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Federated To Acquire $17 Billion In Money-Market Assets From SunTrust

DOW JONES NEWSWIRES Federated Investors Inc. (FII) agreed to acquire $17 billion in money market assets from SunTrust Banks Inc. (STI) as the regional bank completed a review of what to do with the operation. Atlanta-based SunTrust has seen losses narrow recently as credit trends have improved. It serves an area that was hit especially hard by the real estate crash. Its wealth and investment management business saw latest-quarter earnings double. Federated, a Pittsburge-based asset manager, has been moving to diversify amid expected tightening in money-market fund regulation. Under the deal, SunTrust will transfer turn over assets in nine money-market funds managed by its Ridgeworth Capital Management business to six Federated funds with similar investment objectives. Certain assets SunTrust maintains in collective and common funds will also be transferred. The series of transactions, subject to consent processes and approvals, is expected to close by year end. SunTrust will retain Ridgeworth's long-term asset-management business. RidgeWorth and affiliated businesses had $65.1 billion in assets as of March 31. Federated managed nearly $350 billion. SunTrust shares were down 2.1% in light premarket trading to $24.65, in line with other large banks, while Federated was inactive. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240, matthew.jarzemsky@dowjones.com

Stock News for Federated Investor (FII)
DateTimeHeadline
08/17/201511:13:00Month-End Portfolio Data Now Available for Federated Investors...
08/14/201516:02:00Board of Trustees of Federated Enhanced Treasury Income Fund...
08/12/201516:02:33Form 13f Holdings Report (13f-hr)
08/11/201508:45:00Federated Enhanced Treasury Income Fund Declares Monthly Distribution
08/10/201508:45:00Federated Investors' Closed-End Municipal Funds Declare Monthly...
08/04/201516:36:27Statement of Changes in Beneficial Ownership (4)
08/04/201516:26:46Statement of Changes in Beneficial Ownership (4)
08/04/201516:06:16Statement of Changes in Beneficial Ownership (4)
07/31/201516:01:50Statement of Changes in Beneficial Ownership (4)
07/31/201508:45:00Federated Enhanced Treasury Income Fund Announces Estimated Sources...
07/30/201516:15:27Initial Statement of Beneficial Ownership (3)
07/30/201508:45:00Federated Enhanced Treasury Income Fund Reports Semi-Annual Earnings
07/30/201508:45:00Federated Investors' Closed-End Municipal Funds Report Semi-Annual...
07/28/201516:01:00Federated Investors, Inc. Completes Transition of Shareholder...
07/27/201508:45:00Federated Investors, Inc. Names New Chief Compliance Officer
07/24/201516:05:05Quarterly Report (10-q)
07/24/201516:02:00Federated Investment Management Company Recommends Converting...
07/24/201506:02:40Current Report Filing (8-k)
07/23/201516:01:00Federated Investors, Inc. Reports Second Quarter 2015 Earnings
07/15/201509:43:00Month-End Portfolio Data Now Available for Federated Investors...

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