Anshu Jain, former co-chairman of Deutsche Bank, has passed away after a prolonged illness. He was considered a pioneer of derivatives trading and headed the financial institution for three years.

Former Deutsche Bank owner Anshu Jain has passed away. The British-Indian manager died on Saturday night at the age of 59 as a result of a prolonged, serious illness, Deutsche Bank said.

“intellectual genius”

CEO Christian Sewing recalls the manager’s “passionate leadership of intellectual genius.” “He deeply impressed many of us with his energy and loyalty to our bank.” In his three years as co-head of Deutsche Bank, however, he never shed his image as an unscrupulous investment banker: the institution had a long list of scandals, and shareholders eventually became the twin of Jan and Jürgen. punished the leadership. Fitchen.

Jain’s family said in a statement obtained to the Financial Times that Jain had died after a five-year battle with cancer. However, he lived four years longer than his doctors had originally predicted. “Till the last day, Anshu has pursued her lifelong goal of ‘not being a statistic’,” the paper said.

business restructuring

Jain has been working for Deutsche Bank since 1995. Jain was appointed to the board in 2009 and has been responsible for the Corporate and Investment Banking division since 2010. Jain managed Deutsche Bank together with Jurgen Fitschen from 2012 to 2015. As co-CEO, Jain was responsible for corporate finance, sales and trading and global transaction banking.

In the summer of 2015, he left the largest German financial institution following increasing criticism. Jain was accused, among other things, of shying away from the deep cuts needed in investment banking for too long. He himself managed this important division for many years.

In recent years, Jain had oriented his career to the USA. In 2016, he accepted a consulting job in Silicon Valley at fintech company Social Finance (SoFi), and in 2017 he was hired by Cantor Fitzgerald, a New York-based financial services firm, where he oversaw growth strategy.