Benefits & Executive Comp

Deutsche Bank Cut Bonus Pool Plans After Criticism From ECB (2)

Feb. 19, 2021, 7:30 AM

Deutsche Bank AG scaled back plans for its bonus pool after the European Central Bank objected to proposed payout levels, highlighting the challenges of rewarding top performers while heeding demands for restraint during the global pandemic.

Germany’s largest lender had initially planned to pay out more than 2 billion euros ($2.4 billion) for staff performance in 2020, but that amount has been cut after several rounds of talks with the regulator in recent months, according to people familiar with the matter. The ECB has now dropped its reservations, the people said, asking not to be identified discussing the private information....

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