FRANKFURT, Germany – Deutsche Bank says former top executives have agreed to give up part of their 69.8 million euros ($81.7 million) in bonuses withheld in a dispute over responsibility for the bank's legal troubles.
The bank said the former executives agreed to voluntarily give up their claims to 38.4 million euros in bonuses and to settle for the remaining 31.4 million euros. It did not name the executives.
The bank's board suspended the payments but found they could not legally get the money back.
Deutsche Bank has for years paid billions to settle investigations over past misconduct. In December, it agreed to pay $7.2 million to settle a U.S. investigation into its handling of complex securities backed by house mortgages. Losses on such securities helped kick off the global financial crisis in 2007.