The PrivateBank


John Mathy, Managing Director – Chicago Downtown
Schuyler Vaughan, Managing Director – Community Lending
Brian O’Connor, Managing Director – Chicago South
Michael Spies, Managing Director – Chicago North
Joe Magnelli, Managing Director – Chicago West

The PrivateBank

The mortgage experts at The PrivateBank bring deep knowledge and dedication to client satisfaction in every transaction. Joe Magnelli, John Mathy, Brian O’Connor, Michael Spies, and Schuyler Vaughan are part of a team of mortgage loan officers dedicated to those looking to purchase or refinance homes. Their extensive know-how serves homebuyers and owners, as well as industry newcomers they mentor as leaders at The PrivateBank.

Magnelli realized almost instantly that a career in loan origination was for him. “Not only can I control my own destiny, but I can also play a pivotal role in the most important – and rewarding – purchase people make,” he explains. Magnelli’s parents, who emigrated from Europe with little money and limited English, were there for him as he earned a finance degree from DePaul University, and they continue to inspire him. “They’ve accomplished so much thanks to hard work, honesty, and integrity, and I try to exhibit the same qualities in my profession.”

Now celebrating his fifth year at The PrivateBank, Mathy specializes in supporting luxury purchasers in Chicago and the North Shore, as well as clients buying second homes nationwide. “I’m a firm believer in making certain there are no surprises in the process, so I always establish expectations at the outset,” he says. He earned his degree in finance and economics before beginning his career in the early 1990s. While the industry has changed over the last 25 years, his dedication to helping clients make informed choices is unwavering.

O’Connor describes The PrivateBank team as relationship-driven. “Our experience allows us to treat each client with the kind of professionalism and respect they deserve, and that makes a difference in how they view The PrivateBank’s expertise,” he says. Perhaps even more critical to the company’s success, though, is the collegiality among the mortgage team members. “Our culture fosters collaboration, and that kind of environment is fantastic when the people you work with are dynamic and passionate,” O’Connor says.

Spies agrees. “We have a keen understanding of the best products and the best solutions for our clients, because we possess the experience, attention to detail, and passion any outstanding loan originator should exemplify,” he says. Spies transitioned to mortgage lending after a career leasing business machinery. One challenge he frequently helps buyers with is making an offer that is not based on the sale of a departing residence: he structures bridge loan options and portfolio loan solutions, allowing them to acquire equity from the departing residence while qualifying with a higher debt-to-income ratio. “That sets The PrivateBank apart from other lenders,” he says.

Vaughan oversees The PrivateBank’s national Community Lending Group, whose goal is to expand the company’s service to diverse and underserved markets. Vaughan explains that communication is critical when dealing with all borrowers, but especially first-time homebuyers. “Being able to communicate expectations, good or bad, and deliver upon them as promised, is something our clients should – and do – expect from us,” he said. Vaughan and his team partner with community organizations to provide education and information to new borrowers. “I’m inspired observing my clients achieve their financial goals and homeownership.”


Thanks to The Residences at New City for letting us use their beautiful location for our photo shoots.

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