March 20, 2012 / 7:53 AM / 6 years ago

Deutsche Bank's Jain saw 2011 pay drop by 23 pct

FRANKFURT, March 19 (Reuters) - Deutsche Bank said co-Chief Executive designate Anshu Jain earned 5.8 million euros ($7.7 million) in 2011, down 23 percent from a year earlier and less than the 6.3 million euros awarded to his boss Josef Ackermann.

Overall, Jain’s pay fell from the previous year’s award of 7.6 million euros, reflecting a s lowdown i n profitability for the industry.

Jain is set to take over as co-chief executive of the German flagship lender alongside Juergen Fitschen after Josef Ackermann steps down in May.

Earlier this month it emerged that Barclays boss Bob Diamond took home pay, shares and benefits worth 17 million pounds ($26.9 million).

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