Anshu Jain, an investment banker who was born in India and rose to become co-CEO at Deutsche Bank, died last night after a long battle with cancer, his family said in a statement Saturday. He had lived for 59 years.
Jain was most recently the president of Cantor Fitzgerald. He got his MBA from the University of Massachusetts-Amherst and worked at several financial firms, including Merrill Lynch, before moving to Deutsche Bank. From 2012 to 2015, he was co-CEO.
Jain quit his job at Deutsche before the end of his contract because the bank was having trouble with regulations.
From 2016 to 2017, he also worked as an advisor for the fintech company SoFi and as a trustee for the British charity Chance to Shine.
“He believed in hard work, meritocracy, operating outside of expectations or conventional boundaries, putting family first, staying true to one’s roots (he turned down many attempts to Westernize him in an industry that was often homogenous), speaking “at the margin” instead of giving plain facts, wit and wordplay, being nonmaterialistic, and the importance of having a broad bandwidth and being a “scholar-athlete,” his family said in a statement.
“We’re thankful for all the people who took care of Anshu during his life. “Tenacity, honor, and love are what we remember most about him,” the statement said.
He was the first non-European to lead the German bank. https://t.co/Wvu6DI9DG4
— S. Mitra Kalita (@mitrakalita) August 13, 2022
The CEO of Cantor Fitzgerald, Howard Lutnick, also said something about Jain’s death.
“Anshu was a true professional who brought a lot of knowledge and experience to his position as President. “He will be remembered as a great leader, partner, and friend, and all of us and everyone who knew him will miss him very much,” Lutnick said. “On behalf of all our partners and employees, we send Anshu’s family our deepest condolences and wish them peace and healing during this hard time.”