Jain Anshu, president of Cantor Fitzgerald, will appear on CNBC’s Squawk on the Street at the 2020 World Economic Forum in Davos, Switzerland, on January 22. 2020.
Gerry Miller | CNBC
Anshu Jain, an Indian-born investment banker who rose to co-CEO of Deutsche Bank, died last night after a long battle with cancer, his family said in a statement on Saturday. He was 59 years old.
Jain, who most recently served as the 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. From 2012 to 2015 he was co-CEO.
Jain resigned from Deutsche before his contract expired after the bank was beset by a series of regulatory problems.
His other positions included a role as an advisor to fintech firm SoFi from 2016 to 2017 and as a trustee of UK charity Chance to Shine.
“He believed in hard work, meritocracy, operating beyond expectations or conventional boundaries, putting family first, sticking to your roots (after many attempts to westernize him in an industry that was often homogeneous), in speaking ‘on the margins’ ‘ rather than providing clear facts, in humor and puns, non-materialistic, and in the interest of broad bandwidth and being a ‘scholar-athlete,’ his family said in a statement.
“We are grateful to the many people who have cared for Anshu throughout his life. To us, his legacy is tenacity, honor and love,” the statement said.
Jain’s extended family includes Ajit Jain, a cousin, who is the vice president of insurance operations for Berkshire Hathaway.