Famous Indian-origin British executive Anshu Jain has been in the news because he died recently at the age of 59, know his education and net worth
Anshu Jain, the president of Cantor Fitzgerald, passed away lately. He was renowned for his role in guiding traders from Deutsche Bank to the heights of the lender’s investment banking.
Anshu Jain Deutsche Bank CEO Passed Away, Cause Of Death, Biography, Age, Family, Wife, Son, Brother, Career, Education, Salary And Net Worth 2022
First non European CEO of Germany's largest Deutsche bank and world renowned banker Anshu Jain, born Jaipur(1963) dies yesterday after fighting Cancer battle for 5 yrs. May he attain supreme Nirvan soonest.🙏 pic.twitter.com/VQdhuxYDpS
— Pankaj N Jain (@jainpankajN) August 13, 2022
RIP Anshu Jain.
He broke the glass ceiling and he is the reason lot of Indians joined sales and trading roles in global investment banks.
While I never worked in DB, the guy who hired me in Merrill Lynch out of campus was ex DB, and rated Indians highly …
— Nirav Kanodra (@niravstoons) August 14, 2022
His family revealed his demise in an official statement which said,
We are deeply saddened that our beloved husband, son, and father, Anshu Jain, passed away overnight.
The statement added,
He believed in hard work, meritocracy, operating outside of expectations or conventional boundaries, placing family first, standing by one’s roots (having turned away many attempts to Westernize him in an industry that was often homogenous), in speaking ‘at the margin’ rather than delivering plain facts, in wit and wordplay, in being nonmaterialistic, and in the importance of having broad-bandwidth and being a ‘scholar-athlete.’
Since then, lots of people are talking about him. So, let’s find out more about him:
Who Was Anshu Jain?
Anshu Jain was a famous Indian-born British business executive who was well-known for his stint in Deutsche Bank. He was recently in the news because he died after battling a long-time disease.
His full name is Anshuman Jain. He was born in the Indian city of Jaipur on January 7, 1963. His father was a civil servant, and he hails from a Jain household.
He is the cousin of Ajit Jain, who has served as vice chairman of Berkshire Hathaway’s insurance business since 2018. He relocated with his family to New Delhi when he was six years old.
He went to Delhi Public School in Delhi. Later on, he pursued economics at the University of Delhi’s Shri Ram College of Commerce, where he graduated with a BA in 1983.
After arriving in the United States at the age of 19, he studied under Thomas Schneeweis, a specialist in alternative investments including futures, options, and derivatives, and graduated with an MBA in finance from the Isenberg School of Management at the University of Massachusetts Amhers in 1985.
He was married to Geetika, a children’s book and travel writer. The couple has two kids together with his son named Arjun. Cricket, golf, wildlife photography, and the preservation of wildlife were some of Jain’s hobbies. He was 59 years at the of his death.
His Career
Anshu Jain started his professional career on Wall Street after earning his MBA. Later, he was employed by Kidder, Peabody & Co. where he worked from 1985 to 1988 as an analyst in the derivatives research department.
He later came to Merrill Lynch in 1988 and stayed there for seven years.
In June 1995, Jain joined Deutsche Bank to lead a joint team that sold fixed-income derivatives to institutional clients and hedge funds. He was appointed group leader of the newly established Global Institutional Client Group at Deutsche Bank in February 1997, expanding fixed income into foreign currency and credit derivatives. He was appointed head of international capital markets, sales, over-the-counter derivatives, international credit derivatives, and developing markets in the middle of 2000.
Anshu Jain and Michael Cohrs were named co-heads of the Corporate and Investment Bank in September 2004. With this, he becomes the first non-European to head Deutsche Bank.
He took over as CEO of the whole Corporate and Investment Bank after Cohrs resigned in 2010. With effect from June 1, 2012, Jain and Jürgen Fitschen were named co-CEOs of Deutsche Bank in July 2011. But on June 7, 2015, Jain and Fitschen announced their resignation after receiving harsh criticism.
He joined the advisory board of SoFi (Social Finance, Inc.), a fintech business with headquarters in San Francisco, in 2016. He was elected president of the mid-sized, privately held Cantor Fitzgerald business in January 2017.
Anshu Jain served on the advisory board of the Indian nonbanking financial institution InCred. He was on the MIT Sloan School of Management’s finance group advisory board. He was on the board of directors of the British nonprofit organisation Chance to Shine.
He was a representative on the Indian-based Wildlife Conservation Trust’s advisory board. Prior to this, he was a member of the Financial Services Forum, the Institute of International Finance’s board of directors, and the Monetary Authority of Singapore’s global advisory council.
Awards Received By Him
Anshu Jain was given the Capital Markets Achievement Award by Euromoney magazine in 2003. He received a 2006 American India Foundation Award for Leadership and Philanthropy. He earned the Lifetime Achievement Award from Risk magazine and the NASSCOM Business Leader Award in 2010.
At the Economic Times Awards in 2012, he was recognised as the Global Indian of the Year. He received both an Honorary Doctorate and an Honorary Fellowship from TERI University in New Delhi in 2014.
Death Cause Of Anshu Jain
Anshu Jain died last night after fighting 5 years with duodenal cancer.
Net Worth Of Anshu Jain
He had an estimated net worth of about $60 million. His salary stood at 7 million euros per year.