German group Deutsche Bank paid its investment bankers over $500,000 each on average last year, topping Goldman Sachs as the highest payer on Wall Street.
Pay and benefits for all Deutsche’s 15,943 staff in its corporate and investment bank arm was 5.9 billion euros ($8.2 billion) last year, or an average of 373,000 euros, according to 2010 results announced on Thursday.
Average pay was up from 357,000 euros in 2009, after investment bank revenues rose 11 percent to 20.9 billion euros.
Deutsche Bank increased the number of staff in its investment banking unit by 12 percent last year. Most are based in London, New York and Frankfurt.
Banker pay remains a hot topic, especially in Europe, amid political and public anger at the scale of bonuses after many banks needed a taxpayer bailout.
Regulators have forced many banks to adjust their pay structure, with fixed pay rising as pressure mounts on bonuses, where more of the award needs to be in shares or deferred.
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