Deutsche Bank CEO Returns to Normal Bonuses After Turbulent Period

Deutsche Bank CEO John Cryan announced staff will receive typical bonuses and pay raises for the first time since taking charge two and a half years ago.

Cryan confirmed the return to standard compensation practices in a recent interview with Germany’s Börsen-Zeitung, contrasting sharply with 2017’s start when he eliminated many senior staff’s performance bonuses.

Despite significant financial penalties and restructuring efforts, including a $7.2 billion US penalty for mis-sold mortgage-backed securities, staff remained skeptical about the speed of normal compensation restoration.

Deutsche Bank CEO John Cryan pledged staff will receive typical bonuses and pay raises for the first time in his two and a half years leading the bank.

Cryan stated the return to standard compensation practices occurred after a period of significant cuts, including an 80 per cent reduction in previous year’s performance bonuses.

The bank’s 2017 bonus reduction, implemented early in the year, was described as a one-off measure despite ongoing financial penalties and restructuring costs.

Staff skepticism persisted due to accelerating declines in investment banking revenue and the bank’s $7.2 billion US penalty for mis-sold mortgage-backed securities.