Mr Macfarlane is set to retire in early 2014, the company stated.
Mr McMurdo was most recently based in London and head of the financial sponsors group for Europe, the Middle East and Africa.
He will report to Deutsche's co-chief executive officers for Asia Pacific Gunit Chadha and Alan Cloete, the group stated.
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He previously co-headed investment banking for Goldman Sachs in Australia and New Zealand.
Mr McMurdo “brings great depth of experience to this important role and is best suited to help grow our strong position across all our client businesses," Mr Chadha said.
