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

Jain Anshu, President of Cantor Fitzgerald seems on CNBC’s Squawk on the Road on the 2020 World Financial Discussion board in Davos, Switzerland on Jan. twenty second. 2020.

Gerry Miller | CNBC

Anshu Jain, an Indian-born funding banker who rose to the function of co-CEO at Deutsche Financial institution, died final night time after an extended battle with most cancers, his household introduced in a press release Saturday. He was 59 years outdated.

Jain, who most not too long ago served because the president of Cantor Fitzgerald, earned an MBA on the College of Massachusetts-Amherst and labored at a number of monetary corporations, together with Merrill Lynch, earlier than shifting to Deutsche Financial institution. He served as 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 string of regulatory points.

His different positions included a task as an advisor at fintech firm SoFi from 2016 to 2017 and as a trustee of British charity Likelihood to Shine.

“He believed in arduous work, meritocracy, working exterior of expectations or typical boundaries, putting household first, standing by one’s roots (having turned away many makes an attempt to Westernize him in an trade that was usually homogenous), in talking ‘on the margin’ relatively than delivering plain information, in wit and wordplay, in being nonmaterialistic, and within the significance of getting broad-bandwidth and being a ‘scholar-athlete,'” his household mentioned in a press release.

“We’re grateful to the many individuals who cared for Anshu all through his life. For us, his legacy is tenacity, honour, and love,” the assertion mentioned.

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

“Anshu was the consummate skilled who introduced a wealth of expertise and knowledge to his function as President. He will likely be remembered as a unprecedented chief, associate, and expensive pal who will likely be vastly missed by all of us and by all who knew him,” Lutnick mentioned. “On behalf of all our companions and workers, we prolong our deepest sympathies to Anshu’s household and need them peace and therapeutic throughout this troublesome time.”

Correction: This text has been up to date to delete a reference to Ajit Jain, who shouldn’t be associated to Anshu Jain.

Written by News Desk

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