Stock Analysis, IPO, Mutual Funds, Bonds & More

Deutsche Bank CEO invests 15% of monthly pay in bet on shares

The bank has yet to convince investors that it can meet goals for raising revenue in businesses it wants to keep.

Last Updated: Sep 03, 2019, 07.50 AM IST
Frankfurt: Deutsche Bank AG’s Christian Sewing is making good on a promise to put his money where his mouth is.

The chief executive officer will invest 15 per cent of his monthly net salary in the lender's shares, starting with a €22,144 ($24,303) investment on August 30, Deutsche Bank filings show. That goes beyond standard practice at German companies, where senior executives are frequently awarded stock as part of their bonuses.

Sewing kicked off Deutsche Bank's biggest overhaul in recent memory earlier this year after attempts by his predecessors failed to restore the globally-important lender to profitability. The bank has yet to convince investors that it can meet goals for raising revenue in businesses it wants to keep, while exiting stock trading and firing staff across the firm.

The stock purchase program runs from September 1 to the last day of 2022 and depends on Sewing continuing as a member of Deutsche Bank's management board, according to the filings.

Deutsche Bank pays its CEO €3.4 million a year in gross salary as well as bonuses that are determined by the individual and the company's performance, according to its annual report. Sewing held 73,237 Deutsche Bank shares as of February 15 this year, according to the most recent annual report.
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

Also Read

Deutsche Bank not keen on DHFL buy

Former SAP India MD joins Deutsche Bank

Deutsche Bank boosts loans to cash-strapped tycoons in India

Expect additional 35bps reverse repo rate cut by August: Deutsche Bank

Deutsche Bank-led group a step closer to Jindal India deal

Deutsche Bank reshuffles its India top deck

Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links

Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service