Deutsche Bank & SocGen Executive Compensation News

The Financial Times reports that Societe Generale CEO Frederic Oudea has bagged his first bonus since taking the helm in 2008.

A regulatory filing released Wednesday revealed that Oudea received a modest cash bonus of $839,000, taking his total 2010 compensation to $2.45m. The bank said in a statement that Oudea's executive team had 'very largely' met their 2010 performance objectives.

The bank also said that it is increasing the base pay of senior management to $1.4m, but that it would not be awarding stock options for 2010. There will, however, be additional deferred compensation plans in place for the next 4 years, linking reward to long-term performance.

Interestingly, the bank has said that it will not be publishing details on the compensation received by corporate and investment banking head Michel Peretie.

Finally, Bloomberg reports that Deutsche Bank has revealed that Anshu Jain, its investment banking boss, received around $16.7m in total compensation for his work last year - significantly more than Group CEO Josef Ackermann, who bagged $12.6m.

Jain is one of a number of senior staff in the frame to succeed Ackermann, who is due to stand down in early 2013. Jain will, however, clearly have to take a pay cut should he get the job.

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