Deutsche Bank Considers Higher Base Salaries After Bonus Cap

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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