Deals & People January 4, 2010

SunTrust Reportedly Trying to Sell Asset Management Biz

SunTrust Banks Inc. is trying to sell RidgeWorth Investments, its multi-boutique asset management business, people familiar with the matter said on Monday, according to Reuters.

Reported by

PLANADVISER staff

The sources report that SunTrust is being advised by investment bank Sandler O’Neill on a potential sale of RidgeWorth, which owns interests in eight investment boutiques.

SunTrust and Sandler O’Neill declined to comment, Reuters said.