Deutsche Bank to Pay co-CEOs $12.9 Million This Year

Deutsche Bank AG (DBK), continental Europe’s biggest bank, plans to pay co-chief executive officers Anshu Jain and Juergen Fitschen a maximum of 9.85 million euros ($12.9 million) apiece for this year.

The pay includes fixed salaries of 2.3 million euros and bonuses capped at 7.55 million euros, the Frankfurt-based company said in a statement on its website two days ago. Jain and Fitschen, who started as co-CEOs in June last year, received 4.89 million euros each in salaries and bonuses for 2012.

Deutsche Bank’s supervisory board approved the payouts last week and shareholders will be asked to vote on them at a meeting on May 23, according to the statement.

To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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