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In 2024, Europe's top bankers are earning record salaries, led by Sergio Ermotti of UBS at 15.4 million euros, followed by Andrea Orcel of Unicredit at 13.2 million euros. Other notable figures include Christian Sewing of Deutsche Bank at 9.8 million euros and Hector Grisi of Santander at 8.3 million euros. These high earnings are driven by substantial bank profits, despite rising interest rates, while discussions in Switzerland about limiting executive pay could impact future compensation dynamics.
Deutsche Bank has initiated coverage of Ferguson Enterprises (LSE:FERG) with a Hold recommendation as of April 1, 2025. The average one-year price target is set at 15,380.75 GBX/share, indicating a potential upside of 25.97% from the current price of 12,210.00 GBX/share. Institutional ownership has increased by 6.87% over the last three months, with 1,372 funds reporting positions in the company.
Sergio Ermotti, CEO of UBS, has been named Europe's highest-paid bank boss for 2024, earning CHF 14.9 million. He is one of only two executives in the industry to surpass CHF 10 million, with Andrea Orcel of Unicredit following closely. Notably, British banks were excluded from this ranking, and while Ermotti leads in Europe, US bank executives earn significantly more.
The public prosecutor's office in Frankfurt has fined investment company DWS €25 million over greenwashing allegations, stating that the firm misrepresented its market position in sustainable financial products from mid-2020 to January 2023. DWS has accepted the fine, noting it will not affect its financial results for Q1 2025, as provisions were already made. The company has faced similar accusations in the U.S., leading to additional penalties for inadequate measures against money laundering.
Deutsche Bank's units have been fined €25 million due to allegations of 'greenwashing.' This penalty highlights the increasing scrutiny financial institutions face regarding their environmental claims and practices. The case underscores the importance of transparency in sustainability efforts.
Sergio Ermotti, CEO of UBS, topped the list of Europe's bank executives with a remuneration of 14.9 million francs for 2024, significantly outpacing his peers. Despite investor criticism, both UBS and UniCredit defended their compensation packages, citing strong company performance and competitive talent markets. The rising profitability in the banking sector has led to increased bonuses across the industry, particularly in investment banking, while some CEOs, like those of Credit Agricole and ING, remain at the lower end of the pay scale due to less reliance on this sector.
Deutsche Bank’s asset manager DWS has been fined €25 million by German prosecutors for misleading investors about its green credentials from 2020 to 2023, following a whistleblower complaint. The firm, which is 80% owned by Deutsche Bank, faced scrutiny for its "aggressive" marketing that overstated its sustainable investment leadership. DWS previously settled with the US securities regulator for $19 million, marking the highest penalty related to ESG criteria against an investment adviser.
Shares of H. Lundbeck A/S dropped over 6% after Deutsche Bank downgraded the stock to "hold" from "buy," citing concerns about the company's growth trajectory and lowering its price target from DKK 53 to DKK 44. Analyst Manos Mastorakis noted that despite strong performance earlier in 2024, recent developments, including the Capital Markets Day and the acquisition of Longboard Pharmaceuticals, have led to a reassessment of Lundbeck's valuation, with P/E ratios reflecting a significant decline. While some products like Rexulti and Vyepti show promise, the PACAP pipeline is no longer viewed as a major growth driver, prompting a more cautious outlook on the company's future.
Deutsche Bank has invested GBP 250 million in UK fintech Abound, enhancing its lending capacity to GBP 1.6 billion. Utilizing AI and Open Banking data, Abound offers loans between GBP 1,000 and GBP 20,000 with competitive rates, aiming to improve access to credit for low-risk individuals often overlooked by traditional methods. The company, operational since 2024, achieved profitability within three years and is expanding its technology to other lenders.
Deutsche Bank has initiated coverage of Pool (BMV:POOL) with a Hold recommendation as of April 1, 2025. Institutional ownership has increased by 3.16% to 1,111 funds, though total shares owned decreased by 2.26% to 63,882K shares over the last three months. Notable shareholders like Kayne Anderson and J.P. Morgan have reduced their stakes, while Wellington Management increased its holdings significantly but decreased its portfolio allocation by 83.12%.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Europe's top bankers earn record salaries amid rising profits and scrutiny
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13:09 02.04.2025
Deutsche Bank starts coverage of Ferguson Enterprises with hold recommendation
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Sergio Ermotti named highest-paid banker in Europe for 2024
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12:34 02.04.2025
DWS fined 25 million euros over greenwashing allegations by prosecutors
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Deutsche Bank fined 25 million euros for greenwashing practices
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European bank CEOs see record pay amid rising profits and investor scrutiny
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12:05 02.04.2025
Deutsche Bank's DWS fined 25 million euros over greenwashing allegations
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Lundbeck shares decline after Deutsche Bank downgrades stock to hold
10:22 02.04.2025
Deutsche Bank invests in fintech Abound enhancing AI-driven lending capabilities
08:40 02.04.2025
Deutsche Bank starts coverage of Pool with hold recommendation and fund sentiment
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06:19 02.04.2025
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