The boss of Germany’s Deutsche Bank has told the Financial Times that the bank will spread the impact of the UK’s bonus tax among its staff worldwide.“We will clearly globalise it”, said Josef Ackermann, Deutsche Bank’s chief executive. “It would be unfair to treat the UK bankers differently”, he added.
It is the first bank to detail its response to the bonus tax.
Chancellor Alistair Darling last week announced a one-off 50% tax on bonuses of more than £25,000 until April 2010.
France has also announced similar plans.
“We will monitor what [other] banks are doing, how much of the cost will be borne by staff and how much will be taken by shareholders”, Mr Ackermann told the paper.
He also said that he opposed government interference in deciding bankers’ pay, saying “bonuses should be the result of supply and demand for skilled people”.