Ace investment banker and ex-chief executive officer of Deutsche Bank Anshu Jain passed away on August 13. The British Indian banker, 59, was mostly known for his extensive role in Deutsche Bank between 2012 and 2015 when he was the co-CEO along with Jürgen Fitsche.
He was lastly serving as the president of Cantor Fitzgerald LP. Besides, he was an avid wildlife enthusiast. Tiger Watch, the wildlife conservation group which was closely working with Jain, issued a statement that said his demise took place on Saturday morning due to his prolonged battle with cancer. In a statement, his family said that Jain was struggling with duodenal cancer for five years. Jain has left behind his wife and two kids.
Born in Jaipur and raised in Delhi, his full name was Anshuman Jain. He received education at the finest schools in India. He completed his graduation from Shri Ram College of Commerce, University of Delhi. He did his MBA in Finance from the University of Massachusetts Amherst.
He started his career as an analyst at Kidder, Peabody & Co., which is now popularly known as UBS. Later, he joined the Merrill Lynch team in New York City. Jain got popular when he founded the very first hedge fund coverage group in the securities industry. That was a milestone in his career.
The high point of his career was his stint at Deutsche Bank. In 2000, he headed the global markets business of the Germany-based bank after his mentor Edson Mitchell died in a plane crash. In 2004, he was made the co-head of the investment banking division and witnessed a period of rapid growth. As a co-CEO, he made headway in earning profits for the bank, making it a global financial giant.
But eventually, shareholders lost confidence, and Jain faced a lot of criticism over job cuts and closures in the restructuring plan. He resigned on 7 June 2015.
He joined California-based Social Finance Inc in 2016, and Cantor Fitzgerald as its head in 2017.
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