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.
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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.

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