UPDATE 1-Deutsche Bank CEO pushed for bonus self regulation

(Writes through, adds detail)

FRANKFURT, Feb 4 (BestGrowthStock) – Deutsche Bank (DBKGn.DE: ) Chief
Executive Josef Ackermann said investment banks had recently met
in a closed door meeting to discuss self regulation of bonuses
as a way to prevent regulators getting the upper hand.

Speaking to analysts in Frankfurt, Ackermann said the
meeting at the world economic forum in Davos had mapped out the
most likely outcomes for bonus regulation industry over the next
three years.

Ackermann said he outlined three options: “We do nothing on
compensation, we do something proactively to change it, or we do
nothing but there will be a regulatory backlash … the majority
of our peers said scenario three is the most likely one.”

The Swiss executive, who through his role as chairman of the
Institute of International Finance is one of the banking
industry’s top lobbyists, said he suggested taking proactive
steps to regulate bonuses.

Ackermann didn’t elaborate on who participated at the
meeting or outline whether bankers had agreed to take further
steps.

Investing

(Reporting by Edward Taylor; Editing by David Holmes)

UPDATE 1-Deutsche Bank CEO pushed for bonus self regulation