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Anshu Jain, ace banker and Deutsche Bank's ex-chief, dies at 59

Anshu Jain, who was currently serving as the president of Cantor Fitzgerald LP, had advised governments and industry bodies around the world.

August 13, 2022 / 11:10 PM IST
File image of Anshu Jain

File image of Anshu Jain

Anshu Jain, ace investment banker and former co-chief executive officer of Deutsche Bank AG, has died of cancer, his family said on August 13. The 59-year-old was currently serving as the president of Cantor Fitzgerald LP.

Jain, who is survived by his wife and two children, was fighting duodenal cancer since the past five years, his family said in a statement. He was diagnosed with the disease in January 2017.

Through a combination of "exhaustive personal research, tactical skill, amazing caregivers, and sheer force of will", Jain managed to outlive his initial diagnosis by four years, the statement said. "There are few reliable statistics for life expectancy for stomach cancer in the third, fourth, and fifth years, because so few people survive these milestones. To his last day, Anshu stood by his lifelong determination to 'not be a statistic'," it added.

The India-born Jain had served as the co-CEO of Deutsche Bank, the German multinational lender, between 2012 and 2015. He was part of the bank's management board since 2009, and part of the executive committee since 2002.

Before joining Deutsche Bank in 1995, Jain was working with Merrill Lynch, the wealth management division of the Bank of America.

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Jain has advised governments and industry bodies around the world. He led Deutsche Bank’s team advising the UK Treasury on financial stability, and had also served on the international advisory panel of the Monetary Authority of Singapore.

An ardent conservationist, Jain was working with environment and wildlife conservation groups in many parts of the world. "In his personal life, Anshu was a lifelong vegetarian and loved wildlife photography, safaris in Kenya’s Masaai Mara, and wilderness conservation," his family said.

Jain's educational background includes a Bachelor’s degree in Economics from the University of Delhi, and an MBA in finance from the University of Massachusetts, Amherst. He was a member of the coveted Beta Gamma Sigma academic honour society.

The highlight of Jain's career was his association with Deutsche Bank, which lasted for nearly 20 years. "Anyone who worked with Anshu experienced a passionate leader of intellectual brilliance," news agency Reuters quoted the bank's current CEO, Christian Sewing, as saying following the news of his demise.

After leaving the German lender, Jain had became an advisor to Social Finance Inc., a California-based fintech firm in 2016, before joining Cantor Fitzgerald as its chief in 2017.

Apart from Cantor Fitzgerald, Jain was also currently associated with InCred, a non-banking financial company in India.

Jain will be remembered for "his leadership in financial services and his deep commitment to conservation", Reuters quoted Larry Fink, chief executive of BlackRock Inc, as saying.

Jain's hometown was Jaipur, but he had been living in London for the past several years. He also had a residence in New York. His wife Geetika Jain is a travel writer and author of children’s books.

The British-Indian banker had, in 2003, received Euromoney magazine’s coveted Capital Markets Achievement award. In 2010, he was honoured with Risk magazine's Lifetime Achievement award.
Moneycontrol News
first published: Aug 13, 2022 05:28 pm
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