Financial, Inc. (NASDAQ: MBFI).
Learn more about MB Financial Bank at www.mbfinancial.com.
MB Financial Bank
Karen A. Perlman
Senior Vice President