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Deutsche Bank Managers Take Pay Cut as WhatsApp Fallout Widens

June 23, 2022, 7:15 PM

Deutsche Bank AG’s management board agreed to take a pay cut after criticism from regulators of widespread use of private communication channels among staff via applications such as WhatsApp, according to people familiar with the matter.

Top executives are set to see a 75,000 euro ($79,000) cut to bonuses given for last year’s performance that start getting delivered from next year, one of the people said, asking not to be identified discussing a private matter. The lender is among several financial firms under investigation by US authorities over the use of private messaging that can’t be archived. It recently ...