SunTrust Bank's sale of its asset management firm RidgeWorth Capital Management hurt the second-quarter performance of the trust and investment management business, the parent of the Atlanta-based bank announced on Monday.
In the second quarter, revenue from trust and investment services plunged $14 million, or 11%, to $116 million from $130 million in the same period a year ago. Revenue was also down by the same amount from the previous quarter.
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