(Photo: picture-alliance/Deutsche Bank)
Deutsche Bank’s outgoing co-head, Anshu Jain, was embroiled in a furious row on Tuesday with German financial regulators over a bonus worth millions of euros that was paid to a former star trader.
BaFin, the watchdog, accused Mr Jain, who has just stepped down as Deutsche’s co-chief executive, of personally lobbying for the bonus for Christian Bittar, who is now part of a criminal investigation into alleged benchmark-rigging.
A BaFin report said senior management at Deutsche had a “remarkable” relationship with Mr Bittar. It said Mr Jain pressed for a joint bonus as high as €130m for him and another trader, telling the bank’s chairman at the time that they were “good guys, the best on the Street”.
The original article can be found at www.ft.com