News Releases

Back to News Releases

DavCo Restaurants Chooses SunTrust

PRNewswire
ATLANTA
May 22, 2001

SunTrust Banks, Inc. announced that DavCo Restaurants, Inc. of Baltimore, MD has selected SunTrust Retirement Services to manage its $8 million in 401(k) plan assets. Replacing services previously provided by a large Wall Street manager, SunTrust will manage the 401(k) assets for over 600 plan participants.

A main reason that DavCo Restaurants, Inc., the largest Wendy's franchisee and Friendly's Restaurant franchisee with 208 locations in three states and the District of Columbia, chose SunTrust was because of its strength in developing customized employee education strategies. Rick Borchers, executive vice president of DavCo, also added, "SunTrust is very well managed and heavily dedicated to the new technologies and speed of delivery required in today's marketplace."

SunTrust has been serving pension and corporate retirement needs since 1943. As one of the largest daily-valued, bundled providers in the Southeast, SunTrust Retirement Services manages more than $24 billion in retirement plan assets. Other products provided by SunTrust Retirement Services include investment management, non-qualified, treasury management, trustee and custodial services.

SunTrust Banks, Inc., headquartered in Atlanta, Georgia, is the nation's ninth-largest commercial banking organization. As of March 31 2001, SunTrust had total assets of $103.7 billion and total deposits of $65.5 billion. The company operates through an extensive distribution network in Alabama, Florida, Georgia, Maryland, Tennessee, Virginia and the District of Columbia and also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the company provides credit cards, mortgage banking, insurance, brokerage and capital markets services. SunTrust's Internet address is http://www.suntrust.com/ .

MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X54843807

SOURCE: SunTrust Banks, Inc.

Contact: Lisa Schultz of SunTrust Banks, Inc., 407-237-6842