Deutsche Bank

Annual Report 2016

Compensation in accordance with the German Accounting Standard No. 17 (GAS 17)

In accordance with the requirements of the GAS 17, the members of the Management Board collectively received in the 2016 financial year compensation totaling € 26,691,178 (2015: € 23,913,876) for their service on the Management Board. Of that, € 25,883,333 (2015: € 22,660,000) was for base salaries, € 807,845 (2015: € 1,253,876) for fringe benefits and € 0 (2015: € 0) for performance-related components with long-term incentives.

In accordance with German Accounting Standard No. 17, the Restricted Incentive Awards, as a deferred, non-equity-based compensation component subject to certain (forfeiture) conditions, must be recognized in the total compensation for the year of their payment (i.e. in the financial year in which the unconditional payment takes place) and not in the year they are originally granted. Based on this the Management Board members individually received the following compensation components for their service on the Management Board for or in the years 2016 and 2015, including the non-performance-related fringe benefits.

Compensation according to GAS 17

 

John Cryan1
Co-Chairman

Jürgen Fitschen2
Co-Chairman

Kim Hammonds3

Stuart Lewis

in €

2016

2015

2016

2015

2016

2015

2016

2015

1

Member since July 1, 2015.

2

Member until May 19, 2016 / contract termination on May 31, 2016.

3

Member since August 1, 2016.

Compensation

 

 

 

 

 

 

 

 

Performance-related components

 

 

 

 

 

 

 

 

With long-term incentives

 

 

 

 

 

 

 

 

Cash-based

 

 

 

 

 

 

 

 

Restricted Incentive Award(s) paid

0

0

0

0

0

0

0

0

Share-based

 

 

 

 

 

 

 

 

Equity Upfront Award(s)

0

0

0

0

0

0

0

0

Restricted Equity Award(s)

0

0

0

0

0

0

0

0

Non-performance-related components

 

 

 

 

 

 

 

 

Base salary

3,800,000

1,900,000

1,583,333

3,800,000

1,000,000

0

2,400,000

2,400,000

Fringe benefits

41,795

29,697

38,937

102,016

6,035

0

77,938

97,624

Total

3,841,795

1,929,697

1,622,270

3,902,016

1,006,035

0

2,477,938

2,497,624

 

Sylvie Matherat1

Nicolas Moreau2

Quintin Price3

Garth Ritchie4

in €

2016

2015

2016

2015

2016

2015

2016

2015

1

Member since November 1, 2015.

2

Member since October 1, 2016.

3

Member since January 1, 2016 until June 15, 2016.

4

Member since January 1, 2016.

Compensation

 

 

 

 

 

 

 

 

Performance-related components

 

 

 

 

 

 

 

 

With long-term incentives

 

 

 

 

 

 

 

 

Cash-based

 

 

 

 

 

 

 

 

Restricted Incentive Award(s) paid

0

0

0

0

0

0

0

0

Share-based

 

 

 

 

 

 

 

 

Equity Upfront Award(s)

0

0

0

0

0

0

0

0

Restricted Equity Award(s)

0

0

0

0

0

0

0

0

Non-performance-related components

 

 

 

 

 

 

 

0

Base salary

2,400,000

400,000

600,000

0

1,100,000

0

2,400,000

0

Fringe benefits

12,905

5,226

5,239

0

13,783

0

110,241

0

Total

2,412,905

405,226

605,239

0

1,113,783

0

2,510,241

0

 

Karl von Rohr1

Dr. Marcus Schenck2

Christian Sewing

Werner Steinmüller3

in €

2016

2015

2016

2015

2016

2015

2016

2015

1

Member since November 1, 2016.

2

Member since May 22, 2015.

3

Member since August 1, 2016.

Compensation

 

 

 

 

 

 

 

 

Performance-related components

 

 

 

 

 

 

 

 

With long-term incentives

 

 

 

 

 

 

 

 

Cash-based

 

 

 

 

 

 

 

 

Restricted Incentive Award(s) paid

0

0

0

0

0

0

0

0

Share-based

 

 

 

 

 

 

 

 

Equity Upfront Award(s)

0

0

0

0

0

0

0

0

Restricted Equity Award(s)

0

0

0

0

0

0

0

0

Non-performance-related components

 

 

 

 

 

 

 

 

Base salary

2,400,000

400,000

2,400,000

1,460,000

2,400,000

2,400,000

1,000,000

0

Fringe benefits

47,730

2,348

23,720

38,370

204,758

19,471

165,001

0

Total

2,447,730

402,348

2,423,720

1,498,370

2,604,758

2,419,471

1,165,001

0

 

Jeffrey Urwin1

Anshuman Jain2

Stefan Krause3

Dr. Stephan Leithner4

in €

2016

2015

2016

2015

2016

2015

2016

2015

1

Member since January 1, 2016.

2

Member until June 30, 2015.

3

Member until October 31, 2015 / contract termination on December 31, 2015.

4

Member until October 31, 2015.

Compensation

 

 

 

 

 

 

 

 

Performance-related components

 

 

 

 

 

 

 

 

With long-term incentives

 

 

 

 

 

 

 

 

Cash-based

 

 

 

 

 

 

 

 

Restricted Incentive Award(s) paid

0

0

0

0

0

0

0

0

Share-based

 

 

 

 

 

 

 

 

Equity Upfront Award(s)

0

0

0

0

0

0

0

0

Restricted Equity Award(s)

0

0

0

0

0

0

0

0

Non-performance-related components

 

 

 

 

 

 

 

 

Base salary

2,400,000

0

0

1,900,000

0

2,400,000

0

2,000,000

Fringe benefits

59,763

0

0

337,718

0

105,099

0

72,570

Total

2,459,763

0

0

2,237,718

0

2,505,099

0

2,072,570

 

Rainer Neske1

Henry Ritchotte2

Total

in €

2016

2015

2016

2015

2016

2015

1

Member until June 30, 2015.

2

Member until December 31, 2015.

Compensation

 

 

 

 

 

 

Performance-related components

 

 

 

 

 

 

With long-term incentives

 

 

 

 

 

 

Cash-based

 

 

 

 

 

 

Restricted Incentive Award(s) paid

0

0

0

0

0

0

Share-based

 

 

 

 

 

 

Equity Upfront Award(s)

0

0

0

0

0

0

Restricted Equity Award(s)

0

0

0

0

0

0

Non-performance-related components

 

 

 

 

 

 

Base salary

0

1,200,000

0

2,400,000

25,883,333

22,660,000

Fringe benefits

0

61,347

0

382,390

807,845

1,253,876

Total

0

1,261,347

0

2,782,390

26,691,178

23,913,876

In 2016, the Supervisory Board decided to suspend the tranches of deferred compensation elements which were subject to non-forfeiture and/or disbursal in 2016 for the Management Board members Fitschen and Lewis, who were still active in the reporting period, as well as for nine former Management Board members who already left the Management Board prior to the reporting period. Accordingly, the table above does not contain the Restricted Incentive Awards which were not disbursed in 2016.

With respect to deferred awards scheduled to be delivered in the first quarter of 2017, the Supervisory Board has confirmed that the performance conditions relating to Group-wide IBIT for the financial year 2016 have been met.