The German Bank has earned in 2018 for the first Time in four years money, however, significantly less than most competitors. Chief Executive, Christian Sewing, received a total remuneration of seven million euros. Even more, his Deputy, Garth Ritchie, and two of its employees below the Executive Board received EUR 8.6 million. the
The Deutsche Bank will pay approximately 90 000 employees for the past financial year, a total of 1.9 billion euros in bonuses. This is clear from the annual report of the largest German money house. In the year 2017, the workforce had received 2.3 billion euros – was, however, still a lot bigger.
the German Bank has made In comparison to the previous year in which a loss of 735 million euros, closed the financial institution the year 2018, with a profit of 341 million euros. Therefore, the Top Management of the acting head Christian Sewing this Time not on his bonus payments-in the three years prior to that, the Manager had done this waived. For 2018, the Board members receive a total of 55.7 million Euro, compared to 29.8 million Euro in the year 2017.
the reason for the increase, in addition to the bonuses, redundancy payments for the Board of management retiring Manager, for example, for Ex-Deutsche Bank chief John Cryan: He got a severance of about 8.7 million euros, plus 2.2 million because he can’t work for competitors. In addition, he received for the year 2018, in which he had only worked three months for the Bank, total remuneration of EUR 1.9 million. As from the annual report, gets Sewing the Bonus, because he has achieved most of the goals. So, he came around to the lower Costs and headcount reductions.
Top earners of the Bank’s chief Executive, Christian Sewing
His successor, Christian Sewing, since April of 2018, head of Deutsche Bank, earned in the last year, seven million euros – almost four million more than in the previous year, when he was a regular member of the Board. Nearly 3.3 million euros is to be fixed Salary, the Rest goes back to bonuses.
Top-earners among the active members of the management Board Sewing was not in the last year. Most of the money on Garth Ritchie, head of the investment Bank, and at the same time, one of the two Deputy Sewings got: The South Africans received almost nine million euros. This was mainly due to its Position as the top-Brexit officer of the Bank, for which he received additional payments. His performance, however, was not untroubled: for, of all things, in the business area of Ritchie, the Bank last year had such big problems with the systems for customer identification, the financial authority, Bafin, had to appoint a special representative in the money in house.
for The first Time in four years, the Bank recorded a profit
On a portion of their bonuses to the managers only access if you work in five years at Deutsche Bank. According to the banking regulation. By then, however, many are likely to be able to your assets of education to complete. Even below the Executive Board, the Bank provided the employees remain with generous paychecks. Overall, the number of income millionaires at Deutsche Bank 2018 is decreased compared to the previous year, from 705 to 643. Noteworthy: Two employees below the Executive Board even received a total compensation of between nine and ten million euros and earned more than the investment banking Board of Directors Right.
in 2018 is the first year since 2014 that the German Bank earned money again. However, the gain fell well short of most competitors. The Bank is struggling more, especially with low yields in the capital markets, and high costs. Sewing, to break down, therefore more staff. In addition, he is currently in merger talks with Commerzbank. It should come to that, are likely to be closed numerous branches, and probably tens of thousands of bankers laid off.
