Deutsche Bank Sees 2016 Industrywide Trading Revenue Drop
- German lender paid 756 people 1 million euros or more in 2015
- Bank cut bonus at securities unit 15% to 1.45 billion euros
Was Deutsche Bank's 11% Bonus Pool Cut a Surprise?
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Deutsche Bank AG, which runs Europe’s biggest investment bank, said it expects the industry’s revenue to decline this year as clients consider pulling back from trading some fixed-income securities and refrain from doing deals.
Securities firms will see debt trading revenue fall “slightly” from a year earlier as “an increase in macro revenues due to monetary policy divergence will be more than offset by lower credit revenues,” Deutsche Bank said in a statement from Frankfurt on Friday. Income from equity trading will probably be “moderately lower” in 2016, while corporate finance industry fee pools will fall due to a decline in deals to advise on, it said.