“Anshu Jain, age 59, passed away overnight after a fierce battle of five years with duodenal cancer,” his family said in a release. “He was diagnosed in January 2017, and through a combination of exhaustive personal research, tactical acumen, wonderful caregivers, and willpower, has managed to surpass his initial diagnosis by four years.”
Jain, who was the Global Indian of the Year at the ET Awards for Corporate Excellence in 2012, was born in Jaipur in 1963 and studied here. Shri Ram College of CommerceNew Delhi, and University of Massachusetts,
“His father was a civil servant. He lived in Delhi for most of his childhood and adolescence,” the family said. “He met his wife Geetika at the age of 17 and picked her up and dropped off the university every day by public bus, as those trips were the only time his parents did not supervise him. He went on to pursue an MBA. Went to the University of Massachusetts, Amherst, and graduated with Beta Gamma Sigma honors.”
He began his career with the New York stockbroker Kidder, Peabody & Company before moving to the investment bank Merrill Lynch,
Jain spent a large part of his career as an investment banker in London, and followed his mentor Edson Mitchell to Deutsche Bank in 1995. He took over as the head of the Treasury business in 2004. He instinctively understood risk, which helped him make quick decisions. In the investment banking division of Germany’s largest bank. This resulted in huge profits for the bank and huge bonuses to the 16,000 bankers working under it, known to insiders as Anshu’s army. Jain went on to become one of the most high profile bank executives in the world.
Recalling Jain from his time at Deutsche Bank, Piyush Gupta, head of credit business at Investec, said, “Anshu led from the front.” “Despite leading a global franchise, Anshu always took a special interest in Indian business. He was a proud Indian who always carried his passion for India on his sleeve. ,
He served as chairman of Cantor Fitzgerald from January 2017 until his death.
Jain was exceptional with clients and, over the years, personally nurtured a wide array of senior relationships in the country, greatly benefiting the Indian business at Deutsche Bank. He was known to be equally comfortable with the complexities of leading a global fixed income and derivatives business as much as he personally engaged with and built relationships with clients.
Bhupinder Singh, Founder & CEO, IncredJain said his passing was a deeply personal loss and paid tribute to his friend of more than two decades.
“An absolute legend in every sense, a trailblazer, one of the finest ever on the planet who graced Wall Street, and a leader and visionary! His desire to always do the right thing and his passion for India always shined through.” ,” Singh told ET. “He won many accolades in his illustrious career, but above all, he was a torchbearer, the first Olympian in every sense to enter the world of global finance for Indians. It will be his everlasting legacy to me.”
After assuming the top post a year earlier, Jan stunned the bank’s shareholders by speaking in German at the annual general meeting in Frankfurt in May 2013.
Jain was a cricket player and fan who also bought a stake in the Mumbai Indians, the Indian Premier League team owned by Mukesh Ambani.
, He later sold the stake. Deutsche Bank also had a box at Lord’s. Jain belonged to the Deutsche Bank cricket team and counted Rahul Dravid as one of his closest friends. He was an accomplished cricketer and continued to play with friends until recently in London. A fast bowler, others were intimidated by his inswingers, even if it was a tennis ball tournament.
Apart from Dravid, he had a good friendship with Virender Sehwag. Ravi Shastri, A friend said that Dravid had met him when he was in London with the team for the last time.
Ravneet Gill, former CEO of Deutsche Bank India and fellow cricketer of Jain, said, “He gave his all for family, work, sports, wildlife, photography, fitness etc. and did it to the point of perfection.” 80s. “And while he was a demanding leader, he was very loyal, inspirational, generous and a mentor to his people.”
He was also a nature lover and avid wildlife photographer.
Jain was particular about gym and golf. Even when he was undergoing treatment, he did not skip his workouts, except for the days when he was admitted to the hospital. He also loved his post-dinner walk.
At the workplace, Jains always surprise colleagues by judging people on the basis of difficulty factor rather than achievement.
He initiated the recruitment program of management graduates from Indian B-schools and personally led Deutsche Bank to the international business avenues.
“His discipline and focus were outstanding,” said Guneet Chadha, a former Deutsche Bank executive who had known Jain for more than two decades. “Whatever he did, he prepared well. He had an extremely great ability to identify and attract high quality talent. and took care of them. ,