For most leaders, admitting they do not understand something is a no-no. But not Deutsche Bank's new co-chief executive John Cryan — at least when it comes to the bonus culture and his own pay packet.
"I have no idea why I was offered a contract with a bonus in it because I promise you I will not work any harder or any less hard in any year, in any day because someone is going to pay me more or less," he told a conference in Frankfurt.
Pay in the sector was still too high, he added, and he did not "fully empathize" with people who "say they turn up to work and work harder because they can be paid a little bit more".
"I've never been able to understand the way additional excess riches drive people to behave differently."