Published on Mon, Mar 15, 2010 at 07:29 | Source : Reuters
Updated at Mon, Mar 15, 2010 at 08:10
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Deutsche Bank CEO back among top earners?
Given the billions of euros of profit made last year by Deutsche Bank, its chief executive may have got back amongst Germany's top earners last year, a newspaper said on Sunday.
Given the billions of euros of profit made last year by Deutsche Bank, its chief executive may have got back amongst Germany's top earners last year, a newspaper said on Sunday.
Frankfurter Allgemeinen Sonntagszeitung said Josef Ackermann's total pay for last year was at least 8 million euros, including a bonus, having received only his 1.4 million euros fixed salary in 2008 and losing his rank as the biggest earner among Germany's top 30 blue chip companies.
With the debate raging on bonus payments for bankers during the financial crisis, Ackermann and his board colleagues gave up 2008 payments that were based on variable components.
Germany's biggest lender made a net profit of 5 billion euros in 2009 afterlosing 3.9 billion in 2008.
The bank will publish its 2009 annual report on Tuesday and will show Ackermann's pay last year did not match the record 14 million euros ($19.29 million) he got in 2007, two sources familiar with the matter told Reuters.
But Ackermann received a bonus for the year 2009, unlike for the year 2008, the sources said.
