River Forester Ralph Mandell, executive chairman of PrivateBancorp Inc., plans to retire next year, according to a report in Crain’s Chicago Business. Mandell, 69, co-founded the company in 1989. Private Bank specialized in commercial real estate lending and went public in 1999 as it expanded to other cities outside of Chicago, such as St. Louis and Atlanta. At the company’s 2011 annual meeting, reportedly, he will step down and assume the title of founder and chairman emeritus.