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Deutsche Bank Scraps Senior Bankers’ Bonuses for 2016

  • Some top performers will get special long-term incentive
  • Most junior banker compensation has been moved to fixed pay
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Deutsche Bank AG scrapped the bonuses of its top executives for a second straight year and slashed variable compensation for other senior employees, as Germany’s largest lender tries to shore up capital that’s been eroded by low interest rates and legal expenses.

The measures, announced in a memo to employees Wednesday that was signed by the members of the management board, will affect about a quarter of employees, including vice presidents, directors and managing directors. A “limited number” of employees in crucial positions will receive a special long-term incentive, partly in stock, that will be deferred for as long as six years, according to the memo.