Bad news if you like cash bonuses, in the style of those now paid at Credit Suisse. Senior staff ( directors and MDs) in a number of divisions, including the investment bank, are obliged to defer 100% of their bonuses above €500k ($532k) - and if their fixed pay exceeds that number, their entire bonus is deferred. The Deutsche Bank bonus deferral labyrinth
The bank blamed this on “the current uncertain economic outlook” to “prudent capital planning and long-term capital stability,” and to its “ambitious cost targets.”Īlthough there was previously speculation as to just how much Deutsche Bank's high performing fixed income traders would get, the rest of the investment bank was a mixed bag. Its M&A team did well to keep revenues flat, but it had some of the less performant capital markets divisions compared to peers, in terms of revenue at least - ECM was down 81% and DCM 74% compared to 2021. There was a disconnect between Deutsche’s great bottom line - €5.6bn, up 65% pre-tax YoY - and its stagnant bonus pool. Deutsche Bank bonuses weren't as good as Deutsche Bank's financial results
The number of Material Risk Takers (senior staff) also increased by nearly a quarter - from 485 to 594. Deutsche Bank’s annual report is out – and so are its pay numbers.ĭespite a much weaker year for the investment banking landscape than 2021, Deutsche's bonus pool (variable compensation) for the investment bank fell 8% last year - not a bad number c ompared to the 50% contraction seen at Credit Suisse.
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