Deutsche Bank Cuts Board's Pay

Compensation reduced by 19% after the bank misses profit goal for 2011.

Deutsche Bank AG, Germany’s largest bank, reduced the pay of its management board by 19 percent after missing its profit goal last year.

The board’s seven members received 26.4 million euros ($34.9 million) in salary and bonuses for last year, compared with 32.4 million euros in 2010, when there were eight members, Deutsche Bank said today in a statement on its website.

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