Deutsche Bank plans revised bonus system for top executives
Deutsche Bank wants to create a more transparent bonus scheme for its senior employees, according to German newspaper Handelsblatt. The bank will present the new system at the annual shareholders' meeting on 18 May, with a view to making bonus details less complicated and easier to follow. The bank had earlier decided to make deep cuts to bonuses after being hit with billions of dollars of fines for mortgage mis-selling before the 2008 financial crisis. The management board are waiving their own bonuses for 2016.

Deutsche Bank plans new bonus system for senior staff- Handelsblatt

FRANKFURT, Jan 31 (Reuters) - Deutsche Bank is working on a new, more transparent bonus system for its top executives, German newspaper Handelsblatt reported on Tuesday, citing sources.

Deutsche Bank will propose the new system to its annual shareholders meeting, which is scheduled for May 18, the newspaper said.

The new system will be less complicated and more transparent. Deutsche Bank declined to comment on the report.

Deutsche Bank earlier this month decided to cut bonuses drastically as it tries to turn a profit and faces a big bill for litigation.

Germany's biggest bank has finalised a $7.2 billion settlement with the U.S. authorities over its sale of toxic mortgage securities in the run-up to the 2008 financial crisis. It has also agreed to pay $630 million in fines for organising $10 billion in sham Russian trades.