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CIMB to cut about 50 jobs across Asia to reduce costs: sources

Acting chief Zafrul Aziz gets confirmation as group CEO

Kuala Lumpur

CIMB Group Holdings Bhd, Malaysia's second-largest lender, plans to cut about 50 jobs in Asia to trim costs, people familiar with the matter said.

The reductions involve mostly equities-related positions in places including Hong Kong, Taiwan, India and South Korea, the people said, asking not to be named as the plan wasn't public.

"The realities of today's capital markets" required the bank to make changes, Zafrul Aziz, the acting chief executive officer, said in an e-mailed statement that...

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