Increasing million salaries in the upper echelons of the DAX companies are no longer a self-perpetuating – the show on Friday. published annual reports of German Bank, Commerzbank and Allianz for the year, 2015.
While at Deutsche Bank the record loss of 6.8 billion euros by suggested on income of the Management Board and the bonuses for investment bankers, benefiting the distinctive Commerzbank CEO Martin Blessing from the business success of his house last year.
German Bank sweeps bonus for the management Board
at Deutsche Bank, the total remuneration of the top management to the previous year fell by 36 percent to EUR 22.7 million. Co-CEO John Cryan, who Anshu Jain replaced mid-year, received for his first six months at the Bank peak of 1.9 million euros. Also Jain received 1.9 million euros. Co-CEO Juergen Fitschen earned 3.8 million euros after 6.7 million euros in the previous year. The bonus for the Executive Board had cut in January, the Supervisory Board.
the bonuses for employees reduced the German bank by 17 percent to 2.4 billion euros. This is particularly the investment banker. However, their fixed salaries were last increased due to the new legal limit of bonus numbers. The total compensation for investment bankers rose by 6 percent to nearly 4.8 billion euros. so you remain the top earner in the group.
The total compensation for all employees of the largest German money house increased from 10 billion to 10.5 billion euros. This reflects also the increase in the workforce by approximately 3000 to approximately 101 000th The German bank accepts as part of its restructuring, among other external services again itself and provides for an employee. In the coming years, however, for a tough job cuts to reduce costs.
Commerzbank will pay top salaries
At Commerzbank pays the first billion profit in five years and a return to a dividend for CEO Blessing from. For the past year he cashed the bottom line of 1.7 million euros – six percent more than for 2014. Thus Blessing gets more than ever in his eight-year tenure at the helm of the bank. The Management Board of the second largest banking house was around 8.5 (previous year: 7.6) million euros paid. Private Customers Board Martin Zielke, which will replace Blessing May 1 as CEO, received almost 1.2 million euros.
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More bonuses in cash, shares can follow in the coming years for the seven Commerzbank's Board when the current performance proves sustainable. For the entire top management of teilverstaatlichten Dax Group, the compensation claims in 2015 amounted to 14.1 (13.4) million euros.
Despite billion profit, the employees None
Commerzbank had nearly quadrupled its surplus to 1.06 billion euros last year. For the first time since the financial crisis there is a dividend for shareholders. You should get 20 cents per share. The employees, however, comes from the billions of profits to not much. A profit-related bonus they do not get to the annoyance of the Works. The board justified this by saying that Commerzbank was not yet sufficiently profitable.
Big Bonuses at Allianz
In Europe's biggest insurer Allianz salaries of directors grew significantly in the head change. Because a bonus matured for three years, the management team received a total compensation of 57 (30) million euros. Reigning since May CEO Bäte came to a total compensation of 7.05 (2.8) million euros. His predecessor Michael Diekmann could take home 5.5 million euros - 1.1 million more than a year earlier.
So no, Mr Draghi! As Europe's leading bankers us all fall into the abyss
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