Deutsche Bank former Co-CEO Anshu Jain passed away in the early hours of Saturday at the age of 59 after a long, serious illness.
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Mr. Jain was born on 7 January 1963 in Jaipur, India. After receiving his MBA, Mr. Jain began his career on Wall Street. He was hired as an analyst in derivatives research at Kidder, Peabody & Co., where he worked from 1985 to 1988.
In 1988, he moved to Merrill Lynch. He spent seven years there, setting up and running its global hedge fund coverage group, selling interest-rate swaps and other financial products to hedge funds.
Mr. Jain joined Deutsche Bank in June 1995 to head a combined group which marketed fixed-income derivatives to large investors and hedge funds. In February 1997, he was named head of Deutsche Bank's newly formed Global Institutional Client Group, and expanded fixed income into foreign exchange and credit derivatives.
In mid-2000, he became head of global capital markets, sales, over-the-counter derivatives, global credit derivatives, and emerging markets.
He played a crucial role in the development of Deutsche Bank and was instrumental in building the company’s global capital markets business.
Mr. Jain was appointed to Deutsche Bank's Management Board in 2009 and was responsible for the Corporate and Investment Bank division from 2010.
From 2012 to 2015, he was Co-CEO. He remained a consultant to the bank until January 2016.
In 2016, Mr. Jain became an advisor to the San Francisco-based company, a fintech firm.
In January 2017, he became president of Cantor Fitzgerald, a mid-sized, private New York-based firm which offers investment banking and other financial services. He also stepped down from his role at SoFi.
Mr. Jain received his Bachelor’s degree in Economics, with honors, from the University of Delhi and his MBA in Finance degree, Beta Gamma Sigma, from the University of Massachusetts Amherst.
Mr. Jain’s contribution to Deutsche Bank and the industry was recognised with numerous awards worldwide.
For example, TERI Technical University in New Delhi awarded him an honorary doctorate and the London Business School made him an Honorary Fellow.
In 2010 and 2012, he received the Lifetime Achievement Award from Risk magazine, in 2012 he was named Global Indian of the Year by the Economic Times of India, and in 2014 he was honoured by the Jewish Museum of New York.
Besides his contributions to the bank, he supported animal welfare projects in his native India and in South Africa. ■