SunTrust Explores Strategic Options for Portions of Institutional Investment Management Business

ATLANTA, April 12 /PRNewswire-FirstCall/ -- SunTrust Banks, Inc. (NYSE: STI) today announced it is reviewing strategic options for portions of its institutional investment management business, a move consistent with the Company's ongoing strategy of managing its business mix to maximize client satisfaction and shareholder value.

As part of that review, the Company confirms it is in discussions to potentially sell portions of its RidgeWorth Investments subsidiary.  SunTrust emphasized, however, that the process is ongoing, there is no certainty a transaction will be consummated, and the effect of any potential sale on the Company's financial results would not be significant.

RidgeWorth and its boutiques collectively manage $63.1 billion in assets.  As of December 31, 2009, SunTrust had more than $205 billion in assets under advisement.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients.  As of December 31, 2009, SunTrust had total assets of $174.2 billion and total deposits of $121.9 billion.  The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels.  The Company also serves clients in selected markets nationally.  Its primary businesses include deposit, credit, trust and investment services.  Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and capital markets services.  SunTrust's Internet address is suntrust.com.

SOURCE SunTrust Banks, Inc.