entire - Deutsche Bank Annual Report 2012

Deutsche Bank
Annual Review 2010
01 – Deutsche Bank Group
Corporate Governance
Compensation
The compensation of the Management Board members is primarily aligned to the
sustainable, long-term success of the bank. The factors for determining variable compensation
are individual performance as well as, on the one hand, the bank’s planned
and actually achieved two-year average return on equity, and on the other hand, the
relative performance of the bank’s share over a three-year period compared to a
selected group of our peers. A substantial part of the variable compensation is awarded
on a deferred basis, subject to a possible clawback and largely equity-based. To a
reasonable extent, the deferred variable compensation is subject to the sustained
performance of Deutsche Bank, positive or negative.
Members of the Supervisory Board receive compensation comprised of a fi xed and
a variable component. The variable compensation is linked to the achievement of
ambitious targets, the dividend and the three-year average earnings per share. The
chair and deputy chair of the Supervisory Board as well as the chair and members of
the Supervisory Board committees receive additional compensation.
The individual compensation of the members of the Management Board and the
Supervisory Board as well as the structure of our remuneration system are published
in the Compensation Report. Please refer to the Financial Report 2010, page 128 ff .
Financial reporting
Shareholders and the public are regularly kept up to date through the Annual Report,
including the Consolidated Financial Statements, as well as the Interim Reports.
The reporting of Deutsche Bank Group is in accordance with International Financial
Reporting Standards ( IFRS ). This provides for a high degree of transparency in fi nancial
reporting and facilitates comparability with our international peers.
Declaration of Conformity
On October 27, 2010, the Management Board and Supervisory Board amended the
annual Declaration of Conformity pursuant to § 161 of the German Stock Corporation
Act. Deutsche Bank AG acts in conformity with the recommendations of the German
Corporate Governance Code in the version dated May 26, 2010, without any exceptions.
Our detailed Corporate Governance Report, along with the Declaration of Conformity
for 2010 and other documents on our corporate governance, such as the terms of
reference for the Management Board, the Supervisory Board and its committees, are
available on the Internet at www.deutsche-bank.com / corporate-governance.
We continuously check our system of corporate governance in light of new events,
statutory requirements and developments in domestic and international standards,
and make the appropriate adjustments.
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