Andreas Rauterkus, UAB assistant professor of finance, told the Birmingham Business Journal that Regions had several reasons to sell the unit.
“This sale shows that Regions really wanted to get out of this particular business,” said Rauterkus. “Morgan Keegan has not made a lot of positive headlines in the last years with all of the lawsuits that were filed against it. I think Regions is getting rid of a headache that its had. Plus, Regions needed the money to pay off the TARP.” Full article from Birmingham Business Journal