Some traders will see bonuses for 2014 fall by as much as 15%.
Deutsche Bank cut the bonus pool at the securities unit, its biggest profit generator, by about 4 percent as the firm reviews candidates to help run the investment bank, said people with knowledge of the matter.
Bloomberg News reports some debt traders will see bonuses for 2014 fall by as much as 10 percent to 15 percent, while declines for bankers who advise clients on mergers and securities sales may be smaller, according to one of the people, who asked not to be identified because the information isn’t public.
The size of the bonus pool is adjusted to reflect salary increases that were introduced last year, two people said.
Deutsche Bank is still in discussions with external and internal candidates who may replace Robert Rankin, who ran the investment banking and trading unit with Colin Fan until last month. Rankin became CEO of Consolidated Press Holdings Ltd., the family investment firm of Australian billionaire James Packer.
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