Deutsche Bank CEO's 46% pay rise in 2020 prompts severe backlash

Topics Deutsche Bank

Deutsche Bank paid Chief Executive Christian Sewing 7.4 million euros ($8.8 million) in 2020, up 46% from a year earlier, prompting criticism from unions and politicians.

The bank's bonus pool was up 29% as it rewarded staff for a pandemic-related trading boom, which helped the German lender to eke out a profit after years of losses. The disclosure in the bank's annual report on Friday came as Deutsche said revenue would be "marginally lower" this year. In Germany, which is facing an election year and where the.

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