SunTrust Banks Inc. said it is in discussions to sell portions of its RidgeWorth Investments subsidiary, which specializes in institutional investment management.

The Atlanta-based regional bank didn't give any details about the discussions and said there is "no certainty a transaction will be consummated, and the effect on the company's financial results would not be significant."

Ridgeworth and its boutiques collectively manage $63.1 billion of assets. As of Dec. 31, SunTrust was adviser for more than $205 billion in assets.

SunTrust in January said its fourth-quarter loss narrowed more than expected, though soft revenue and weak loan demand from consumer and commercial borrowers reflected continued recessionary pressure.

Shares of SunTrust were up 0.7% to $28.85 in recent trading. The stock has doubled the past year.

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