Henderson Group ended discussions to purchase RidgeWorth Capital Management from SunTrust Banks.
In a news release Friday, Henderson, which on April 12 confirmed market speculation that it was pursuing RidgeWorth, simply said that talks were discontinued because “the parties have not reached agreement.”
SunTrust is the parent company of RidgeWorth, which in turn is the holding company of six or seven money management boutiques, with Seix being the biggest and most sought after one.
SunTrust spokesman Mike McCoy, while declining to discuss Henderson’s statement, said SunTrust “continues to explore strategic options” for its money management operations.
Henderson spokesman Richard Acworth declined to comment beyond his company’s statement.