More heads roll in transition management

The Asia heads of transition management at Deutsche Bank and JP Morgan, Tom Clapham and Duncan Klein, have exited in a fresh round of cuts in the region, AsianInvestor can reveal. Both are understood to have been laid off in the past few weeks and are not expected to be replaced, reflecting reduced TM activity in very tough markets. Both banks confirmed the departures, but declined to comment further. JP Morgan is now said to be running its Asia-Pacific TM business out of Sydney…