Financial Business Review: Bank Action

President Marcial Portela of Banco Santander SA’s (NYSE:STD) Brazilian division rejects reports that the bank is planning to divest an equity stake to one of its competitors, saying that [his company] “does not need capital”. The Brazilian banks which are rumored to be potential buyers are also dismissing reports of talks.

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The new president of SunTrust’s (NYSE:STI) mortgage division is said by sources to be David Stevens, who will step down following one year as the CEO of the Mortgage Banker’s Association. Stevens led the FHA for the Obama administration for two years, prior to his time at the MBA.

Federated Investors (NYSE:FII) and Affiliated Managers (NYSE:AMG) are said by Reuters to be potential buyers of the $1 billion asset management unit of bailed-out Franco-Belgian bank Dexia (DXBGF.PK). New York Life Insurance and European private equity firm Permira might also have Dexia on their acquisitions shopping list.

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