October 3, 2022

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Former Deutsche Financial institution co-CEO Anshu Jain dies aged 59

Anshu Jain, an India-born funding banker who served as co-CEO at Deutsche Financial institution, handed away final evening after a protracted battle with most cancers, household he introduced in a press release Saturday. He was 59 years outdated.

Jain, who was most just lately president of Cantor Fitzgerald, earned an MBA from the College of Massachusetts-Amherst and labored at a number of monetary companies, together with Merrill Lynch, earlier than transferring to Deutsche Financial institution. He was Co-CEO from 2012 to 2015.

Jain stepped down from his function at Deutsche earlier than his contract ended after the financial institution was beset by a collection of authorized issues.

His different positions embrace an advisory function at fintech agency SoFi from 2016 to 2017 and as a trustee of UK charity Probability to Shine.

“He believes in laborious work, meritorious regimes, working outdoors of regular expectations or boundaries, placing household first, valuing one’s roots (rejected many makes an attempt to Westernize him in an typically homogenous business), converse ‘on the sidelines’ as a substitute of offering the plain fact, with wit and puns, with out the materiality and significance of getting a tape training and have become a ‘scholar-athlete’, his household mentioned in a press release.

“We’re grateful to the many individuals who’ve cared for Anshu all through his life. For us, his legacy is perseverance, honor and love,” the assertion learn.

Howard Lutnick, CEO of Cantor Fitzgerald, additionally launched a press release about Jain’s departure.

“Anshu was an excellent skilled who introduced a wealth of expertise and knowledge to his function as President. He will probably be remembered as a rare chief, companion and pricey good friend, who will probably be significantly missed by all of us and everybody who knew him,” mentioned Lutnick. “On behalf of all of our companions and workers, we prolong our deepest sympaths to the household. household of Anshu and want them peace and therapeutic throughout this troublesome time.”

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Correction: This text has been up to date to take away a reference to Ajit Jain who will not be associated to Anshu Jain.