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Deutsche Bank's McMurdo Says Asia Cuts `Largely Completed'

Cathy Chan, Joyce Koh
Deutsche Bank's McMurdo Says Asia Cuts `Largely Completed'

Deutsche Bank AG has almost finished restructuring its Asian investment-banking business and plans to add bankers in the coming months, said regional head James McMurdo. “Yes we did trim, but we trimmed where we thought we were less competitive, or where we thought the opportunity was not that significant and that has largely been completed,” McMurdo, who leads corporate and investment banking for Asia Pacific, said in a phone interview Monday. McMurdo reiterated the lender is focused on Asia, servicing clients in local markets as well as global capital markets and cross-border deals.