Deutsche Bank paid its management board members their first bonuses in four year...
FRANKFURT - Deutsche Bank paid its management board members their first bonuses in four years in 2018, with Christian Sewing’s 7 million euro total pay package making him one of the best paid chief executives in European banking.
Sewing, who became CEO in April last year, led Deutsche Bank to its first profit in four years and is heading the talks with Commerzbank. He earned 2.9 million euros for 2017. Deutsche Bank’s annual report also revealed that its management board received total pay, including bonuses, of 55.7 million euros in 2018, up from 29.8 million euros a year earlier.
Gerhard Schick, finance activist at Finanzwende and ex-member of the German parliament, questioned Deutsche Bank’s bonuses if they were meant as incentives for good performance. Litigation costs are expected to be “significantly higher” in 2019 than in 2018, Deutsche Bank said in the report.
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