DealZone

Morgan Stanley’s surge in fourth-quarter profit indicates its strategy of diversifying its businesses to reduce a reliance on traditional investment banking operations may be paying off.

Wendy’s/Arby’s Group plans to sell its struggling Arby’s roast beef sandwich chain to focus on the Wendy’s hamburger business. The move comes at a time when other fast-food companies are trying to shed assets or even sell themselves.

The Carlyle Group’s back-to-back sell-downs worth $2.6 billion of China Pacific Insurance, put the U.S. buyout fund on course for its best exit ever.

Man Group saw $1 billion of net client outflows in its third quarter, dashing hopes that last year’s purchase of rival GLG would deliver a quick turnaround at the world’s largest listed hedge fund manager.