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Deutsche Bank to cancel bonuses for former executives: Report

A pedestrian passes a Deutsche Bank logo outside the offices of Deutsche Bank AG in London.
Simon Dawson | Bloomberg | Getty Images
A pedestrian passes a Deutsche Bank logo outside the offices of Deutsche Bank AG in London.

Deutsche Bank will go back on its promises of bonuses made earlier to six former executives, claimed German newspaper Süddeutsche Zeitung on Thursday.

Those set to be affected include former Chief Executive Josef Ackermann and former co-Chief Executives Anshu Jain and Jürgen Fischen, according to information obtained by the newspaper which was translated from the original German.

The three others involved are said to be former board members Hermann-Josef Lamberti, Michael Cohrs and Hugo Bänziger, according to the newspaper.

The cancellation refers to bonuses which have not yet been paid and in total add up to a double-digit multimillion figure.

When contacted on the matter, a Deutsche Bank spokesperson told CNBC that the lender did not wish to comment on the specific Süddeutsche Zeitung story but that details on the possibility of cancelling variable compensation for certain executives could be found in the most recent annual report.

You can read the original article here.

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