For Deutsche Bonus, Raid Is ‘Nightmare With Eyes Wide Open’
- New scandals emerge after era of legal woes cut annual payouts
- As some staff fret, leaders are said to plan competitive pay
This article is for subscribers only.
It’s that time of year again when Wall Street bankers turn their attention to bonuses. And at Deutsche Bank AG, they’re facing the prospect, again, that part of their payouts could be swept away by scandal.
At the company’s offices around the world on Thursday, employees watched the flashing lights of police cars through windows and on TV as 170 officers raided the bank’s headquarters and other German locations, seeking evidence of money laundering. Such news has tended to fall particularly hard on staff at the Frankfurt-based lender.