Jain, who was born in India, spent two decades building Deutsche Bank into one of the world’s leading universal banks. He was the first non-European to head the German institution. In the wake of the 2008 financial crisis and subsequent European debt crisis, Jain pushed Deutsche to remain Europe’s “last man standing” as US firms moved into global banking. Sign up now for FREE unlimited access to Reuters.com Register Years of expansion into risky investment banking businesses came back to haunt the bank as regulation made complex transactions more expensive. As co-CEO he struggled to contain risk and catch a long list of scandals that led to billions of dollars in fines. He resigned from the German lender in 2015 and has been chairman of US financial services firm Cantor Fitzgerald since 2017. “He will be remembered for his leadership in financial services and his deep commitment to conservation,” said Larry Fink, chief executive of BlackRock Inc, who said he knew Jain well. Born in the Indian city of Jaipur, Jain earned his bachelor’s degree at the University of Delhi before completing his MBA at the University of Massachusetts at Amherst. A lifelong vegetarian, he enjoyed wildlife photography, safaris in Kenya’s Masaai Mara and wildlife conservation, his family said. He joined Deutsche in 1995 to set up a division specializing in hedge funds and derivatives. He then led bond and emerging markets trading and later, as head of the investment bank, earned more than his boss, then CEO Josef Ackermann. He was appointed to Deutsche’s board of directors in 2009 and was responsible for the corporate and investment banking division since 2010. From 2012 to 2015 he was co-CEO. “Anyone who worked with Anshu experienced a passionate leader of intellectual brilliance,” said CEO Christian Sewing. Jane was diagnosed in January 2017 with duodenal cancer, which affects the small intestine, but managed to beat his initial diagnosis by four years, the family said. “Until his last day, Anshu stood by his lifelong resolve to ‘not be a statistic,’” the family said. Sign up now for FREE unlimited access to Reuters.com Register Reporting by Vera Eckert in Frankfurt and Maria Ponnezhath in Bengaluru Editing by Franklin Paul and Clelia Oziel Our Standards: The Thomson Reuters Trust Principles.
