Deutsche Bank 'to pay investment bankers more than Goldman Sachs'

28 October 2010

Deutsche Bank is paying out more money to its investment bankers than Goldman Sachs, new documents have shown.

According to data obtained by Bloomberg, the German financial institution set aside enough money to pay each of the employees in its corporate and investment bank an average $394,499 in the first nine months of this year.

This compares with an average $370,076 at Goldman Sachs, although this figure does include payments made to support staff, as well as employees in divisions where remuneration levels are likely to be smaller.

Stefan Krause, chief financial officer at Deutsche Bank, said: "The market continues to be very competitive and top talent has its value and its price and we cannot ignore that fact."

The firm has recently posted a loss of €1.21 billion for the third quarter of the year, with the deficit chiefly down to the allocation of €2.3 billion on writing down the value of its holding in Postbank.

By Claire Archer

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