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The highest paid employee of the Deutsche Bank earned almost twice as much as the executive director Christian Sitnjanje last year, as the largest German lender increased the bonuses after increasing profit from investment banking.
The number of employees who earned more than 1 million euros jumped 28 percent to 647 in 2024, which is 505 in the previous year. The increase has encouraged a 78 percent increase in profit before taxation at the Investment Banking Department, where a variable salary related to performance makes a higher share in the total salary.
The total bonus base of the banks increased by 25 percent to 2.5 billion euros, while the total salary increased by only 8 percent to 11.1 billion euros, and the main number is stable.
Deutsche He does not reveal the identity of his best earnings, which is not on the Committee, but one individual was paid as much as 18 million euros last year, while in 2023 the highest earnings had a salary range of 14 million euros to 15 million euros. The sewing is fine to earn 9.8 million euros, and only three other employees received more than 10 million euros.
Payments of the Committee members could still be lower than those stated in the annual report on Thursday, after a change in Deutsche’s Executive salary structure.
The bank switched to the model forward for long -term stimuli based on shares, connecting payments with performance in the next three years, not in the last three. This change aims to suppress the short -term search for profits.
As a result, the final payment of 2024 for the members of the Committee will be fully determined only in 2026. If the members of the Committee achieve 100 percent of their goals, their combined long -term bonus would total € 25.6 million, compared to 19.8 million euros in 2023. When they reached 77.5 percent of the goal.
The short -term bonuses fell for most of the board members. The Bonus for the Chief Administrative Officer Stefan Simon almost halved to 1 million euros, of 1.8 million euros compared to the previous year, after 1.3 billion euros for a long -term dispute in Postbank Deutsche, who withdrew investors. The bank later resolved most of the requests for 900 million euros after the court indicated that it could judge in favor of the plaintiff.
The short -term bonus paid by the departure Director of Olivier Vigneron’s departure, by more than 20 percent, after two increasing provisions on loan loss provisions last year.
