Here we are in the middle of August and the upper echelon of Deutsche Bank are already floating the idea that there may not be bonuses this year as the struggling German uber bank attempts to keep its doors open by conserving capital anyway it can.
Truth be told most DB bankers have not seen a bonus since 2008 as most of the comp was given in stock that had to vest for 5 years.
There are so many German bankers underwater on bonuses [insert your own Lusitania joke here] that the executive ranks have been decimated over the last three years.
Not that that really harmed the bank that badly, since most of the fleeing executives left under a cloud of civil indictment for market rigging either in Libor of Forex in order to prop up the bank’s ailing balance sheet
So the bonus trial balloon may send many other execs fleeing into the night causing further constraints on the bank’s ability to turn things around. I’m assuming this will be pulled back and the comp will be deferred for a number of years with warrants that will probably never get near its strike price.