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Northern Trust regains wealth executive from rival

Northern Trust has snagged a wealth management executive from U.S. Trust to serve as market leader of Sarasota and Manatee counties in Florida.

Paul Hudson will be responsible for business development strategy and client servicing activity to high-net-worth individuals in the region. He will oversee more than 80 investment, trust and banking professionals, Northern Trust said.

Hudson replaces Phil Delaney who was promoted to vice chairman for the state of Florida. He will report directly to Charlie Mueller, Northern Trust president of the West Florida region, while working closely with regional executives.

Hudson was previously the managing director for U.S. Trust in Sarasota, a role he held for five years.

The executive is not new to Northern Trust as he worked for the bank as a wealth strategist for more than 16 years prior to joining U.S. Trust in May 2012.

"We are delighted Paul is returning to Northern Trust," Mueller said in a statement. "Paul will enable an integrated business approach that will strengthen the holistic advice we provide our clients."

The wealth management business of Northern Trust has $284 billion in assets under management and a wide network of wealth management offices across the U.S, according to Northern Trust.

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