Deutsche Bank Co-CEO: “I've never been able to understand the way excess riches drive people to behave differently”

The Co-CEO of Deutsche Bank believes bankers are being paid too much, according to Bloomberg News.

John Cryan is the Co-CEO at Deutsche Bank. He has recently been philosophising on why certain employees are more motivated by money than others, as well as discussing the current state of banker’s salaries. He spoke at a conference in Frankfurt on Monday. According to Bloomberg News, Cryan said: “I think bankers are paid too much.”

Recognising the irony in that statement, he added that monetary reward would not encourage him to work any harder than he normally does. Cryan continued: “I have no idea why I was offered a contract with a bonus in it because I promise you, I will not work any harder or any less hard in any year, in any day because someone is going to pay me more or less.

“I sit on trading floors and wonder what drives people. I don’t fully empathise with anyone who says they turn up to work and work harder because they can be paid a little bit more, but that may be a personal view. I’ve never been able to understand the way additional excess riches drive people to behave differently.”