Friday, March 11, 2016

Banks: Less money for German Bank peak – ABC Online

Friday , 03.11.2016, 12:47
Thank you for rating!


Report Error
You have an error found?

Please check the applicable words in the text. With just two clicks you report the error of the editors.

The leadership of the German Bank gets the deep red numbers in your wallet to feel: the managers collect significantly less than a year earlier. Even with the bonuses, the Group slams on the brakes. But not all in the bank earning therefore less.

The record loss of Deutsche Bank also has an impact on the income of the Management Board and the bonuses for investment bankers.

the total compensation of top management slumped last year by 36 percent to 22.7 million euros, as indicated in the Annual report, the Frankfurt DAX company published on Friday.

the Supervisory Board had already decided in January, the boards to remove the bonus, 2015. Due to high depreciation and new provisions for legal disputes, the Group had recognized EUR 6.8 billion loss last year.

At the beginning of the downturn in investment banking continued. Therefore, the group’s top management agreed a on a total of weak earnings. “The strong usually first quarter threatens this year for the entire industry to fail badly,” wrote the co-chiefs John Cryan and Jürgen Fitschen. My group was no exception. “But even in times of turbulent markets the German Bank remains extremely solid.” Cryan takes over after the general meeting in May the sole guide.

Cryan received for his first six months at the Bank peak 1.9 million euros , The Briton had Anshu Jain replaced mid-year. Jain also received 1.9 million euros. Fitschen earned 3.8 million euros after 6.7 million euros a year earlier. Shareholders deleted the dividend for two years the institute.

The employees had to leave springs in bonuses. They sank the Group by 17 percent to 2.4 billion euros. This is particularly the investment bankers who received just under 1.5 billion euros at variable surcharges and thus on the basis of constant exchange rates 20 percent lower than a year earlier. However, the bank whose fixed salaries had risen recently because of the new legal limit of bonus numbers.

The total compensation of the investment bankers rose year on year by 6 percent to nearly 4.8 billion euros. so you remain the top earner in the group. The total compensation for all employees rose from 10 billion to 10.5 billion euros. This reflects also the increase in the workforce by approximately 3000 to approximately 101 000th The background is that the German Bank, among other external services takes over again, even in the course of their restructuring and for employees is established. In the coming years, however, for a tough job cuts to reduce costs.


Thank you for rating!



No comments:

Post a Comment