FRANKFURT: Deutsche Bank chief executive Josef Ackermann's annual salary was steady at 6.2 million euros last year, while that of his successor, Anshu Jain, was sharply down, the group revealed on Tuesday.
Ackermann, 64, who steps down as the head of Germany's biggest bank at the end of May, earned a total 6.298 million euros ($8.3 million) in 2011, little changed from a year earlier, Deutsche Bank said in its annual report.
At one point during his 10-year term as chief executive, Ackermann was earning nearly twice as much on an annual basis.
His successor Anshu Jain, currently head of Deutsche Bank's investment banking division, saw his annual pay cut by 23 percent to 5.811 million euros last year, the annual report revealed. Jain, 49, is set to take over as co-chief executive alongside Juergen Fitschen in June.
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