Josef Ackermann earned $ 9,550,000 last year .
HB DÜSSELDORF. German Bank CEO Josef Ackermann is the best-paid managers of the DAX and MDAX companies. He received total compensation last year, amounting to 9.55 million euros, as a study published on Friday the German association for private investment (DSW ) and the Technical University of Munich showed .
In second place RWE chief executive Juergen Grossmann followed with an annual salary of € 7.16 million from Siemens CEO Peter Löscher with € 7.12 million . Even with the Board , the German bank would be some at the top of the table. Was given to each board of the bank an average of 5.57 million euros.
In contrast, the mates did during direct competitors Commerzbank with a relatively low content to settle . Because of state participation in the salary payments were capped and there were 0.55 million € . Commerzbank is in the rear to Dax. Overall, four of the 30 DAX companies pay their directors an average of less than 1 million € .
The pension entitlements of Board members were first investigated by the DSW. Accordingly, the CEO would receive after the occurrence of the current state pension age on average € 562 000 per year. The highest commitment to date Martin Winterkorn at Volkswagen , with € 1.19 million per year to .
The age by which the ex – CEOs receive the full amount varies considerably, but is on average at 62 years. In the study , only the pension plans of 22 of the 30 DAX companies are analyzed, because they are not always reported accurately.
Because of their salaries fall German CEOs regularly in the criticism , led by Ackermann. "For bank customers , it is incomprehensible when they get bad interest on their investment , while paying their managers lush Institute , Frank -Christian Pauli says of the Consumer . "Consumers expect to be back in focus : not as an object to make money, but as a contractor for which the banks are service providers . "
Corporate executives turn to show remorse at the consequences of the financial crisis. German Bank CEO Ackermann assured about the general meeting in late May , he ‘ll take the " reputation of the banking industry as a whole " serious: "Banks do not operate in a vacuum, they are part of the society in which and for which they work. We can not thrive in a parallel world . "
One consequence pair : After political pressure Dax corporations to pay its executives more long-term future at the company’s success. Bonus payments are stretched over several years and in case of losses can be recovered. Ackermann also receives only a third of the approximately 9.6 million € paid immediately , 70 percent of the sum are related to the future business success.
" It’s been a lot achieved, the executive pay run , on average, not so out of hand as in previous years, " even pays homage to Verdi federal Uwe Foullong the efforts of corporations respect. "But we must remain vigilant, there are always outliers. "Time and again groups argue in the international comparison, you would have to pay their managers well , or migrated from the best people .
The chairmen of the 30 companies in the German stock index are on average € 3.8 million . Top earners in the financial world in 2009 was the head of the U.S. bank Wells Fargo, John Stumpf, with more than 21 million dollars.
" consider the argument that a German manager went to the U.S. , just because it paid better there , I designed for , "said trade unionist Foullong . It was important that the salaries of the CEO in Germany " appropriate " were , warns Foullong . Above all, should the gap between ordinary workers and the leadership team are not too large.
The fact that Ackermann’s earnings multiples of a single employee salary of Deutsche Bank is , instead it has in the industry but also an understanding of : The merit of the Swiss is that he has drawn the largest German bank without state assistance through the financial crisis – in stark contrast to his colleague Martin Blessing of the Commerzbank had to take the risky after the takeover of Dresdner Bank State billion help and accept their own salary losses.