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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
05/29/201508:45:00Federated Enhanced Treasury Income Fund Announces Estimated Sources...
05/26/201516:02:00Federated Investors, Inc.'s CEO to Present at Keefe, Bruyette...
05/20/201516:02:00Federated Investors, Inc. Announces Portfolio Manager Retirement
05/15/201510:47:00Month-End Portfolio Data Now Available for Federated Investors...
05/11/201508:45:00Federated Investors' Closed-End Municipal Funds Declare Monthly...
05/08/201509:30:08Form 13f Holdings Report (13f-hr)
05/08/201508:45:00Federated Enhanced Treasury Income Fund Declares Monthly Distribution
04/30/201508:45:00Federated Enhanced Treasury Income Fund Announces Estimated Sources...
04/28/201516:59:50Statement of Changes in Beneficial Ownership (4)
04/27/201518:18:02Statement of Changes in Beneficial Ownership (4)
04/27/201518:08:40Statement of Changes in Beneficial Ownership (4)
04/27/201517:57:52Statement of Changes in Beneficial Ownership (4)
04/24/201516:06:55Quarterly Report (10-q)
04/24/201514:06:34Federated Investors Inc. First-Quarter Earnings: Steady as She...
04/24/201506:02:48Current Report Filing (8-k)
04/23/201516:02:00Federated Investors, Inc. Reports First Quarter 2015 Earnings
04/17/201508:30:00Federated Investors, Inc. Finalizes Arrangement with Reich...
04/15/201513:30:00Month-End Portfolio Data Now Available for Federated Investors...
04/10/201508:45:00Federated Investors' Closed-End Municipal Funds Declare Monthly...
04/10/201508:45:00Federated Enhanced Treasury Income Fund Declares Monthly Distribution

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