Bonus Watch '14: Deutsche Bank Puts Executive Bonuses On Ice

Author:
Updated:
Original:

You get nichts!

Deutsche Bank has frozen the payment of millions of euros in bonuses to current and former senior executives to reflect the risks from legal investigations, people familiar with the matter said. Paul Achleitner, chairman of the bank's supervisory board, decided to hold back more than €10 million ($12.6 million) of deferred bonus payments from previous years that were to be paid out this year, these people said. The payout freeze was first reported by Germany's Handelsblatt. The measure is part of a broader effort to change the management culture at Germany's largest bank. The bonus freeze is affecting current executive board members including co-chief executives Anshu Jain and Jürgen Fitschen as well as former executives including ex-CEO Josef Ackermann, they added.

Deutsche Bank Freezes Millions of Dollars of Executive Bonuses [WSJ]

Related

Bonus Watch '13: Deutsche Bank

The good news: there will still be bonuses this year, which is something! The even better news, for those who'd describe themselves as fans of tantric bonuses: it'll be a while before you see it all.