Former Deutsche Bank co-CEO Anshu Jain dies at 59

Jain Anshu, President of Cantor Fitzgerald seems on CNBC’s Squawk on the Street at the 2020 World Economic Forum in Davos, Switzerland on Jan. twenty second. 2020.

Gerry Miller | CNBC

Anshu Jain, an Indian-born funding banker who rose to the position of co-CEO at Deutsche Bank, died final night time after a protracted battle with most cancers, his household introduced in an announcement Saturday. He was 59 years previous.

Jain, who most just lately served because the president of Cantor Fitzgerald, earned an MBA at the University of Massachusetts-Amherst and labored at a number of monetary corporations, together with Merrill Lynch, earlier than transferring to Deutsche Bank. He served as co-CEO from 2012 to 2015.

Jain stepped down from his position at Deutsche earlier than his contract ended after the financial institution was beset by a string of regulatory points.

His different positions included a job as an advisor at fintech firm SoFi from 2016 to 2017 and as a trustee of British charity Chance to Shine.

“He believed in hard work, meritocracy, operating outside of expectations or conventional boundaries, placing family first, standing by one’s roots (having turned away many attempts to Westernize him in an industry that was often homogenous), in speaking ‘at the margin’ rather than delivering plain facts, in wit and wordplay, in being nonmaterialistic, and in the importance of having broad-bandwidth and being a ‘scholar-athlete,'” his household stated in an announcement.

“We are grateful to the many people who cared for Anshu throughout his life. For us, his legacy is tenacity, honour, and love,” the assertion stated.

Correction: This article has been up to date to delete a reference to Ajit Jain, who just isn’t associated to Anshu Jain.

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