September 26, 2012 / 6:10 AM / 5 years ago

Deutsche Bank chairman flags a bonus cap -paper

FRANKFURT, Sept 26 (Reuters) - Deutsche Bank bonuses for management board members are limited to a single digit million amount, supervisory board chairman Paul Achleitner told Handelsblatt in an interview published on Wednesday.

Deutsche Bank is overhauling its remuneration system and will shortly present an independent committee charged with drawing up new rules on pay.

Earlier this month, supervisory board member Werner Wenning said Deutsche Bank should introduce a cap for top salaries and that staff do not need to earn double-digit million euro amounts.

Achleitner further said a breakup of banks would potentially damage the economy.

“With a breakup of the universal bank something would be destroyed which is of importance to the German industry,” Achleitner said.

He responded to a plan of former German finance minister Peer Steinbrueck, who wants to separate investment banking businesses from lending and deposit operations.

Separately, Achleitner dismissed the idea that he could one day himself become chief executive of Germany’s flagship lender. (Reporting by Edward Taylor and Harro ten Wolde; Editing by Louise Heavens)

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