Deutsche Bank to spread bonus earned in 2008 over many years

FRANKFURT, Feb 14 (Reuters) – Deutsche Bank (DBKGn.DE) will draw out the payment of bonuses that employees earned for 2008 over many years, its chairman told a newspaper.
“For many workers at the bank, the bonus for 2008 will be drawn out over many years,” Clemens Boersig told Frankfurter Allgemeine Sonntagszeitung.
Pay packets such as the 14 [...]

Deutsche Bank axes at least 50 in Singapore, HK

SINGAPORE, Feb 7 (Reuters) – Deutsche Bank’s (DBKGn.DE) wealth management arm on Friday laid off at least 50 staff in Singapore and Hong Kong as earnings from private banking plunged, two sources familiar with the situation said.
The first source, a banker in the German lender’s Singapore office, said around 50 people in the city-state had [...]

Deutsche Bank Said to Cut Bonuses by 60% After Loss

Feb. 2 (Bloomberg) — Deutsche Bank AG, Germany’s biggest bank, plans to cut bonuses at the securities unit by an average of 60 percent after reporting a record loss, a person with knowledge of the situation said.
Business units hardest hit by the financial crisis such as structured products and proprietary trading will face larger reductions [...]

Fresh UBS job cuts suggest more to come for sector

ZURICH/LONDON (Reuters) – A new round of job cuts at Swiss bank UBS AG two months after an earlier cull shows thousands more bankers may be on their way out as investment banks struggle with a crisis critics say they helped cause.
Banks have announced almost 300,000 job cuts since the start of the credit crunch [...]