The executive who has been running Northern Trust Corp.'s highly successful Florida unit has been freed of those duties to concentrate on expanding the $21 billion-asset banking company's private banking business in Arizona, California, Florida, and Texas.

Mark Stevens, 49, has been the Chicago-based company's executive vice president in charge of personal financial services since January. But until last week, he also was running Northern Trust of Florida Corp., a $1.95 billion-asset subsidiary that on a percentage basis outperformed its parent.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.