The bank identified compensation as a key part of its cultural change initiative. In an initial step in 2012, the vesting structure of the deferred equity awards for the Senior Management Group was changed. Instead of vesting in several tranches over three years, there is one award disbursed after a vesting and retention period of five years. The awards also carry performance conditions throughout the five-year period linked to both the performance of the bank and the employee’s respective division. The introduction of the five-year vesting period for deferred compensation goes beyond existing regulatory requirements.
The level of variable compensation as a percentage of net revenues fell in 2012 as in previous years.
Further details on compensation changes are included in our Compensation Report 2012.
Approximately 20,500 employees from 37 countries participated in our broad-based Global Share Purchase Plan in 2012. This represents more than a third of all eligible employees worldwide and 55 % in Germany. It offers employees the opportunity to purchase Deutsche Bank shares in monthly installments. At the end of the purchase cycle, Deutsche Bank matches the shares acquired at a ratio of one to one up to a maximum of ten free shares.