Jain Anshu, President of Cantor Fitzgerald appears on the CNBC television channel Squawk on the Street at the World Economic Forum 2020 in Davos, Switzerland on January 22, 2020.
Gerry Miller | CNBC
Anshu Jain, an India-born investment banker who served as co-CEO at Deutsche Bank, passed away last night after a long battle with cancer, family he announced in a statement Saturday. He was 59 years old.
Jain, who was most recently president of Cantor Fitzgerald, earned an MBA from the University of Massachusetts-Amherst and worked at several financial firms, including Merrill Lynch, before moving to Deutsche Bank. He was Co-CEO from 2012 to 2015.
Jain stepped down from his role at Deutsche before his contract ended after the bank was beset by a series of legal problems.
His other positions include an advisory role at fintech firm SoFi from 2016 to 2017 and as a trustee of UK charity Chance to Shine.
“He believes in hard work, meritorious regimes, operating outside of normal expectations or boundaries, putting family first, valuing one’s roots (rejected many attempts to Westernize him in an often homogenous industry), speak ‘on the sidelines’ instead of providing the obvious truth, with wit and puns, without the materiality and importance of having a tape education and became a ‘scholar-athlete’, his family said in a statement.
“We are grateful to the many people who have cared for Anshu throughout his life. For us, his legacy is perseverance, honor and love,” the statement read.
Howard Lutnick, CEO of Cantor Fitzgerald, also released a statement about Jain’s departure.
“Anshu was an outstanding professional who brought a wealth of experience and wisdom to his role as President. He will be remembered as an extraordinary leader, partner and dear friend, who will be greatly missed by all of us and everyone who knew him,” said Lutnick. “On behalf of all of our partners and employees, we extend our deepest sympaths to the family. family of Anshu and wish them peace and healing during this difficult time.”
Correction: This article has been updated to remove a reference to Ajit Jain who is not related to Anshu Jain.
