Skip to main content

Deutsche Bank just reported its ninth-consecutive quarterly profit, a whopping €1.1 billion, far above the level analysts expected. Which, as far as Shikha Gupta is concerned, is good, because she’d like her fair share, at last.

She sued the bank saying she was promised she would be paid “more than ever” only to lose her job when the unit was closed. Instead she received a bonus of just £21,250 ($24,389).

At the time Gupta was laid off, back in March 2017, two-plus solid years of profitability at Deutsche Bank must have seemed like a hilarious pipe dream. As must have being paid “more than ever.” But then again, the Germans needed folks like Gupta to help clean up the gigantic mess they had built Chernobyl-style walls around and hung a sign reading “Bad Bank,” as though the epithet could not be applied to Deutsche Bank as a whole, or that it would only need one, and so perhaps promises were made?

The trader, who now works for hedge fund Astra Asset Management, earned £485,000 through 2016, and said her compensation was discussed with executives and the then chief executive officer John Cryan, her lawyers said in a legal filing…. She said she asked for the assurances in writing but was told management promises would be honored.

Yea, probably should have insisted on the paper trail, Shikha, as John Cryan’s promises tended to have a short shelf-life. Plus, you know, his successor needs that money for other things.

[CEO Christian] Sewing will warn analysts in a call later on Wednesday that "we continue to operate in a difficult and uncertain environment", according to a transcript of his remarks.

Finance chief James von Moltke told reporters that loan growth would "undoubtedly" slow and it was "realistic" next year will carry some risk.

Ex-Deutsche Bank Trader Sues for Bonus After Bad Bank Shutdown [Bloomberg]
Deutsche Bank reports big jump in profit despite slump in dealmaking [Reuters via Yahoo!]

For more of the latest in litigation, regulation, deals and financial services trends, sign up for Finance Docket, a partnership between Breaking Media publications Above the Law and Dealbreaker.


deutsche bank

Bonus Watch ’21: One 35-Year-Old Deutsche Banker

Name your price, Mark Spehn, and then give Ken Griffin a call.

deutsche bank

Bonus Watch ’20: Deutsche I-Bankers

We can’t believe we’re saying it any more than they can believe they’re hearing it.


Deutsche Bank CFO Incredulous That People Actually Believe The Merger Rumors Swirling Around His Tire Fire Of A Bank

James von Moltke cannot believe that the press has the balls to say that anyone wants to merge with Deutsche Bank.

(Getty Images)

Deutsche Bank CEO Search Exactly The Catastrophe You’d Expect

Better to let the new guy know what he’s in for, assuming there will actually be a new guy.

deutsche bank

Layoffs Watch ’21: Deutsche Bank

Even after 18,000 job cuts, the Germans think they look a bit flabby.


Bonus Watch '17: Deutsche Bank Bonus Pool More Like A Sad, Shallow Shower Puddle Of Bonuses

Deutsche Bank's mismanagement of this year's bonus season is like a new form of performance art.

(Getty Images)

First Installment of ‘Good News At Deutsche Bank’

John Cryan won't have to spend the bank's final few pfennigs on a class-action mortgage settlement.