Deutsche Bank cuts investment banker's pay 14%

Deutsche Bank cut overall pay for its investment bankers by 14 per cent last year in a move that heightened concerns over European banks? competitiveness versus their US peers.Germany?s largest lender, the first European bank to report on pay this year, slashed salaries, bonuses and other benefits in its corporate banking and securities division to ?5.3bn as revenues dropped 12 per cent and staff levels sank 2 per cent.

This article was published in The Financial Times, 29th January 2014