Deutsche Bank Hikes Chairman Pay Despite Investor Critique (1)

Deutsche Bank AG’s shareholders approved a plan to give a big pay raise to Supervisory Board Chairman Alexander Wynaendts after criticism at the lender’s annual general meeting.

The proposal lifts Wynaendts’ fixed pay by 21% to €1.15 million ($1.3 million). He’s also in line for an additional €250,000 for heading two supervisory board committees, compared with no such compensation in the past.

Deutsche Bank AG’s Supervisory Board Chairman Alexander Wynaendts in Frankfurt, on May 28.

Photographer: Hannes P. Albert/AFP/Getty Images

Taken together, the changes increase the Dutchman’s total annual remuneration to €1.4 million, compared with €950,000 previously — a jump of almost half.

“This sends the wrong message to the bank and the public,” said Andreas ...