Deutsche Bank is expected to announce today a tougher bonus structure for its top executives.
The Frankfurt-based bank, co-run by Anshu Jain and Jürgen Fitschen, is expected to announce that its top 150 executives will have compensation deferred five years, up from the current three-year period.
The changes are slated to be made as part of a broader plan by the co-leaders to correct the bank’s lackluster performance of late.
Last week, the bank, which has a significant New York presence at 60 Wall St., officially cut hundreds of local jobs as a part of a previously announced plan to slash 1,900 employees globally.
The vast majority of executives let go were said to be those not considered big contributors to the firm’s profits.
Jain and Fitschen, who have led DB for four months, will outline a plan to boost the bank’s overall profits and stem concerns that it’s not as well-capitalized as its European brethren.