Bank of the West adds to Chicago PE team

The bank is adding headcount in Chicago as it ends its second year there

Bank of the West has hired Phil Kain for its Chicago-based private equity group.

Kain joins the firm from Fifth Third Bank, where he led teams in the structured finance group focused on deal origination. In this role, Kain will serve as director of the private equity group focused on middle market private equity.

Bank of the West specializes in the development of leveraged finance loans for middle market private equity sponsors. The bank opened its Chicago office almost two years ago.

Bank of the West’s private equity group is led by John Thurston and offers lending, capital markets, cash management, trade financing, and international services to private equity companies in the US.

This is the second Fifth Third structured finance alum to join Bank of the West in as many weeks. In November, the bank hired Diane Marshall – also in Chicago – to the commercial banking group. Marshall will be responsible for new business development, due diligence, underwriting, and structuring middle market transactions.