Top Firm To Cap 2012 Bonuses

Deutsche Bank - External

If the cap fits.......

Bloomberg reports that Deutsche Bank plans to tell employees it will impose a $409,000 cap on bonuses paying out this year, said three people with knowledge of the discussions.

The cap, which will apply across the company, may be relayed to employees next week, said the people, asking not to be identified because the plans are private. Senior staff, or what the bank calls 'regulated' employees, will receive as much as $207,400 in cash, with the balance available in shares in August, the people said.

Banks are under pressure to rein in compensation and tie it more closely to performance after large cash payouts were blamed for encouraging the type of risk-taking that led to the 2008 collapse of Lehman Brothers Holdings and the subsequent financial crisis. Deutsche Bank will pay $4.4bn in bonuses for 2012, down 11% from a year earlier, Chief of Compliance Stephan Leithner said Friday.

Hit the link below to access the complete Bloomberg article:

Deutsche Bank Said to Limit Immediate Bonuses to 300,000 Euros 

Deutsche Bank Avoiding Capital Increase as Jain Sees Pain

Barclays CEO Jenkins Says He Won’t Take Bonus for 2012

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News