Wall Street

Deutsche Bank board takes small bonus cut over third-party messaging – sources

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Reuters UK

FRANKFURT (Reuters) – Deutsche Bank’s management board members are each taking a 75,000 euro ($78,795) cut in compensation to accept responsibility for employee use of third-party messaging applications at the lender, two people with knowledge of the matter said on Wednesday. The move by the 10 board members is voluntary and intended to send a cultural signal at the bank after weaknesses in the implementation of policies to prevent the use of unauthorized messaging apps, the people said. The cut in 2021 pay is small for Deutsche Bank’s Chief Executive Officer Christian Sewing, who earned 8.8 m…

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