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Business

Former co-CEO of Deutsche Bank, Anshu Jain, has died aged 59




Jain Anshu, President of Cantor Fitzgerald appears on CNBC’s Squawk on the Street at the 2020 World Economic Forum in Davos, Switzerland on January 22. 2020.

Gerry Miller | CNBC

Anshu Jain, an Indian-born investment banker who took on the role of co-CEO of Deutsche Bank, died last night after a long battle with cancer, his family announced in a statement on Saturday. He was 59 years old.

Jain, who most recently served as president of Cantor Fitzgerald, earned an MBA at the University of Massachusetts-Amherst and worked at several financial firms, including Merrill Lynch, before moving to Deutsche Bank. He served as co-CEO from 201[ads1]2 to 2015.

Jain stepped down from his role at Deutsche before his contract expired after the bank was plagued by a series of regulatory problems.

His other positions included a role as an advisor to fintech company SoFi from 2016 to 2017 and as a trustee of UK charity Chance to Shine.

“He believed in hard work, meritocracy, operating outside expectations or conventional boundaries, putting family first, standing by his roots (having rejected many attempts to westernize him in an industry that was often homogenous), in speaking “on the edge” instead of delivering simple facts, in wit and puns, in being non-materialistic, and in the importance of wide bandwidth and being a “scholar-athlete,” his family said in a statement.

“We are grateful to the many people who cared for Anshu throughout his life. For us, his legacy is perseverance, honor and love,” the statement said.

Jain’s extended family includes Ajit Jain, a cousin, who is vice president of insurance operations for Berkshire Hathaway.



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