The new head of Germany’s largest bank challenges the financial industry by questioning the use of bonuses as a worthy incentive for providing service to customers. High finance needs more such ethical reflection.
Bythe Monitor's Editorial Board
To many in banking, John Cryan has become the Grinch who might steal Christmas, or rather the Christmas-like gift of a yearly bonus. The new chief executive of Deutsche Bank, one of Europe’s flagship financial institutions, has broken ranks with the industry by saying that bonuses are not a great motivator for those in banking to do good work.