DealZone

Deals wrap: Mixing it up at Morgan Stanley

January 20, 2011

A street sign stands near the Morgan Stanley worldwide headquarters building in New York May 8, 2009. REUTERS/Lucas JacksonMorgan 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.

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