Sun Trust Reportedly Trying to Sell Asset Management Biz

January 4, 2010 ( - SunTrust Banks Inc is trying to sell its multi-boutique asset management business, people familiar with the matter said on Monday, according to Reuters.

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.