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Administration January 4, 2010
Sun Trust Reportedly Trying to Sell Asset Management Biz
January 4, 2010 (PLANSPONSOR.com) - SunTrust Banks Inc is trying to sell its multi-boutique asset management business, people familiar with the matter said on Monday, according to Reuters.
Reported by PLANSPONSOR staff
The sources report that SunTrust is being advised by investment bank Sandler O’Neill on a potential sale of RidgeWorth Investments, which owns interests in eight investment boutiques.
SunTrust and Sandler O’Neill declined to comment, Reuters said.