Bankers Trust's Newman to be paid at least $55 million over five years

Article Abstract:

After Deutsche Bank AG completes its acquisition of Bankers Trust Corp. Frank N. Newman, chairman and CEO, will reportedly get a contract that will pay him $900,000 base salary plus at least $10 million per year for the next five years. Other details of his contract are expected to be disclosed later and the company would not publicly confirm the salary terms at the time of this writing.

Comment:

CEO is among the hightest paid executives

Management development, Compensation and benefits, Executives, Executive compensation, Newman, Frank N.

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Deutsche Bank to formalize Bankers Trust deal

Article Abstract:

The world's largest financial institution to be created by Deutsche Bank's acquisition of Bankers Trust is expected to be completed by the 2nd quarter of 1999 barring any regulatory or monopoly problems. The deal is sporting a price tag of $9.7 billion that will come from cash, assumption of debt, and/or stocks. No mention of economies gained or loss of jobs of non-executives.

Asset sales & divestitures, Acquisitions & mergers, Germany, Mergers, acquisitions and divestments, Deutsche Bank AG

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