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Deutsche adds to financial institutions team

Deutsche Bank has hired 12 senior Merrill Lynch employees to its global banking division in the same week that Nelson Chai stepped down as president of Bank of America's Asia-Pacific operations.

Chai was chief financial officer at Merrill Lynch until the BoA acquisition completed last month, but had yet to move to Asia to take up his new role. He will be replaced by Kim Hong, BoA's chief risk officer in the Asia-Pacific region.

The Deutsche Bank hires

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