Deutsche Bank to Slash Bonus Pool by About 10%
- Lender will pay bonuses more selectively to top performers
- Executives pledged to pay ‘competitively’ to retain talent
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Deutsche Bank AG’s management board plans to cut the bonus pool by about 10 percent as the German lender juggles cost pressures while trying to retain key employees, according to people familiar with the matter.
Bonuses for last year will be paid more selectively in an attempt to keep top earners, the people said, asking not to be identified because the deliberations are private. The bank is likely to award less than 2 billion euros ($2.3 billion) in bonuses, down from about 2.2 billion euros in 2017, they said. The final figure could still change, depending on fourth quarter results, they said.