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Diversification can’t save Goldman and Morgan Stanley from the deal drought

Wall Street giants are fighting to grow in new areas, but are struggling to offset a tanking deals market

Latest earnings show the challenges top banks are facing as they race to diversify
Latest earnings show the challenges top banks are facing as they race to diversify Photo: Getty Images

David Wighton is a columnist for Financial News

Deals are back, if you believe some of the rather breathless recent press coverage. There has been a flurry of private equity interest in UK companies, including Dechra Pharmaceuticals, The Hut Group, Network International and John Wood Group.

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