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Paul Achleitner is due to retire next May after 10 difficult years in office that saw two changes of chief executive, billions of euros of losses and huge fines
Paul Achleitner due to retire next May after 10 difficult years and billions of euro in losses
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The European Central Bank has asked Deutsche Bank a number of times in recent months to name a successor to chairman Paul Achleitner as the end of his term nears, two people with knowledge of the matter said.
Deutsche Bank’s decision to give its top echelon employees a massive bonus has led to protests about how incongruous such a payout was in these challenging times for the rank and file employees. The bank increased bonuses for its investment bankers by 46 percent in 2020, after a pandemic-driven trading boom led to the bank posting its first annual profit in six years. According to its annual report published on Friday, the bank’s bumper bonus totaled a staggering €1.9bn, which is 16 times Deutsche’s net profit in 2020. In actual terms, almost half to its profit has been allocated as...