Deutsche Bank, a leading bank in Germany with strong European roots and a global network, has mourned the death of its former Co-CEO, Anshu Jain. India-born British executive Jain, 59, died after battling with cancer for five years. Jain is survived by his wife, children and his mother.
Jain who played a crucial role in the development of Deutsche Bank and was instrumental in building the company’s global capital markets business, was appointed to Deutsche Bank's Management Board in 2009. He was responsible for the Corporate and Investment Bank division from 2010. He served as Co-CEO for a period of three years from 2012 to 2015. He served as a consultant to the bank until January 2016.
Jain’s contribution to Deutsche Bank and the industry was recognised with numerous awards worldwide. An honorary doctorate awardee from TERI Technical University in New Delhi and an Honorary Fellow of the London Business School, Jain also received the Lifetime Achievement Award from Risk magazine in 2010. He was named Global Indian of the Year by the Economic Times of India and honoured by the Jewish Museum of New York in 2012 and 2014, respectively.
Besides his contributions to the bank, he supported animal welfare projects in India and in South Africa.
Born in Jaipur, Jain graduated in Economics from Shri Ram College of Commerce (SRCC) at the University of Delhi (DU), in 1983 and earned a degree in MBA in finance from the School of Management at the University of Massachusetts Amherst.
Jain started his career as an analyst in derivatives research at Kidder, Peabody & Co., where he worked from 1985 to 1988.
“Anshu Jain played a key role in expanding Deutsche Bank's position in our global business with companies and institutional investors. Today, this is of strategic importance not just for Deutsche Bank, but for Europe as a financial centre,” said Alexander Wynaendts, Chairman of the Supervisory Board of Deutsche Bank, while paying tribute to these achievements.
“A passionate leader of intellectual brilliance, Jain’s energy and loyalty to the bank left a great impression on many of us,” said Christian Sewing, CEO.