In her new role Ms Hodgson assumes responsibility for overseeing all of Northern Trust’s wealth management clients serviced in the region and reports to Aïda Molineux, head of Northern Trust’s EMEA wealth management group.

Ms Hodgson has been with Northern Trust since 1995, when she joined the bank as a portfolio manager. She has held a number of client servicing leadership positions and was most recently director of client servicing Northern Trust Global Investments, the bank’s asset management arm.

“Her client service experience and knowledge of Northern Trust, as well as her extensive investment expertise, are invaluable assets to the wealth management group. We continue to look for innovative ways to help our clients, particularly as they face challenging market conditions, and have implemented a number of changes in the structure of our business – such as introducing new positions, like Lesley’s, which will enable us to continue to deliver the highest possible standards of client service and expertise,” said Ms Molineux.

Northern Trust reported $314 million net income for the second quarter of 2009, up from $215 million in the same period a year before. Second-quarter revenues were $1.05 billion, a drop of 4 per cent year-on-year.

The bank also announced that its chairman William Osborn will step down on 11 November. Mr Osborn, who has been chairman for 14 years, will be succeeded by Northern Trust’s chief executive and president Frederick Waddell.