Most recently, Jain managed the business of a US investment bank.
(Photo: imago stock&people)
Dusseldorf Former Deutsche Bank boss Anshu Jain has died at the age of 59. According to media reports, his family announced this on Saturday. Accordingly, Jain has been suffering from cancer since 2017. Most recently, he headed the US investment bank Cantor Fitzgerald.
The bank manager, who was born in India, joined Deutsche Bank in 1995 and managed the institute together with Jürgen Fitschen from 2012 to 2015. He helped to expand the bank’s business outside of the home market. After the Swiss Josef Ackermann, Jain was the second foreign manager to head the largest German bank.
In the period before the financial crisis from 2008, Jain was considered an expert in derivatives trading, later he took over the management of the investment bank within Deutsche Bank.
Shareholder displeasure with falling profits and rising costs ultimately saw Jain removed after just 61 percent of shareholders voted in favor of him at the AGM. In addition, his role in the process of manipulating the Libor interest rate by Deutsche Bank was unclear for a long time. However, the financial regulator Bafin later exonerated Jain.
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