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Deutsche Bank signals potential bonus cuts amid tough market

EditorRachael Rajan
Published 17/01/2024, 09:29
© Reuters.

DAVOS - Deutsche Bank AG (NYSE:DB), speaking at the World Economic Forum in Davos today, indicated that its staff might face reduced bonuses due to a challenging market environment over the past year. The German banking giant is bracing for the impact of lower investment banking revenues, particularly in deal advisory services, which are expected to affect the total bonus pool.

The bank's full-year financial results are scheduled for release on February 1, and ahead of this, there has been an acknowledgment of the pressures faced by the investment banking division. This division plays a crucial role in determining the overall bonuses, and with lower revenues reported in key areas such as mergers and acquisitions (M&A) and fixed income trading, bonus reductions are on the table as part of broader cost-saving initiatives.

Additionally, the bank has experienced staff attrition in specific departments, including rates trading, which further contributes to the anticipated cutbacks.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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