Anshu Jain, the incoming co-CEO of Deutsche Bank, took a 23% cut in his compensation last year after the European sovereign debt crisis and turmoil in financial markets prompted a loss in the investment banking division.  As the current head of the investment banking unit, Jain's total compensation is €5.8 million ($7.6 million) for 2011, compared with €7.6 million in 2010. He will take over as co-CEO of the firm from Josef Ackermann, whose pay this past year fell less than 1%, to €6.3 million.  The salary for the other incoming co-CEO, Jürgen Fitschen, fell almost 5%, to €2.8 million 2011. All told, the 7 members of Deutsche's management board received combined salary and bonus of €26.4 millions, down from €32.4 million a year earlier - when the board had 8 members.  The reduction in compensation for Deutsche Bank’s senior management comes as pay at other European banks has also come under scrutiny. At Other Banks. Earlier this month, Barclays of Britain awarded CEO Robert Diamond Jr., £6.3 million ($10.3 million) in compensation for 2011, a reduction from 2010.   He is to receive a pay package that includes £2.7 million in deferred shares and a £1.35 million salary for last year.  That compares with a total compensation of £9mn for 2010, when he was still head of the investment banking operation. Over at Swiss financial giant UBS, the 2011 bonus pool was reduced by 40% to 2.6 billion Swiss francs ($2.8 billion), after profit at the bank last year fell to 4.2 billion francs from 7.5 billion francs in 2010.  The total bonus handed out to its investment bankers was 60% lower than for 2010. For complete details:  [Dealbook, 3/20/12].