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Deutsche Bank’s highest paid employee won almost twice as much as chief chief Christian Sewing last year, as Germany’s biggest lender increased rewards after an increase in investment bank profits.
The number of employees who earned more than € 1 million was dropped 28 percent to 647 in 2024, from 505 last year. Growth was prompted by a 78 percent increase in pre -tax profits in the bank’s bank division, where the variable performance -related salary is a greater portion of the total salary.
The bank bonus’s total pool increased 25 percent to 2.5bn €, while the total payment increased by only 8 percent to € 11.1bn, with the calculation of the head that remained stable.
Deutsche does not reveal the identity of his high winner, which is not in the table, but an individual was paid up to 18m last year, while in 2023, the highest clothing had a range of salaries of € 14 million to € 15 million. The sewing is in line to earn € 9.8 million, and only three other employees received more than € 10m.
Board member salary packages may be even lower than those set out in Thursday’s annual report, after a change in the executive structure of Deutsche’s salary.
The bank has moved to a future model for long -term stock -based incentives, linking performance payments over the next three years than the last three. This change aims to inhibit short -term profit research.
As a result, the final payment of 2024 for board members will be fully determined in 2026. If board members reach 100 percent of their objectives, their long -term combined bonus will reach a total of € 25.6 million, from € 19.8 million to € 2023 when they reached 77.5 percent of the target.
Short -term bonuses fell for most board members. The bonus for the main administrative official Stefan Simon was almost halved to € 1 million, from € 1.8 million last year, following a provision of € 1.3bn for the long dispute of Pasbank’s Deutsche, which shocked investors. The bank later resolved more demand for € 900m after a court signaled that it could rule in favor of the plaintiffs.
The short -term bonus paid to outgoing risk official Olivier Vigneron was also shortened, with more than 20 percent, after two increases in the provisions of loss last year.
