Deutsche Bank Considers Higher Base Salaries After Bonus Cap

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The base is the ace!

Reuters reports that Deutsche Bank's independent pay review committee said Germany's flagship lender may need to raise fixed salaries if European Union rules put a cap on bonuses.

The committee, which issues non-binding recommendations for Deutsche Bank's board of directors about how to reform pay, said it needed to react to efforts by E.U. regulators to introduce a maximum ratio of variable to fixed pay.

Juergen Hambrecht, a former BASF chief executive, who heads the panel said: 'European rules are more stringent than in the U.S. and Asia. This has consequences. A raising of fixed salaries is one of them'.

In the meantime, the news agency reports that Deutsche Bank's supervisory board chairman said co-Chief Executives Anshu Jain and Juergen Fitschen will each receive $6.2m in total remuneration for 2012.

Deutsche Bank mulls raising fixed pay to counter EU bonus rules

Deutsche Bank to pay co-CEO's 4.8 mln eur each for 2012

Bankers get one last bonus season before EU cap on payouts

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