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Jain Anshu, President of Cantor Fitzgerald seems on CNBC’s Squawk on the Avenue 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 evening after a protracted battle with most cancers, his household introduced in an announcement Saturday. He was 59 years previous.
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 companies, together with Merrill Lynch, earlier than transferring 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 job as an advisor at fintech firm SoFi from 2016 to 2017 and as a trustee of British charity Likelihood to Shine.
“He believed in onerous 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 business that was usually homogenous), in talking ‘on the margin’ fairly 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 an announcement.
“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 an announcement about Jain’s passing.
“Anshu was the consummate skilled who introduced a wealth of expertise and knowledge to his function as President. He shall be remembered as a unprecedented chief, associate, and pricey pal who shall be vastly missed by all of us and by all who knew him,” Lutnick mentioned. “On behalf of all our companions and workers, we lengthen our deepest sympathies to Anshu’s household and want them peace and therapeutic throughout this tough time.”
Correction: This text has been up to date to delete a reference to Ajit Jain, who just isn’t associated to Anshu Jain.
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