Embattled German lender Deutsche Bank is looking into tying compensation of senior employees to share price development, the bank's chief financial officer, Marcus Schneck told investors Thursday.
"We have taken down cash bonuses that we planned for this year," Schneck said, adding that tying the compensation of senior employees to share price made sense, but no decision had yet been taken.
However, this may be contradictory to Deutsche Bank's chief executive officer John Cryan's thinking that the share price does not impact the daily functioning of the bank. When asked if he was worried about the stock price, Cryan said "I don't try and manage the share price ever, I manage the bank."
The decision to take down the bonuses is aimed at saving costs as the bank struggles with a $14 billion settlement negotiation with the U.S. Department of Justice over mis-selling of mortgage backed securities in the run-up to the financial crisis.