Anshu Jain, chairman of Cantor Fitzgerald and former co-CEO of Deutsche Bank, has died. He was 59 years old.
The news was reported by his family, said in a statement on Saturday.
Jain passed away after a battle with duodenal cancer, which he was diagnosed with in 2017.
Jain was co-CEO of Deutsche Bank from 2012 to 2015.
It was at Deutsche Bank that he helped develop the firm’s global capital markets business.
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Jain was co-CEO with Jürgen Fitschen and was the first non-European to lead the German bank.
“Anshu Jain has played a key role in expanding Deutsche Bank’s position in our global business with corporate and institutional investors,” said Alexander Wynaendts, Chairman of Deutsche Bank’s Supervisory Board. “Today it is of strategic importance not only for Deutsche Bank, but for Europe as a financial centre.”
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Jain was chairman of New York-based financial services company Cantor Fitzgerald from 2017 until his death.
Cantor Fitzgerald CEO Howard Lutnick said Jain “was the consummate professional who brought a wealth of experience and wisdom to his role as chairman.”
He began his career at Kidder, Peabody & Co., then joined Merrill Lynch, where he founded and then led the firm’s global hedge fund hedging group.
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He is survived by his wife, Geetika, his mother and two children.
The Associated Press contributed to this report.