Former Deutsche Bank co-CEO Anshu Jain has died at the age of 59

Jain Anshu, President of Cantor Fitzgerald, appears 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 become 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 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 joining Deutsche Bank. From 2012 to 2015 he was Co-CEO.

Jain resigned from his position at Deutsche Bank before his contract expired after a series of regulatory issues plagued the bank.

His other positions included a role as a consultant at fintech company SoFi from 2016-2017 and as a trustee of UK charity Chance to Shine.

“He believed in hard work, meritocracy, operated outside of expectations or conventional boundaries, put family first, stood by his roots (having rejected many attempts to Westernize him in an industry that was often homogenous ), spoke ‘in passing’ rather than providing straight facts, using wit and puns, not being materialistic and the importance of having a wide range and being a ‘learned athlete,'” his family said in a statement.

“We are grateful to the many people who have taken care of Anshu throughout his life. For us, his legacy is tenacity, honor and love,” the statement said.

Jain’s extended family includes Ajit Jain, a cousin who is vice chairman of Berkshire Hathaway’s insurance business. Former Deutsche Bank co-CEO Anshu Jain has died at the age of 59

Joshua Buckhalter

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