Deutsche Bank’s Sewing Signals Bonuses Will Reflect Trading Wins
- CEO says bank will ‘honor’ commitment to pay for performance
- Bank saw 23% jump in fixed income revenue in November
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Deutsche Bank AG Chief Executive Officer Christian Sewing signaled that he plans to reward traders after a surge in fixed-income trading revenue at the investment bank, joining lenders including JPMorgan Chase & Co. which expect to boost variable pay.
“We will stick to our commitment that we pay for performance,” Sewing said in a Bloomberg TV interview on the bank’s 2020 investor day, where it said debt trading revenue jumped about 23% last month. “Where we have a good performance and an even improved performance, we will also honor this.”