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Bonuses to Disappoint Bankers After Banner Year for Finance

  • Deutsche Bank, Credit Suisse pull back on yearly incentive pay
  • Restraint in annual payouts spreads to Europe from the U.S.
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After a stellar year for trading and dealmaking, European bankers are joining their American counterparts in learning their bonuses won’t be quite as impressive.

Credit Suisse Group AG, which contended with major legal hits and writedowns last year, reduced its bonus pool by about 7%. Deutsche Bank AG will boost bonuses for its traders by more than 10%, but it was forced to scale back an initial plan to increase annual payments by roughly a third after the European Central Bank objected.