Senior Goldman Sachs executive James McMurdo will take charge of Deutsche Bank’s Australian and New Zealand business as CEO, replacing John Macfarlane, who retires in early 2014.
In his new role, McMurdo will report to Gunit Chadha and Alan Cloete, co-chief executive officers for the Asia-Pacific region, Deutsche Bank and his appointment is effective from February 2014.
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This move oversees the German investment bank’s franchise as equity markets are rebounding and deal making activity expected to pick up.
McMurdo has most recently been a partner at Goldman Sachs based in London running the Wall Street banks’ private equity group for Europe. He was previously co-head of investment banking for Goldman’s Australian business.
McMurdo previously also worked at UBS in Australia alongside Goldman and Macquarie Group.
Gunit Chadha, co-chief of Deutsche in the Asia Pacific, said:"James McMurdo is one of the most respected bankers in this key growth market for Deutsche Bank. He brings great depth of experience to this important role and is best suited to help grow our strong position across all our client businesses."
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