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Eleven current and former top executives at the struggling bank agreed to “voluntarily” forfeit $44.9 million in bonuses, stemming from their role in managing Deutsche Bank during the period leading up to the financial crisis and after, the company said Thursday.

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“The reason was that Deutsche Bank saw itself confronted with a number of supervisory investigations and regulatory penalties, whose causes originated from the period before the 2007 financial crisis in some cases,” the bank said.

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Since 2015, the bank has been hit with a $7.2 billion settlement with the Justice Department over its role in the 2008 financial crisis; a $425 million fine for helping Russians launder $10 billion money, and $2.5 billion for manipulating interest rates.

In response, Deutsche Bank said it asked top executives to pay up.

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09-Jan-2020 07:17