Deutsche Bank has hired Credit Suisse’s former Head of Mergers and Acquisitions (M&A) for Southeast Asia, Lim Zi-Kuan, as the German lender looks to expand its deals business in Asia, according to a Bloomberg report. Lim is expected to become Deutsche Bank’s co-head of M&A for Asia in the coming months. Deutsche Bank sees the Credit Suisse emergency sale as an opportunity to acquire key personnel or businesses that may not have been available otherwise. In Southeast Asia, Credit Suisse is among major deal advisers, and is currently handling seven pending deals worth about USD3bn. Lim, a Singapore-based managing director, has been with Credit Suisse for over 20 years and heads up M&A for frontier markets. Meanwhile, Credit Suisse continues to grapple with the fallout from its emergency rescue by UBS Group, with the deal signed last month expected to cut its overall workforce by up to 30%, according to Swiss newspaper SonntagsZeitung.
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