Deutsche Bank said to defer some bonuses even longer

Stopwatch

Some bankers / traders will have to wait another 12 months for all their variable pay.

Deutsche Bank investment bankers earning bonuses of as much as $546,000 will have to wait a year longer to receive their full bonus, people with knowledge of the plan told Bloomberg News.

Bloomberg reports that the bank is to defer ~75% of variable pay between $219,300 to $548,250 over a 4-year time period in equal portions.

In the meantime, efinancialcareers reported earlier this week that there been reports that Deutsche Bank’s bonus pool would be down 25% to 30% for last year and that 2015 would mark a nadir for the German bank’s bonuses. Fortunately, co-CEO John Cryan has been kind: Handelsblatt reports that Deutsche Bank’s 2015 bonus pool will in fact be down by the merest 15%.

Cryan’s kindness nonetheless leaves Deutsche’s bankers more harshly treated than Barclays’ (bonus pool down 8%), but more gently treated than traders at Credit Suisse (bonus pool down 36%). However, the pain at Deutsche will not be evenly distributed. Handelsblatt says Deutsche’s 250 most senior bankers will be dealt the most punitive cuts and that “some divisions” have had their bonus pools reduced by 30%.

Deutsche Bank Said to Extend Deferral Period for Bonus Payments

Deutsche Bank bonuses not quite as bad as feared

 

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