As rank and file employees of Deutsche Bank brace for "one of the worst years ever" re: bonuses, CEO John Cryan has announced that he and the rest of the DB management board will be getting $0.00 this year. Considering this group is comprised of the upper echelons of the bank-- including someone whose title is Chief Risk Officer-- and said bank lost over $7 billion in 2015 this seems...pretty reasonable?
Deutsche Bank, confirming that it would post a record loss for 2015, said on Thursday that members of its management board would not receive bonuses for the year and that shareholders should not expect a dividend until 2017 at the earliest...In a news conference on Thursday, the bank’s co-chief executive, John Cryan, said that the bank’s general bonus pool would be smaller “as a matter of justice” to reflect the impact of the provisions the bank took in 2015, particularly for the legal cases. “By and large, I think we are underpaying against our international peer group this year, and I hope that many staff understand why,” he said. “The bonus pool this year will be down by a fair amount on the previous year. I think that’s right.”