| Headline: Bonus scandal adds to woes at BGB Source: Euromoney Date: August 2001 Author: Anja Helk
In the case of the Bank-gesellschaft management these bonuses amount to Dm8 million (e4.1 million), one million more than in 1999. And yes, this is the same Bankgesellschaft Berlin (BGB) that found a hole of Dm3.2 billion on its books last year. According to one Berlin newspaper two thirds of the Dm8 million were “success bonuses” paid to the top management. That probably refers to their success in keeping their jobs. The CEO Wolfgang Rupf was confirmed in office in July after getting the BGB into the biggest banking mess in Germany’s history. Strangely, in February the bank had announced a good year-end result. | |||||||||||||||||||||||||||||||||||||||||