Businessweek

SunTrust Banks announced that the company's Board of Directors will consider in its upcoming meeting a $0.05 per share increase in the quarterly common stock dividend.

SunTrust Banks, Inc. announced some changes to its management in Northeast Florida and along the East Coast, the Jacksonville. David Mann, the bank's chairman and CEO in the North Florida region, takes charge of the bank's teams in Miami; Atlanta; Nashville, Tenn.; Charlotte, N.C.; and Greater Washington, D.C. In addition, Debbie Buckland was appointed to the newly created position of city president of the bank's operations in Jacksonville. She will remain head of commercial and not-for-profit banking for the bank's North Florida region.

SunTrust Banks, Inc. announced that Sue Mallino is joining the company as senior vice president and chief communications officer, reporting to SunTrust's chief marketing and client experience officer, Rilla Delorier. In this role, she will lead the company's external and internal communications activities, including overseeing media relations, product publicity, internal communications, issues management, and key stakeholder communications. Mallino joins SunTrust from Ally Financial Inc., where she most recently served as executive director of Global Communications, which included overseeing media relations and internal communications for Ally's Dealer Financial Services and Ally Commercial Finance.

Lightyear Capital LLC has been emerged as the lead bidder to acquire RidgeWorth Capital Management, Inc., being sold by SunTrust Banks, Inc. (NYSE:STI), Reuters reported citing three sources familiar with the situation. Two of the sources said that SunTrust also received bids from Crestview Partners, L.P. and Thoma Bravo, LLC. One of the sources added that Lightyear is likely to pay between $250 million to $300 million for RidgeWorth. A spokesman for Atlanta-based SunTrust declined to comment. A Lightyear spokesman did not return a request for comment.

In connection with the election of a new director, Frank P. Scruggs, Jr., SunTrust Banks, Inc.'s Board of Directors approved new committee assignments. Mr. Scruggs was assigned to the Compensation and Risk Committees.