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COMMENT: I'm a senior banker at Deutsche Bank and I believe that my bonus will be big

I'm a senior investment banker at Deutsche Bank in London and yes, I've read the news. I understand that the bank's bonus pool is supposed be down 10% on last year. I appreciate too that the cost target is a constraint and that some people may see their bonuses cut by 15% to 20%, possibly more. However, there are various reasons why I also think that people like me will be rewarded when bonuses are announced in a few months' time.

Firstly, a stream of senior people have left our franchise over the past year. There are plenty of them, from Conor Hennerbry to Kristian TriggleTadhg Flood Claire Brooskby, and Rainer Polster. Many left in the second half of 2018 and generated revenues up until their exits. - We're hopeful those revenues will be diverted to paying those of us still here.

Secondly, I think that senior management understand the gravity of the situation. People who have remained loyal to Deutsche during the recent difficult years have not done so because we lack alternatives. We have done so because we want to give this bank a chance.  We like our jobs here. We like Deutsche Bank and want to stay. However, we have all seen colleagues leaving for better jobs elsewhere. Some of us have even made a move to leave but been wooed back by Deutsche's promises of high pay. If bonuses are dreadful here again this year, a lot of people will lose patience and decide to take the risk of trying something different.

Lastly, I understand that CEO Christian Sewing appreciates the dynamic that has afflicted the allocation of bonuses at Deutsche Bank for far too long. - For years, a cadre of senior managers who were not themselves dealmakers, kept a large proportion of the bonus pool for themselves. In this way, the bank squandered its bonuses on no-name bureaucrats without the kind of profiles that would enable them to get hired elsewhere. Because of this, the dealmakers who brought in the revenues were underpaid, and many decided to move on. I think that Sewing now understands there is no value in overpaying internal power players while underpaying the people who know the clients. - Or at least, I sincerely hope he does, for Deutsche Bank's sake.

George Grisham is a pseudonym

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AUTHORGeorge Grisham Insider Comment
  • An
    Anna Prentice
    14 January 2019

    What a terrible terrible pseudonym. Seriously, pick anything your imagination can stretch to, and they came up with ‘George Grisham’

  • DH
    DH
    11 January 2019

    Senior FIG banker must be! And likely one of the second/third rate ones too if relying on the hope of getting paid with the fees earned by all the talented staff who left? 15-Mar will be Coup de Grâce at DB when juniors all walk out so grabbing the popcorn. 🍿

  • Se
    Sewing
    10 January 2019

    Dude, that’s the worst marketing ever from a senior banker to convince his juniors. DB is a gone case and it’d be interesting to see the remaining talent leave to other shops for cheap or dread dying a slow death there.

  • We
    Werewolf
    9 January 2019

    I'd believe you but your bureaucrats are still there

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